Most startups are overenthusiastic and this is why they have a very hard time turning down opportunities. They are probably too scared that they will miss out or they simply don’t have the discipline to say no.
Whatever the reason may be, it is actually extremely wrong to grab onto every opportunity that comes your way. Sometimes, saying no is the best thing to do. But how?
Here are three excellent steps:
Follow your Standards
You need to have clear standards to begin with. You should then weigh the opportunities that come your way against these standards. When you do that you will be able to filter out plenty of them and say yes only to the best ones. Your standards should include a few questions that you should be able to answer positively.
- Does their culture match ours?
- Will the engagement be profitable?
- Are we positive that we can work well together?
- Will our efforts make a difference?
If you don’t have positive answers to these questions it is very likely that you will fail. Instead of going through failure it is ideal to reject opportunities that don’t match your criteria to begin with.
Talk to your Team
You have an entire team working with you so that you don’t feel like you should take all the decisions alone. You can always turn to your team for suggestions and advice. Engage your internal partners and take advantage of their experience as well. Discuss the opportunity,go through the facts, and then make a decision.
Engaging your team comes handy especially because of difference in perspective. Something that you are not able to see in the opportunity may easily be visible to your teammates.
Be Aware of the Outcomes at All Times
Learn from your previous decisions. Look through the outcomes of those decisions so that you understand where you went wrong. Which seemingly good opportunity caused problems? What information did you not pay attention to?
Also, which opportunities worked in your favor? Did you have any doubts when you started? Were the doubts assuaged as you progressed? How?
All these steps will ensure you make better decisions in the future and not get carried away.
In business, you have to learn how to reject certain opportunities because saying yes all the time can corrode your resources and profitability. Take a few steps to learn and grow accordingly.