Many opportunities may initially sound very interesting, but not all of them can really be beneficial for your business. The Open Forum website has identified several situations that should warn you against an affirmative nod.
1. The opportunity will not get you to your goal. If you are for planning with clearly defined and measurable goals, you are able to distinguish achievable opportunities from mirages. Whenever you find yourself facing a "unique" opportunity, take care that it will not affect your original plans. Your partner's agenda may be completely different from yours, even though you have been long-term partners. Better say no.
2. You have a mess at home. Imagine being able to exhibit at a prestigious fair. It is a great opportunity, but only for those who have "cleaned up at home." If you are constantly fighting with suppliers, have distribution problems or your customers do not pay on time, reject it with thanks.
3. The opportunity drains your resources. It is almost certain that every opportunity costs a lot in terms of effort and resources. However, if it drains valuable resources from existing projects and programs, it is necessary to think about it. Resources are limited, just as economic theory teaches us, and therefore their allocation has to be considered carefully.
4. You take up with the wrong people. Relations between the partners never work 50/50; one always carries a heavier burden of responsibility. An agreement is important. If the partner commits financially or promises other assistance on the project and you gradually find that he give you hardly ay help, pay attention. Before you embark on a joint project, make sure that your expectations and requirements of your partners are clear. A business partnership is like a marriage and you do not want a painful divorce, do you?
5. The opportunity is in conflict with your company's offer. Do you remember those children's picture puzzles, where the object was to find objects that do not belong in the picture? Can you recognize what rubbish does not fit into the company picture?
Learn to use these simple rules to assess the suitability of opportunities for your business:
- Be selective and just say no, if you have any doubts.
- Do not overestimate your resources.
- Bet only when you can afford to lose.
- Identify the need for all the resources you need to assign before the project starts. If any data is missing, rather say no.
- If you commit to something, give it your all. Selecting one option that we act on means rejecting a hundred others. It is worth the effort, right?
-bn-