How to Know When to Say ‘No’ to a New Opportunity
In life, there are times when saying ‘No’ is just the best answer to an enticing opportunity that you are not comfortable with. As an entrepreneur, you need to learn how to say ‘no’. You need to learn how to politely say no to a business proposal that comes your way if you want to be successful.
We make decisions every day. Some are so automatic or easy we barely give them any thought.
Others give us pause to consider whether saying YES or NO is the right choice.
There is a saying that goes, “Not all good opportunity is for you”. So, saying no to some opportunities is just the right choice. With so many invitations and opportunities to grow your business, make money, enhance the quality of your life, knowing how to turn down a business proposal politely can be confusing and overwhelming.
Seriously, in life, you need to carefully guard your ‘yes’ so you won’t end up in trouble. If you are having the problem of knowing when to say ‘No’ to a new opportunity when they show up, these 5 questions form the foundation to tell you when ‘No’ is the best answer:
When to Say No to New Ideas and Opportunities and Why it is Important
1. Would doing this benefit me in Anyway?
Before you say ‘no’ to a new opportunity, ask yourself the question above. If your ‘yes’ is bigger than your ‘no’ in many ways, then saying ‘yes’ to it won’t be of any harm.
But, when after you have considered the factors involve and you find out that agreeing to the course at hand won’t favor you or be of any benefit to you, this is when to say a big ‘no’.
I remember a blog owner reached out to me requesting that I do a guest post on his blog positioned for older-aged men, looking to start their own business later in life. I turned down the offer for 2 reasons.
First—the audience are not my type of audience I would like to build relationship with. My audience is young people looking for how they can go about starting their own businesses while keeping their full-time jobs.
Second—it was an unpaid project. My time is only spent on things that give me benefit in one way or the other.
2. Is this something I can and want to do?
To be honest with you, it is not everything that benefits me that I concur to. If something that will benefit me but the opportunity looks like what I don’t want to do or can’t do because of my principle or value, I will honest turn it down. You also need such attitude.
For example, you built a social media app so that you can grow it to a stage where you can sell it to either Mark (he is the guy buying most successful apps these days) or Microsoft. Then, someone meet up you and gives you a job to build such an app because he likes the one you built for yourself and offers to pay you handsomely.
Irrespective of the financial benefit, this is not what you want to do. What you want to do is grow your app and sell it for the millions of dollars in your mind. You spending your time you would have used to promote your app and using it to build someone else’ app won’t get you your desire goal.
It may happen that after you finish building the client app, another offer will come again because this guy must have told his friends that you are helping him build his app. And before you know it, you have deviated from your goal. You see my point?
3. Is this more important than what I am working on right now?
Sometimes saying ‘no’ is all about priority. Sometimes as an entrepreneur, many business ideas do flow into our mind and look profitable if we venture into but, a second thought of, ‘is this the right time for it?’ flow through our mind and we start thinking again.
If your present work is more important than any new opportunity that comes your way, it is better you say ‘no’ to that opportunity and write it down in a book where you can attend to it later if you wish.
4. What is your Body telling you?
Your emotion can be a sign to when to say ‘no’ to a new opportunity. Sometimes it is advisable to follow our intuition, sometimes it is just fear holding us back.
There is no absolute formula to tell using our emotion to know when to say ‘no’ to an offer. But, since you know yourself very well, you should be able to decide using past experience of how your emotion has helped you avoid trouble by saying ‘no’ or win an opportunity by saying ‘yes’.
5. Have you taken time to Meditate and be still to hear your Heart?
If your decision is not urgent, take a 24 full hours to sit with the situation. Use the time to tune into your heart, weigh your pros and cons, meditate, confer with trusted friends who can be objective if you need help with clarity and perspective, and then come back to your heart. You will probably figure out the best answer to give.
If you do not feel 100% confident and at peace with saying ‘yes’ then the appropriate response is saying ‘no’. Feeling confused can mean something feels wrong and you need more time to sit with the situation.