4 min read
Growth is often associated with doing more: winning more customers, launching more services and pursuing more opportunities. But for an SME, every new commitment brings a cost. In this episode, we discuss why the ability to say ‘no’ is an important part of strategic focus. As we put it, “every time you say yes, it’s like there’s a tax on the business”, because each yes can introduce more complexity, variation and workload.
We explore why saying no can feel particularly difficult for smaller businesses, where turning down an opportunity can seem completely at odds with the effort invested in generating leads and winning customers. We look at examples including Apple, LEGO, Procter & Gamble, Netflix and Intel, alongside lessons from our own experience of moving away from profitable work that no longer fitted where we wanted the business to go. The central question is simple: does this opportunity take us closer to the business we are trying to build, or does it distract us from it?
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Key Topics Discussed:
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Why every ‘yes’ creates a cost somewhere else in the business.
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The difference between genuine growth opportunities and strategic distractions.
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How a clear vision helps you decide which opportunities to pursue — and which to decline.
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What businesses including Apple, LEGO, Procter & Gamble and Netflix can teach us about reducing complexity and maintaining focus.
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Why profitable work can still be the wrong work if it no longer fits the direction of the business.
Who Is This Episode For:
This episode is aimed at business owners, managing directors and senior leaders in growing SMEs, as well as those responsible for sales, marketing, operations and strategy. It will be particularly relevant if your business has reached the point where taking every opportunity is creating complexity, stretching resources or making it harder to concentrate on your most valuable customers and services.
Quotes to Remember:
“Every time you say yes, it’s like there’s a tax on the business.”
“A lot of the opportunity comes in what you’re not going to do.”
“Just because you can doesn’t mean you should.”
Actionable Takeaways:
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Review your recent yeses. Look at the customers, projects, services and commitments you have accepted and consider the additional complexity each has introduced.
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Define where you won’t play. Be clear about the types of work, customers or activities that sit outside your strategy.
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Test opportunities against your vision. Ask whether each opportunity genuinely moves the business towards its goals or simply adds more revenue and activity.
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Review what you already do. Consider whether your existing products and services are still as valuable as they were when you first introduced them.
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Consider the hidden cost before saying yes. Factor in management attention, new processes, skills and resources, not simply the potential revenue.
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