Systematically saying “no” as a business owner is both vital and counterintuitive. Many entrepreneurs start out by saying “yes” to their customers. They say “yes” to new features, discounts, one-off products, and more work. Saying “yes” is a great way to get customers in the door when you are just starting, but it is also an excellent way to build a business that offers an overwhelming number of products or services that only a few people want. Or alternatively, to create a company with so many features that only you can manage it all.
Adi Klevit recently discussed the value of saying “no” in an interview with the CEO of Get Staffed Up, Brett Trembly. Here are a few benefits to saying “no” and protecting your time:
- Increased profits as you can refocus on the product/services that improve your bottom line.
- More time to build your business.
- More time for vacations and family.
- Viewing your time as an asset that you can put to use for greater company growth.
- Time for systematization and plugging gaps in your business.
As you begin to say “no” and delegate necessary tasks that don’t fall under the “CEO” purview, you will find that you can focus on the bigger picture and see where your business can increase client retention and profitability.
Use These Three Questions to Help You Delegate
Delegation is a challenge for many business owners. Often, a business starts as a one or two-person show, meaning a company owner feels like they should be doing it all. But you should not be doing it all. Your time is too valuable to spend setting up an ad campaign or cold calling.
Here are three questions you can ask yourself about a task to determine if it’s something you should delegate.
1. Am I the only one capable of performing this task, or could I document my process and give it to someone else?
Some tasks, like meeting with shareholders or pivoting the company, legitimately belong to a CEO.
However, many business owners perform tasks like delivering their service, doing sales, setting up marketing campaigns, or accounting. In many cases, another person can do these actions as long as the business owner documents their processes and ensures the employee understands what needs to be done.
2. How much would I pay someone else to do this task?
A 2022 study found that the average American CEO is paid $2.3 million. There is a wide range of CEO salaries, but business owners/CEOs are often paid more than any employees. If someone who gets paid less than a CEO’s salary can perform the action you are performing, then you are wasting money and should delegate that task.
3. Do you get your “to-dos” completed in a day?
Most business owners have a to-do list longer than the Ever Given container ship. If your list is enormous, you need to offload admin tasks or tasks you can train others to do. Otherwise, that “to-do” list will only ever get longer.
How to Systematically Start Saying “No”
Here is a quick “how-to” that you can use to determine when to say “no.”
0. Analyze your business. Where are things right now, and where would you like them to go in the next year or two?
1. Set your annual goals.
2. List the action items for achieving those goals. Do they include delegating tasks, honing your business offering, pivoting, or reaching a new market? These are all opportunities for you to say “no.”
3. Use these five methods to help you get into the habit of saying “no.”
- Review your goals before providing an answer.
- Tell someone asking a yes/no question to examine their proposal to ensure it aligns with your current business trajectory.
- Check if you have staff to accommodate a significant change or special request.
- Run a P&L analysis before saying “yes” or “no.”
- Set up a checklist for saying “yes” or “no” to any request that will cost you time.
3. Determine what needs to be delegated or changed immediately.
4. Document the process utilized during delegation or to facilitate the change. For example, suppose you hope to automate your business as much as possible. In that case, your marketing team may need to set up an AI bot that provides vital information in direct messages. Alternatively, if you plan to encourage more calls, you need someone to answer the phones and ensure sales are closed.
Any delegation or changes can be facilitated using well-documented processes and procedures.
5. Delegate/make the planned changes.
6. Stay on course. Use your checklist for saying “yes” or “no” to anything that does not align with your business goals.
Saying “no” is difficult, but it can help keep your company on course as you continue growing and scaling.
Are you ready to take your business to the next level by documenting systems and implementing processes? Consult the experts at Business Success Consulting Group. Click here for your no-cost consultation.
