TOTW #14: SAY NO TO EXCITING PROJECTS
As an entrepreneur, it can be challenging to turn down new project opportunities, especially if they seem exciting and potentially profitable. I can definitely talk about that as I may have a new business idea every single day and people making suggestions about working together on a concept that they have or a product they trust. Believe me, it’s maybe one of the most frustrating parts of my business life, as I love building new ideas and seeing them grow. But I have to say NO. It can be about a photoshoot, about a conference or a collaboration, if it doesn’t fit with my strategy, I have to be strong and decline.
Saying “no” to new projects that don’t align with your goals or guidelines is a crucial step in staying focused and avoiding wasting time and money. And here just a few reasons why:
1.Time and resources are limited: As an entrepreneur, your time and resources are limited. If you take on a project that doesn’t align with your goals or guidelines, you’re likely to spend a significant amount of time and resources on something that won’t provide a return on investment. Saying “no” to these types of projects allows you to focus your time and resources on activities that will help you achieve your goals and grow your business.
2.Losing focus can be costly: Taking on a project that doesn’t fit with your business goals can definitely be costly. It can take you away from the activities that are most important for the growth of your business. Losing focus can result in missed opportunities, lost revenue, and wasted resources. By staying focused on your goals and guidelines, you can avoid these costly mistakes.
3.Maintain your brand image: Every project you take on can impact your brand image. If you take on a project that doesn’t align with your guidelines, it can have a negative impact on how your brand is perceived (as a photographer, it will mean for example accepting a collaboration photoshoot not aligned with my strategy).
To help determine if a project is worth taking on, ask yourself the following questions:
- Is it linked to my current project, vision and business? Yes / No
- Will it grow my network? Yes / No
- Will this project upgrade my credibility in my industry? Yes / No
- Do I know the cost, and can I afford it? Yes / No
- Do I honestly have the time for this project? Yes / No
- Do I see any good potential? Yes / No
- Do I trust the people involved 100%? Yes / No
- Is this project complementary to my business rather than competition? Yes / No
If you answered no to three or more of these questions, it may be wise to reconsider taking on the project. Remember, saying no to one project can open up opportunities for others that may be a better fit for you and your brand.
Let me know your thoughts!
Until next week,
Maddy
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