Nov '22 in General discussion
Ever had to give a refund?
I have. It’s not often, but unfortunately, I’ve refunded more times than I’d want.
Once I had to give a refund for $7,500.
But you know what? That $7,500 refund was the RIGHT MOVE. I gave it literally Day 1 after contract start, the moment I realized, “Wow, this project is going to be a disaster and I’m just not going to be able to give them what they need.”
Here’s the thing with any loss or refund - as much as it hurts, it’s NOT about the money.
You’re actually doing yourself a huge favor. A single bad client experience can derail you from your growth ambitions, cause you not to win contracts for months, or even lead to getting de-platformed.
A rule that has been successful for me: only take money for a job well done.
But as with all things, I take it a step deeper. After any loss, I always seek to look back and try to understand:
-What was the source of the problem? Did I skip a step? Did I take on a client I shouldn’t have?
-Could I have foreseen this situation?
-How can I avoid a similar problem in the future?
In every single situation that went wrong with a client ending in a refund EXCEPT ONE, there was always something new to learn, something new to look out for, or a process I could improve upon to give clients a better experience. Some very expensive lessons, but…
…at least in every not-great situation I learned, and never let that happen again.
I’ll leave you with one of my rules: “The customer is always right, except when they are wrong.”
Never accept money from someone when you can’t guarantee that you can give them an amazing experience that makes them say “WOW!”
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Ever had to give a refund?
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