Learning To Say No So You Can Say Yes

Something interesting has happened in my business over the last couple of years. Over time we’ve shifted the type of clients we take and it has enabled the business to grow. It started by raising our prices. Setting prices higher is a way of saying no to a level of clients that you cannot afford to continue serving. Then we stopped taking certain types of clients, and now we take almost exclusively business clients. Making these changes requires me to say no to a lot of people. No, we’re not taking new individual tax clients. No, we won’t continue charging the same fees we have been for years. No, no, no. 

But something great has happened as well, by saying no to things that aren’t contributing to our success, or those who take more of our resources than we can afford, we’ve opened up space for new, bigger, better-paying clients. I want to be clear that we love serving clients of all shapes and sizes and we’re not in the business of leaving our clients out in the cold. We’re grateful our clients put their trust in us. But I wanted to share these thoughts with you because I know that many of you are business owners who may be in the same position that I have found myself in over the years. Sometimes, to say yes to the next big thing for your business you have to say no to a handful of small things along the way.

So where do you get started?

When you depend on your clients to pay your bills it can feel scary to say no to opportunities. The first thing you should do is get close with your accountant. If you’re in the habit of seeing your accountant only at tax time, you’re missing some important opportunities. A great accountant can help you tease out exactly where your money is and isn't coming from. When your head is down and you’re thinking about tree trimming, hair styling, or legal briefs, it's difficult to see the details. As an accountant, I have a view of my clients' finances that they don’t often see. Hiring the right accountant is like having a Virtual CFO on your team.

The ultimate no is turning down work to open yourself up for better work.

And you simply cannot do this if you’re not in a good financial position. If your business is on the verge of going under at the end of each month, it's hard to imagine how you could ever turn down a job, even the worst paying jobs. If this sounds familiar, it's time to take control of your business finances. After all, the purpose of business is to make money. So if you’re not making money, you’re not running a business, you’re running a charity.

When figuring out how to say no, a good accountant is key to your success. You need someone on your team who can help you discern what parts of your business are making you money and the parts that are draining your resources. If you’re not currently partnered with an accountant like this, we can help. Contact us today, and together we’ll start honing your “no” muscles, so you can say “YES!” more often.