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More than 20 years ago, Bill Gates issued his now-famous “content is king” line in discussing how the then-nascent Internet would become a marketplace to easily distribute and commodify information.

How a company shares bad news and what it does next can determine the impact on its reputation for years to come. Capital One chose to manage the crisis quietly and internally, handling customer concerns and complaints behind closed doors, but not every company can (or should) follow that approach. Here are some quick tips to proactively share bad news.

You never get a second chance to make a great first impression. Every day, we form lasting impressions on new people, places, and products that we encounter. Have you ever thought what first impression your business is creating? Is it positive or negative? Well before you’ve finished your first PowerPoint slide or made it halfway through your elevator pitch, a potential client has already formed a view of your company.