The key numbers you gave your boss for his big client pitch earlier today were flat-out wrong. How do you minimize the damage to your reputation?

• Apologize immediately, face to face. Don't wait or try to smooth things over with a quip. Speak slowly, which will make the apology sound more sincere.
• Provide a brief explanation, then detail how you'll make sure the problem won't recur.  Example: "I pulled the figures from the most recent report posted on our intranet, but I didn't realize the marketing team had an even more recent report not yet posted. Next time, I'll double-check with Bob in marketing."
• Reassure the boss next time. Make a point of saying: "These stats are fresh from the marketing team as of this morning." The fact that you're focused on not falling into the same trap will speak volumes to your manager.

Done right, you might actually end up with a better relationship with the boss —and he with the client—as a result of the embarrassing moment and your honesty. Everyone makes mistakes. How you own up to mistakes, mitigate the damage and learn from them is often more memorable and instructive to clients and colleagues than the mistakes themselves.