Invoice Bazaar Blog

When would it be prudent for a small business owner to say ‘no’?

By Invoice Bazaar | July 31, 2021

As a small business owner, you may have to say ‘no’ under various circumstances so that you can focus all your time, energy, attention, and resources on pursuing and achieving specific and long-term business objectives and goals that you had initially set out to accomplish when you had conceptualized or launched your business venture. 

On the other hand, saying ‘yes’ to every business opportunity or expansion proposal or diversification project or request for donation that comes your way will force you to spread yourself too thin and thereby make you scatter away your precious energy, time, and funds across too many fronts without any focus. It will dissipate all your attention and resources, because of which you will be left with no stamina to focus on the growth and success of your business enterprise.

Here, let us now discuss when and where to say ‘no.’ It would be prudent to say ‘no’ when you have difficult clients, underpaying customers, or someone who is making unreasonable demands or random requests for donations or freebies. Similarly, if your firm is getting a big order that is unlikely to fetch any profits, saying ‘no’ to that order is necessary because it is impossible to sustain unprofitable business ventures for long. Furthermore, if you are likely to land up in some tricky situation by saying ‘yes,’ it is better to say ‘no’ so that you can avert the impending crisis or stress or burnout, or waste of time. 

Finally, let us look at how to say ‘no.’ You should always be extremely polite and diplomatic when you turn down or reject a business order, a new customer, an invitation, or a business proposal. It will ensure that you don’t sound too rude because you never know when you will need someone’s help or support in your life or business activities. Responding politely and diplomatically with a ‘no’ answer will also make sure that you don’t burn your bridges with any of your stakeholders and your goodwill remains intact in the market.