bandaged a friend yesterday whom I was helping to move to a new place. He grabbed a stanley knife because he did not put it away correctly. Funny thing was that I warned a mechanic who was fixing something on my bike that same morning to put away his tools correctly..
The friend later said he panicked because of all the blood...lol, it was a relatively small cut but bled like hell.
I put pressure on it for 10 minutes with toilet paper and lifted his arm. The bleeding was still going on a little after that, then we used the only right solution: toilet paper and duct tape

It stopped.
Luckily I took 2 first aid courses (regular and wilderness) and am always assertive in what I do, so the situation was dealt with pretty quickly.
(re)learned a couple of related things:
- Some, maybe most, people really are underprepared / have lost basic skills and therefore easily spooked. `in this case, he did not know how to handle a cut and had NO first aid stuff whatsoever. Therefore, it's good to know first aid, especially when you deal with knives regularly
- it's good to have skills that you will mostly never use, but that count in a situation.
- teach others to properly use tools
- never, ever panic, keep your calm, stay focused and act. Cry later.