How we manage crisis could have a lasting effect on our fortune and image, which may be either positive or negative.

Target recently faced a huge retailer data breach. Below are some of the lessons as documented by Forbes.

1. When faced with a crisis that affects your clients directly, you should own the problem and get it out in the public fast. No matter how much it hurts, do not allow others own it for you. Let the public know how much you know and don’t know about the crisis as early as possible.
2. Keep up with regular updates as more information become available.
3. Put out your message yourself,  guard your integrity and respect your customers. You may listen to advise from various experts, but let your message represent what you represent.
4. Avoid making false assurances. It is better to be criticised for not having sufficient information than to mislead the public.
5. Get the bad news about the crisis out in public as quickly as possible and then go back in to start finding solutions.
6. Let the tone of your response be commensurate with the magnitude of the problem. Don’t overplay or downplay it.
7. In a crisis situation, people appreciate straight talk more.
8. Avoid such general comments like “We are taking this matter seriously”. Rather be specific on the steps that are being taken.

This was culled from Forbes. For the full story, please read.