I have had two recent discussions with two different business people. One of them has had a very successful business with one main client. The client kept asking for additional services and was willing to pay. The problem is by taking on more and more work from this one client it resulted in them not trying to add more clients. Unfortunately, this one client has fallen upon bad times and they have cut back their services dramatically and are possibly going to end their relationship with this business person altogether.
The second business person has recently bought three pieces of property, each with a major franchise signed to long term leases with favorable terms to the owner. He has been asked by the franchise to consider buying more property with equally favorable terms but he has said no because he doesn’t want to be dependent upon one franchise in case they were to go under (it’s a very stable franchise especially in today’s economy).
Not many people are willing to say no to success but when looking at long term stability and survival it’s something people sometimes have to do. Other examples of the importance of being willing to say no would be when a small manufacturer receives a huge order (for example from WalMart) and in order to fulfill this type of order they have to short some of their long term customers or make major expansion plans which would be potentially disastrous if the large orders don’t keep coming year after year.
On the one hand one must be willing to take chances but on the other hand, being willing to say to success can result in long term success for your business.
Just something to think about.
Have a great day!