Never assume

Happy customers

Once upon a time, my first job was with an international and mainly Far-Eastern bank. I wrote a nice letter of application in my best handwriting and was placed in the “Income Tax Department”. We only dealt with personal tax. Most of the bank customers we looked after had share portfolios, which were a lot more popular then than they are now.

I was taught the basics of dividend listing for tax returns. I remember with one of the early cases I was given I had compiled my dividend list in part from a book called Moody’s Dividends because some of the customer’s dividend vouchers were missing. I was quite proud of my initiative in looking up these dividends, having been shown how by another junior; the one next up the pecking order from me. I had replaced her as the tea-maker.

When I thought I had finished my dividend list I took my work to be checked by one of the more experienced clerks (remember we worked for a bank). I had to sit next to him while he went through my work.

His first question was “Why have you put in the list dividends for which you haven’t got vouchers?”

I said “I assumed they must have been paid” to which he responded “Never assume!”

Of course he was right. The shares might have been sold. Perhaps they were and there was a possible capital gain to declare. I should have asked questions. Of course that was my inexperience showing, but “Never assume” really should be our motto in business and maybe in our personal lives too.

  • Never assume our prospect knows what she wants
  • Never assume our prospect knows what we do and how we can help.
  • When we are working for our client, never assume any fact if there is any possibility we are wrong, for the job can then go wrong.
  • Never assume our client has told us everything. Ask those questions as I should gave done as a teenage junior.
  • Never assume our customer is happy with what we have done. Ask her if she is happy. Ask her if we could have done anything better.
  • Never assume our customer will keep coming back. Stay in touch with him. Make a telephone call if we have not heard from him for a while. Customer relationships are so important.
  • In fact, never assume.

That more experienced clerk who taught me a great lesson has been retired quite a while. I saw him at one of those staff reunions a few months back. Of course he doesn’t remember giving that lesson but I have never forgotten it. Facts are what we know. Everything else needs to be checked to ensure business runs smoothly, we make money, and customers keep coming back.

I try never to assume. Have you ever made an assumption which got you into trouble?

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