When you start a new business, are you better to overpromise, or underpromise?
Starting a new business can be both exciting and daunting. One of the critical decisions that entrepreneurs must make is how to set expectations with their customers or clients.
Some may be tempted to overpromise, hoping to attract and retain more customers.
However, Dr. Steven Enticott argues that underpromising and overdelivering is the way to go.
This strategy creates trust and builds a positive reputation for the business, which is crucial for success in the long run.
By underpromising, the business sets realistic expectations, avoiding the risk of disappointing customers.
When the business then overdelivers, customers are pleasantly surprised, leading to positive feedback and referrals, which are essential for growth.
In a competitive business world, where one mistake can be costly, it is mission-critical to build a reputation for reliability and trustworthiness from the start, and underpromising can be a useful tool in achieving this.
