Scott Tucker was a race car driver who amassed tremendous wealth by charging borrowers incredibly high interest rates through his payday lending operation. Tucker is currently spending 16 years in prison for criminal racketeering. There are many victims of Tucker’s operation who would like to see restitution. The Federal Trade Commission levied $1.27 billion against Tucker to repay victims. But ...
If you’ve ever watched the television series, NCIS, you likely remember that the main character, Jethro Gibbs, has lots of rules he expects his team to abide by. One of those rules is to “never apologize.” Every business makes mistakes occasionally, and when they do, the customer is waiting for an apology. When there is no apology, it can often ...
There are industries that are trained to never say they are sorry for their mistakes, often due to legal liability. The irony is lawsuits often arise because someone didn’t hear the words, “I’m sorry.” Imagine your frustration if someone driving a company vehicle ran a red light and destroyed the side of your car, but they refused to say they ...
One business risk often overlooked is the risk of having to pay restitution. According to vocabulary.com, restitution is the act of making up for damages or harm. If you own a restaurant and ruin someone’s lunch, restitution can cost less than $20. But, if you’re a doctor and your patient dies, your restitution could cost millions. What about your industry? What ...
My nephew, Shawn, gets bussed daily to a local machine tooling business where he operates a laser. This job gives him relief from his prison cell, provides him purpose, and enables him to make restitution to his victims. The most meaningful benefit to Shawn, however, is what this job has done for his relationship with his daughter. Shawn’s past mistakes ...
According to an Association of Psychological Science article, when customers are wronged, there are three critical factors in an apology. The third factor is an offer to repair the damage, or what the Bible calls restitution. Years ago, my wife, Kathy, was involved in a multi-level marketing business. She had a transaction that didn’t go well. She needed to make ...
According to a 2016 Association of Psychological Science article, when customers are wronged, there are three critical elements in an apology. The first element in our series is acknowledging personal responsibility. Years ago, I filled my car at a gas station. One block later my car sputtered and died! When I realized I had been sold bad gasoline, I was ...
A 2017 Customer Rage study by The WP Carey School of Business discovered that 73% of unhappy customers were satisfied when they got monetary relief and an apology. Although wronged customers deserve monetary relief, we also need to apologize. Throughout scripture, God calls us to repent of our mistakes. Jesus said in Luke 15:10, “I tell you, there is joy ...
Kathy and I were having dinner with some friends when it seemed that nothing went right with Kathy’s meal. Multiple mistakes were made by the chef. The manager did her research and then listened to Kathy’s story. She then said candidly, “We blew it tonight and we are so sorry. Your meal is on us and a special dessert is ...
Equipping Others to Do Work Differently
