FAST COMPANY: How do you handle mistakes?
BYRON UDELL: The natural and immature response is to get defensive. In business, that's the worst possible way to respond. You have to own up and take responsibility, understanding that no matter that who in the organization made the error, the buck stops with me. Then, I precede to apologize sincerely and do everything in my power to remedy the situation. Most people understand that mistakes happen, if handled appropriately, they can actually help build the trust between a company and its customers.