Time to reap the benefits of saying "no" in business

When did you last say 'no' to someone in the business world?

When it comes to managing our energy and keeping our focus, turning down what is not feasible for us holds much power.

Except, saying 'no 'can be challenging. During a recent conversation with a female founder, she shared that she just had to turn down a couple of large corporations interested in carrying her company's products. The offer was extremely attractive: seeing her brand on the shelves of industry giants would translate into massive visibility and significant sales. But if she said yes to these retail titans, her smaller accounts, who had supported her since the start, would have to take a hit, receiving fewer products or being put on a different delivery schedule. She was worried she might have made the wrong decision.

Is it a "hell, yes"?

We all have to say 'no' to things that can seem attractive when they're first presented to us. A coach once told me that I should make decisions based on the following rule: "If it's not a hell, yes; it's a hell, no." When you put things in perspective, it helps to see that there is no reason we should say 'yes' to everything and everyone. But many of us, especially women, have been programmed to want to please and appease.

When I first launched my business, a mentor told me I should "say yes to every client." Probably some of the worst advice I've ever received (luckily, the person in question also gave me some other helpful insights). While focusing on business growth is critical when you start a business, you learn fast enough that there's more value in working with individuals or companies that share a common purpose and that some clients are not a fit. Insisting on working with clients or partners who don't align with your way of doing things, or your philosophy and even your values, won't be worth it in the long run. You'll end up spending a lot of energy and resources on managing a strenuous relationship... while you could be spending this time networking and building new positive relationships that are beneficial to your own personal energy - and your business.

For a good overview of when and how to say 'no' in general, check out this article by Bruce Tulgan in Harvard Business Review :

And sometimes saying 'no' is simply about preserving your mental health. We all take on a lot (and women especially tend to take on more); we see our time and energy stretched as a result.

"Yet there are clear benefits to the word no. Saying no can create more mental health stability by helping with self-care and build your?self-esteem?and?confidence?by setting boundaries. Saying no may be a daunting thing to do, but there are ways to make the process a bit easier."

From an article in Psychology Today :

Is "no" going to impact my business?

But where to draw the line when saying no might actually impact your business negatively? As an entrepreneur, saying "no" is a critical skill that can help you maintain focus, manage your time effectively, and protect the long-term success of your business. Here are some situations when saying "no" is essential:

Here are some situations when saying "no" is essential:

1. Misalignment with your vision and goals: If an opportunity or request doesn't align with your business's core vision, values, or long-term goals, it's better to decline it. Stay focused on your mission to avoid getting sidetracked by distractions that won't contribute to your business's success.
2. Overcommitment: Avoid taking on too many projects or responsibilities simultaneously. Overloading yourself can lead to burnout and reduced productivity. Be realistic about your capacity and only commit to what you can handle effectively.
3. Unprofitable ventures: While it's essential to take some risks as an entrepreneur, be cautious about investing time and resources in ventures that have little potential for profitability. Learn to assess the return on investment for each opportunity and prioritize those that align with your growth strategy.
4. Doubtful partnerships: Be selective when choosing business partners or collaborators. If you sense that a partnership might not work out due to conflicting values or business practices, it's better to decline the opportunity rather than risk a problematic collaboration.
5. Unreasonable customer demands: While excellent customer service is crucial, there will be times when a customer's demands may not be reasonable or sustainable for your business. Politely explain your limitations and boundaries, and consider whether accommodating their request is worth the potential negative impact on your business.
6. Scope creep: In service-based businesses or projects, clients may request additional features or services that were not part of the initial agreement. Learn to manage scope creep effectively and, when necessary, politely decline additional requests that fall outside the agreed-upon scope.
7. Time management: As an entrepreneur, your time is one of your most valuable resources. Learn to say "no" to non-essential meetings, events, or activities that don't contribute to your business's growth or personal development.
8. Opportunities with no clear benefit: Evaluate opportunities based on their potential benefits and risks. If an opportunity doesn't offer clear advantages or can't be justified in terms of time and resources, it's better to decline it.
9. Ethical concerns: If a business opportunity or request raises ethical concerns or conflicts with your values, it's crucial to prioritize ethics over short-term gains.
10. Financial constraints: Avoid unnecessary expenses or investments that could strain your financial resources. Make informed decisions about spending and avoid committing to expenses that might jeopardize your business's financial stability.

Remember, saying "no" doesn't mean being rude or dismissive. If you're polite, professional, and considerate when declining opportunities or requests, things should go a lot smoother. Communicate your reasons clearly and, if possible, offer alternative solutions or suggestions that might be more suitable for the other party.

Mindful beauty: Graydon Moffat of Graydon Skincare

This week's guest on The Brand is Female | Femmes de marque podcast built her business as a result of saying "no" to a line of work and lifestyle that suited her no longer. Graydon Moffat , Founder and Chief Idea Officer of Graydon Skincare , left behind her career as a yoga teacher (which came with a tough schedule and sacrifices to her personal and family life that she could no longer sustain) to focus on creating products that have a profound impact on her client's wellness. In addition to knowing when to say 'no', she had some good advice for fellow female founders:

"Find your community. I would say that my team is my family. And there might be some mentors out there who would say, no, no, no, don't think of your team as your family. Business is business, and business and personal are separate. But I have a very democratic approach, a non-hierarchical approach with people that I work with, whether it's a higher-paid person or a brand new intern. I think everybody needs to have a voice and needs to be respected. And leading with kindness is not just a kind thing to do; it's sensible. That's how people will do their best work. So, creating a real connection. With the people that you work with, whether you're paying them or they're your suppliers. Dive deeper, and ask questions. And that is important."

So, what's one thing you'll say 'no' to this week?

As always, thanks for reading my newsletter and tuning in to The Brand is Female | Femmes de marque podcast!

Until next week,