12 August 2013

Saying No, Saying Yes, Profitable Business

Small-business owners often have trouble turning down business. As a result, they often end up extremely busy doing unprofitable work.

The Value of Saying No - NYTimes.com: " . . . .She took my advice and started to say no. And an interesting thing happened. The profit at her firm increased, and it became easier for potential customers to recognize her specialty. When the firm decided to specialize, it made a commitment to an industry about which it had specialized knowledge. Now, the portfolio that potential customers look at has other specialty food companies. They can easily see how the firm’s work helps specialty food companies get their message across. Most of us in business have never really learned how to say no. We are afraid that if we don’t say yes to everybody who walks in the door, no one else is ever going to walk in. When the graphic artist started to say no, she created capacity in her business to say yes to high-value and high-profit customers, clients she really could help. Instead of starting from scratch every time a new project appeared, she could start from a base of knowledge. Saying no to the person who doesn’t fit leaves you room to say yes to somebody who does.. . ." (read more at link above)

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The 7 Habits of Highly Effective Mediocre Entrepreneurs | TechCrunch: " . . . . persistence is not the self-help cliche “Keep going until you hit the finish line!”. The key slogan is, “Keep failing until you accidentally no longer fail.” That’s persistence." - James Altucher

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