When to Say NO to New Opportunities?
Saying no to new opportunities can be difficult. The fear of missing out can happen for anyone. Life can be full of opportunities. However, we need to be ready to accept new opportunities and ventures. If you are an entrepreneur, you probably faced the dilemma of answering an important question. Should I say Yes, or should I say no?
Saying no can mean a lot of things. It can mean that you are not willing to take a risk. Other times, it could mean that you don’t have the time, resources, or skills to go for it. People think that when you say no to an opportunity, it will hunt you to your death bed, and you will always regret not taking the chances you have instead of saying no.
The truth is, people hate to turn down great opportunities. This is why we see many “serial entrepreneurs” profiles bios and business cards. We think that this person is juggling many ventures at the same time. He must be successful. The reality might shock you. Many people are “serial entrepreneurs” because they have FOMO (Fear of missing out). These entrepreneurs jump on any project that has potential. Having tens of projects at the same time.
This can be good, but in most cases, it isn't good. Having to juggle multiple projects and ventures simultaneously is one of the worst things an entrepreneur can do. He will be famous, and people will call him successful. On top of that, he will make decent money. The problem is, his mind is all over the place. I understand that there are people with the skill of working on many projects simultaneously and doing good. But the important things here that we all need to ask ourselves before saying no is:
— 1 —
Do You Want to Have a Good Company or a Great Company?
- Suppose you are fine with having a good company and think you can handle multiple projects simultaneously and manage people and resources. Then you are good to go for it.
- However, If you are looking to build a great company and want to play the long game, then stick with one project at a time and try to say no to other opportunities that might interfere with your current game.
— 2 —
Are You Passionate About What You Do?
- If you are passionate about what you are currently doing, I don’t see that sabotaging your current venture with a new one will help.
- You could end the venture that you do not see any progress from and start the new venture only if you figured out that you are more passionate about the new venture.
— 3 —
Is Money the Only Motivation Behind Saying Yes?
- If you are motivated by money — which is fine to have — you might want to consider looking into it in more depth. In my opinion, saying yes to ventures driven by the financial motive is completely fine, but if it was the only reason, then the venture is prone to failure before it even starts.
- Having a passion for what you are doing is key, but you might not have passion and still get the job done great, then you are good at what you do, and your motive for money plus your skillset is working for you.
— 4 —
Can It Take You Away From What You Love to Do?
- If saying yes is taking you away from what you love, then don’t say it. Leaving a job that you enjoy and love doing for another that is less enjoyable is the worst decision you can make.
- If it is taking you to places that you dreamt of going to, or if saying yes means that you will work on something that brings you joy, happiness, and self-improvement, say yes, even if it means less money.
“Money does not bring happiness if it was made while being unhappy.”
— 5 —
Will You Learn Along the Way?
- Will saying yes to an opportunity means that you will learn something new? If yes, while not harming your current ventures and plans, then go for it. However, if you are not going to learn from starting something new, you can skip it and say no if it does not add anything to your personal skills or your team.
Thanks for reading; I hope you enjoyed it.
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You can reach me at @alounpro on Twitter.
Have a lovely day!
