Small Businesses Shouldn’t Be Afraid To Say ‘No’
Many small businesses would think you’re crazy if you asked them whether they turned down business. In the first few years of trading, most small business owners chase or say yes to any business they can find – irrespective of whether they have to vary their operations to accommodate it. It is important to have a ‘core focus’ identified in a business, which encompasses all of your strategy, intended mode of operation and the process you use to get where you want to.
There will always be certain customers and potential orders that you know would be more demanding, and take up more resources of your business, or would lead you away from your core focus. As an entrepreneurial business owner you need to recognise that these customers can detract from your overall strategy, and may even deteriorate your performance on tasks within your core focus. Rather than putting your business under greater strain and accepting the work provided by these customers, you should consider saying ‘no’ (or perhaps even outsourcing the work or recommending it to other suitable providers).
The CEO of the executive recruitment firm The Carmon Group, Chris Carmon, said that it is also important for small business owners to assess not only the immediate revenue that a client can bring in now, but must also consider their future impact on the company, in terms of profitability and time.
In summary small businesses should try and see the ‘big picture’, looking at the all-round impact that a tricky customer may cause. If you consider that the interests of the customer doesn’t mesh with your business’ core focus and would take too many resources for the size of the project then don’t be afraid to turn down the business.
Quote Source: Miami Herald: www.miamiherald.com/103/story/97454.html
Written by Chris Pangburn.
