According to William Buffet, “The difference between successful people and really successful people is that really successful people say no to almost everything.”
NO. A word which many entrepreneurs seem to steer away from because they fear they will miss out on great opportunities which could skyrocket their business. But what if saying “no” could make you more successful? What if saying “no” would make you enjoy your business?
Here are five reasons why saying “no” could lead you to greater success
REASON 1: The business opportunity won’t generate a profit
If you have to under-price your product to get a deal, it is not a good deal. Even if you tell your customer that the price they are receiving is an introductory deal to get your foot in the door of a potentially lucrative client. The client will often expect to continue to pay the price which you started the deal with and may not do business with if you increase the price for future deals.
REASON 2: The business opportunity is not in line with your vision for your business
Do you have a clear vision for your business? Have you set goals you would like to achieve in your business? Does the new business opportunity line up with your vision and goals? If you have said “no” then you may need to pass up the current chance to be able to take a better opportunity which lines up with your vision and goals for your business.
REASON 3: The business opportunity is not something you can do well
Have you heard yourself say “yes, I can do that” to secure a client only to realise that the work you have taken on is not within your expertise? By taking on work which you are not equipped to do will only hurt your business more in the long run than you could anticipate. It is important to take on work which you excel in. If you know you can collaborate with someone to get the work done then you can consider taking on the work, but you must make sure that those who you collaborate with have the same work ethic as you.
If you don’t and the work is not part of the core strengths of your business, then you should rather pass on the opportunity. By doing this, you will show your client that you understand your business strengths and how to make the work you do with them a success.
REASON 4: The business opportunity is offered by an abusive client
During the prospecting stage, it is important to suss your client out. If they make demands which are unreasonable or disrespect you and your staff then you should kindly decline to work with this client.
There is a good chance that their behaviour won’t improve when they start to pay money for your services. Abusive clients will also lower the morale of your team. Therefore remove the client before they infect your business negatively.
REASON 5: The business opportunity does not align with your beliefs
You will struggle to work with a customer if your beliefs are not aligned. Furthermore, it may be hard for you to put your heart into a project which makes you feel like you have compromised yourself. Therefore if a project isn’t aligned with your beliefs then you should not do it.
By assessing opportunities through these five reasons, you will be able to make the right decision and work towards creating a successful business you enjoy.
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