A surprising lesson I’ve learned in business is the importance of saying no. You might think that to survive and grow in business you need to provide whatever value you can to as many people as you can and bring in revenue from as many sources as possible. “If they’re willing to pay!”
What I’ve found is that the most successful businesses are crystal clear about who they serve, what value they provide and what that value is worth to their target customers. That leads them to say no and not pursue other types of business.
By focusing and specializing we are able to refine the value that we provide; we’re able to see potential clients clearly, articulate the value we provide and demonstrate past results in ways that resonate with future clients.
If you’re in business, take the time to understand who is buying your product or service most profitably, why they’re buying, what value they’re getting from it and then spend your time focusing your communication and sales efforts on bringing in more customers just like them. You’ll get better at what you do and, shortly, you’ll become more profitable in the process.