There’s a strange kind of confidence that creeps in when you’ve built your career on giving advice. If there’s anything you take away from this article, know that it’s a false sense of confidence. Nobody is the Oracle or ChatGPT (why are we all trusting ChatGPT with everything?!).
Confidence makes you start to think you’ve seen every angle. You trust your gut. You might even skip the disclaimers. But that’s when things can go sideways. Because being almost right? That’s the same as being completely wrong when someone takes your advice and it costs them money, time, or reputation.
Read on to learn about the risks of being ‘almost right.’ And it’s worse than a bruised ego.
There’s No Such Thing As ‘Almost Right’
You can’t hand someone a half-solved puzzle and call it guidance. It’s either useful or it’s misleading. That’s the brutal truth about advice. You might have had good intentions. You might’ve been close. But people don’t care about that.
One wrong interpretation. One missed variable. One assumption. That’s all it takes to turn a well-meaning suggestion into a full-blown disaster. Especially if the person on the receiving end thinks you know what you’re doing.
“Almost right” makes sense in casual conversation. It doesn’t work when someone’s business or finances are at risk. And if you work in consulting, coaching, marketing, accounting, legal, or financial services, you’re probably nodding right now (or sweating).
Why You Should Be Careful Giving Advice
People don’t just take advice. They follow it. And when they do that, they often assume it’s going to work because you said it would. So if it doesn’t? They remember who told them what to do. That’s when the finger-pointing starts.
You need to think twice before you fire off a recommendation, especially when you’re in a professional setting. One careless tip in a workshop. One offhand suggestion in a client call. One optimistic “you’ll be fine.” That’s all it takes.
Because here’s what many people forget—if your advice leads to real-world damage, and if that damage costs someone, they may not care whether your heart was in the right place.
We understand there are some industries built on giving advice. If you’re in one of them, we’d hope you know what you’re talking about anyway.
What Happens When Your Advice Backfires
Sometimes the fallout is small. A disappointed client. An awkward conversation. A refund. But sometimes it’s worse. Sometimes it leads to lawsuits, broken contracts, or regulatory trouble. You soon find yourself paying your excess for your professional liability insurance.
Also known as errors & omissions insurance coverage (E&O), it’s a safety net for people whose businesses run on opinions, forecasts, and recommendations. It doesn’t erase the damage. It doesn’t protect your reputation. But it can keep a mistake from sinking your business financially.
It helps cover legal costs. It helps with settlements. It steps in when a client says, “You told me this would work, and now I’m worse off than before.”
Without it, you’re exposed. Because no matter how smart you are, you will get something wrong at some point. And if it happens to the wrong client at the wrong time, your “almost right” moment can become a full-blown nightmare. And everyone knows it’s the customer who’s always right.
The Businesses Most At Risk
Some industries are more exposed than others. Not because they’re careless, but because their advice carries weight. The businesses most at risk include:
Financial advisors and planners
Marketing consultants and agencies
Business coaches and strategists
Software developers and tech consultants
Accountants and bookkeepers
Legal consultants and compliance advisors
If you’re in any of these spaces, you should already be thinking about what happens when your advice misses the mark.
People expect your advice to be right, or at least safe. When it’s not, they look for someone to hold accountable. If that’s you, you must have a plan.
Think before you speak. Be clear about limits. Get insured. And don’t ever assume that “almost right” is close enough.
Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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