Price your word, not just your product

Anyone can discount a product. The expensive thing to discount is your word. Deliver late once with a good excuse and the excuse becomes your brand.

In a long business life you will sign contracts you regret and shake hands on terms that turn against you. Honour them anyway, loudly and without theatre. The market you actually live in is smaller than you think: a few hundred people who talk to each other about who can be trusted.

A good name compounds like capital, and like capital it is easiest to lose in one careless afternoon. Guard it accordingly.