A friend called me recently, voice shaking

His team had over-billed every client.

Not one or two.
Every single one.
A misapplied schedule.
(Luckily not via our system)

It was Nov 1, a Friday afternoon.
Hundreds of incorrect bills had gone out.
Some were large.

He told me he wanted to hide.
To plan the perfect response.
To wait until Monday.

But he knew better.

At 4:45 PM on Friday
He alerted his whole team
Started making calls
Owned the mistake

First call was rough.
Second was better.
By the tenth, he had it down.

Here's what blew me away:
Not one client left him.
Many thanked him for the quick response.
Some even joke about it now.

I've seen thousands of advisors' operations.
The best ones know transparency isn't just honesty
It's speed in owning mistakes

Here are 5 steps to ensure you handle mistakes in a way that leaves your practice stronger:

1. No delay
   - Skip the perfect plan Call immediately Even Friday at 4:45

2. Start at the top
   - Call your biggest clients first They're your best teachers Their reactions guide later calls

3. Own it completely
   - No hedging No excuses Just "We made a mistake"

4. Have a fix ready
   - Not perfect Just clear next steps "Here's what we're doing"

5. Document everything
   - Record each interaction Track commitments made Build trust through follow-through

Follow these steps when things go wrong and make your practice stronger.

When did owning a mistake quickly work out better than expected?

PS "𝗠𝗶𝘀𝘁𝗮𝗸𝗲𝘀 𝗮𝗿𝗲 𝗮𝗹𝘄𝗮𝘆𝘀 𝗳𝗼𝗿𝗴𝗶𝘃𝗮𝗯𝗹𝗲 𝗶𝗳 𝗼𝗻𝗲 𝗵𝗮𝘀 𝘁𝗵𝗲 𝗰𝗼𝘂𝗿𝗮𝗴𝗲 𝘁𝗼 𝗮𝗱𝗺𝗶𝘁 𝘁𝗵𝗲𝗺."
— Bruce Lee