Bernstein Crisis ManagementCrisis Management Quotables:

Learning from Angry Stakeholders

Bernstein Crisis Management

Our Crisis Management Quotables series takes words from some of the most famous (and sometimes infamous) characters throughout history and applies them to modern crisis management.

Today’s comes from Bill Gates, one of the most indisputably successful businessmen of all time, speaking on an often-overlooked way to protect your reputation.

Bernstein Crisis Management

“Your most unhappy customers are your greatest source of learning.”

— Bill Gates

Ahh, now this one is a lesson that is often learned the hard way. It’s widely accepted that you need to solve problems your customers, investors, or other stakeholders encounter, but more often than not the thought goes no further than “satisfy them and send them on their way.”

What you should be asking is, “why were they upset in the first place, and how can we prevent that from happening again?”

Bernstein Crisis Management

Doing this right requires a company-wide commitment, but you will reap the benefits.

First off, your stakeholders will be more satisfied, meaning you have less problems and more income.

Second, you’ll protect your reputation from the massive damage that can easily be caused by a few unhappy people with time on their hands.

Bernstein Crisis Management

Bernstein Crisis Management

You can either work with unhappy stakeholders, or they can work against you.

Which would you prefer?