Hello and welcome to Business 300.

My name is Philip Kulenshov and this is 300 Seconds About Business.

We're all a busy people, so I have five minutes or less to get my point across.

I don't want to over promise and under-deliver.

Five minutes is in the name.

Five minutes is the game.

Delivering on expectations is a good summary of what every business owner does.

We make promises and then deliver on them. This happens with all parties in transactions.

Customers, employees, financiers, vendors, business owners deliver on them. This happens with all parties in transactions. Customers, employees,

financiers, vendors, business owners deliver on expectations. It's what they do. That phrase,

delivering on expectations, is a twofold task. But most of the time, only one part of it is

considered. Business owners primarily consider the aspect of delivering. And that's good because that is the

objective. People don't care about the promises we make. They care about the promises we deliver on,

so we rightly focus on making it happen. But delivering on the expectation is only one part of the

equation. In terms of chronology, it's the secondary part. The delivery happens last. Before expectations can be delivered on, they must be set.

The delivery is dependent on the expectations that are set.

And because customers are the point of the business,

a few words about setting expectations with customers.

Many business owners don't consider how to manage the customer's expectations.

They're stuck in holes that they

agreed to climb into and keep scrambling miserably to, quote, deliver on expectations.

We have to understand that the same way we are responsible to deliver on expectations, we're also

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