Knowing your true value and when to say “No”
When you’re starting out, you’re excited! Excited that you’ve been invited to the table and that people are wanting to talk to you. You want to say yes to everything just so you can prove your worth. I know this because it’s exactly what I’m going through right now.
The business is new and we’ve been attending meetings left and right with the intention of getting our name out there and hopefully start getting some paid work through the door.
I’m a fan and firm believer in Richard Brandon’s famous quote:
If someone offers you an amazing opportunity and you’re not sure you can do it, say yes – then learn how to do it later.
But you need to know when an opportunity is NOT amazing.
I’ve just gone through a situation where an opportunity I’ve been discussing with a client for about a month has gone from being a $50,000 job to a $5,000 job. I should clarify that the circumstances were out of the clients control, but the opportunity is very different to what was initially offered. The goal posts have changed, yet I was still wanting to say “yes” even though we wouldn’t make much of a profit. We also would’ve taken on a lot of stress to complete the task within the budget and timeframe allocated.
The trick is truly knowing what you and/or your company are worth. Stand by that. You can still say “no” and maintain a great relationship. Offer some free advice or recommend them to someone who may be able to serve their needs better. Honesty is a valuable asset that can help build and strengthen your relationships.
Always remember the importance of respect, honesty, trust and loyalty. That is how you bring true value to your relationships. As Gary Vaynerchuck says:
The single best way to win is to give 51% of the relationship.
To help send this message home I’ll leave you with a stunner of a quote from Warren Buffet:
Honesty is an expensive gift. Do not expect it from cheap people.
So yeah…don’t be cheap.