There was an interesting study conducted relating to income and one’s ability to say, “I’m sorry.” It showed those who are more inclined to apologize for behaviors when at fault were more likely to earn more income.

When Zogby’s researchers queried 7,590 Americans, both male and female, they discovered that people who are more willing to say “I’m sorry” make more money than people who rarely or never apologize.

People earning over $100,000 a year are almost twice as likely to apologize after an argument or mistake as those earning $25,000 or less, the survey found.

“a person’s willingness to apologize was an almost perfect predictor of their place on the income ladder,” the study says.

More than nine out of ten (92%) of $100,000+ earners apologize when they believe they’re to blame, compared to 89% of people earning between $75,000 and $100,000, 84% of those who make $50,000 to $75,000, 72% of those earning between $35,000 and $50,000, and 76% of people earning between $25,000 and $35,000. Among survey respondents who make $25,000 or less, just 52% say they usually apologize when they know they’re at fault.

…saying “Oops, I’m sorry” now and then is an indicator of strong people skills, essential for moving up in almost any organization. The link between income and willingness to apologize “shows that successful people are willing to learn from their mistakes and are keen on mending troubled relationships,” says British business coach Peter Shaw.

Indeed, taking the high road – acknowledging one’s share of blame, or even accepting some blame when it isn’t justified – is a trait shared by many great leaders, because it tends to build solidarity with the troops.

How does this relate to being an entrepreneur?  Our clients are our livelihood and being able to acknowledge we are not infallible is just good business.  Even if we don’t earn more client’s money by acknowledging and apologizing for our behaviors or mistakes, we may be able to avoid costly grievances or malpractice claims for doing so.  The medical profession has found they pay out less on malpractice claims for owning up to their mistakes because quite often without an apology, the patient’s anger gets greater and greater.  It’s been found saying those two magic words, “I’m sorry” and really meaning it helps to release the steam that feeds the “I’m going to sue you” patient train when it comes to medical malpractice.

But there is another reason.  Saying you are sorry (when you read the article you will find the most successful people apologized on occasion for things for which they had no fault.) has the ability to secure the relationship by showing respect for the client, their thoughts and feelings and can, in fact, bring clients back to you for services.  It may also generate more referrals which translates into more income for you.

And in general, I believe we have become a nation of people fearful of taking responsibility for our actions, good and bad.  We’ll claim our success is based upon good luck, happenstance or contributions of others, versus taking pride and pleasure in how we created that supposed ‘good luck.’  And conversely, we are afraid to take responsibility for our mistakes for fear it will visit consequences upon us we don’t want to deal with, whether financial, legal or personal.  But therein lies the secret to self-respect, understanding we have choices.  With choices come responsibilities and consequences, good and bad.

When an attorney takes on a client to help them resolve their legal matters generally that attorney is quick to acknowledge their successes for the client because this builds reputation. But how often do they openly acknowledge their mistakes?  I’m not sure we have a profession which permits this type of openness with our colleagues or clients. We are expected in some ways to be superhuman by both.  It’s a very tall order.

Have you ever had the occasion to apologize to a client and saw the relationship with your client grow stronger and more profitable?  Please share.