In business, trust is everything. Without trust you can’t raise money, sell product, find partners, or hire people.
Trust is the glue of business. You need it or it will all fall apart.
The surest way to lose trust is to break your promises.
You must keep your promises.
The easiest way to keep promises is to underpromise. That way you can over-deliver.
When you know you’re going to break a promise, man up. Tell the truth. Take it on the chin.
Charlie Munger says it best, “Bad news welcome. Good news can wait.”
People will forgive over-exuberance. People will never forgive lies.
Its very simple: Keep your promises.