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attempt to acknowledge the remark gracefully is appreciated, but the matching compliment will diminish the other person's gift of words to you. If you sincerely feel a matching compliment is in order, say something like, "You beat me to the punch; I was going to tell you how much I liked . . ."
Tip 868: When receiving praise, avoid put-downs of yourself or the other person.
Eliminate these as appropriate responses: "I did the best I could." "Tom had a big part in it also. I can't take all the credit." ''It was really nothing." "Win some; lose some." "I was lucky, that's all." "Oh, I'm not so sure it was of any consequence." "I try." "It was no big deal." "Oh, that? I do that all the time." "Well, I see you finally noticed."
When you brush a compliment aside, you're implying the other person has made a mistake in offering it. You're insinuating that the person misjudged the accomplishment or effort and gave the praise to the wrong person, at the wrong time, in the wrong situation. At best, when you give such a response, you make the one who offered the praise feel he or she has done something to embarrass you rather than honor you. At worst, you'll make the other person angry at your refusing the gift of praise.
Tip 869: When receiving praise, accept it graciously.
Never simply shrug and let a compliment "roll off" as if unnoticed, expected, or unappreciated. If praise embarrasses you and you feel at a loss for words, a simple acknowledgment is enough: "Thank you." "I appreciate your noticing." "I like to hear that." "That makes me feel really good." "How nice of you to say that." "Thanks for mentioning that. It makes me feel good that you noticed." "Thank you. I'm glad you're pleased with the results." "Yes, I did have to double-step to get the project finished. Thanks for the acknowledgment of the extra effort." "Thank you. I'm pleased it turned out so well."
Gifts of praise arrive too infrequently. Enjoy them.

 
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