TFT: Why “No” is Critical to Your Success
Saying “No” Protects Your Time and Business Growth
When you start out as a team of one you have to do everything. As your business grows you have to learn one very important sentence. That is what we are talking about today. What is that sentence? No.
Yes that is a full sentence and you have to learn it as you grow. This will ensure that you have the right customers, the right boundaries and that you are productive. More on each of these on today’s post. You will learn why it is so important to use this sentence to ensure your time and your business is protected.
Not all Clients are Created Equal
As you grow your business it is common to want to onboard every client. After all more clients means more revenue, which means more money in your pocket. While you do need more clients to ensure that your business grows, you need to understand that all clients are not the same. Some clients you will want to say no to and some clients you have to say no to, or your business will not grow. Who are some of those clients?
Extra demanding customers
Slow or no payers
Someone that is never happy
The client whose project always creeps a little
Clients like these will suck up all the time you let them. They will ask for more than the scope of the project. They will expect to be your top priority. In some cases they will and should be that. In others they need to take a back seat to other clients. They challenge is they will never accept that.
As you onboard clients pay attention to their needs. Which clients work with you on the projects? Which clients understand your limitations? These are the clients that you want to grow with. Be willing to say “no” to the other clients. They may bring in revenue, but they suck out a lot more value from your business. Protect your business and your time and say, “no”.
Setting Clear Boundaries as a Solopreneur.
As you find success as a business owner more opportunities will come your way. That is one of the great things about success. You will grow, you will build a network and people will want to work with you. However, not all opportunities are created equal, just like your customers. So you have to be clear about which opportunities you want to take and which ones you do not. Consider the following boundaries:
What are your BHAGs?
Business and person
Are you spending your time in the right places?
On your business
In your business
With your family
Resting and Restoring yourself
Is this within your realm of expertise?
There will be opportunities to grow yourself and stretch yourself throughout your career. The key is finding the right time and place in your life. When you are young and it’s easier to work more and travel more take those kind of opportunities. When you are settled and have kids make sure you have time for your family. When your kids become teenagers and/or grown you will have more time for more travel and more time at work. Consider your stage of business and your stage of life. Set clear boundaries with yourself and with others. The answer can always be “no, not at this time”. Some opportunities will come back around and others will just pass. But if you say “yes” to too many things you will only do them half as well. So be clear on your key goals and go achieve them today.
Saying “No” Increases Revenue and Productivity
This may seem less obvious to start with, especially the revenue piece. You are probably thinking, “I need to say ‘yes’ to every chance I get so I can build my brand and get more growth”. That maybe true in the very early days of your business, but as soon as you have traction you need to start practicing saying “No”. Consider this Steve Jobs quote:
Every “Yes” is defended by a thousand “Nos”.
To be the solution your customers need you need to stay focused. The way you stay focused is by saying “No” and saying it a lot. This allows you to keep your attention focused on the problem you are solving for your customers. Remember you are an evangelist for this problem. You eat breath and sleep this problem. If you say “Yes” to solving other problems how will you progress on solving this problem?
Sticking with the Steve Jobs/Apple theme here. Steve did not venture into the iPhone, the iPad and the Apple Watch all at the same time. No they focused on the phone, build a great product, innovated a couple of times and then added the iPad. Did the same thing there and then went to the watch. Now they are on to the VisionPro. They said “No” to a lot of things along the way, but that kept them focused on doing one thing great to start.
Also consider Uber. they did not venture into food delivery until ride share was solid. They actually did not even venture into ride sharing the way we think of it today right away. They focused on Taxis and Town Cars to start. Then moved to anyone in most cars. Then on to food and other items.
You will face opportunities that you have to say no to. You will want to grow beyond your means, that’s part of the process. Just ensure that you remember to say “no” more than you say “Yes”.
Action Step
Review your week. What on your calendar should you say “no” to? Is there a meeting that you have agreed to that you do not need to be in?
Pick at least one meeting this week and decline it. Say “No” to protect your time.
Additional Readings:
“Why Saying ‘No’ Can Actually Help Your Business or Startup” - Entrepreneur
“The Ultimate Productivity Hack is Saying No” - James Clear
“The Power Of Saying ‘No’ In Business” - Forbes
“Ways to Increase Productivity by Saying No” - Inc. Magazine
“The Art of Saying No: Unlocking Productivity and Balance in Business” - Medium
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