This is HUGE! To me it is the foundation of a successful business. Without it people can’t trust each other, won’t take risks together, and won’t support each other when times get tough.
If you make a promise you need to keep it. If you can’t keep it, you need to let others know ahead of time and have a plan B for them. You also need to understand there’s a bit of a loss of trust every time you break a promise.
It’s that simple!
The corollary to keeping your promises is to be very careful on what you commit to. Like the earlier comments about being everything to everyone, you can’t! Just make sure when you say no you explain why and help them find an alternative path to a solution.