Why saying “yes” is killing your business
Most of us are guilty of doing it. We say yes when we should say no. In fact, we do it 95% of the time.
As your insurance agency grows, you’ll face many yes or no decisions. It’s tempting to say yes, but “no” is often the better answer. Saying yes can bring stress and limit your chances. Saying no can give you freedom and help you reach your goals.
Here’s an example of some of the decisions you will have to make:
– Getting office space (or bigger office space)
– Office furniture
– Employee benefits
– Software
– Contracts
– Loans
– Staff
Each of these has immediate & long term costs and benefits. Some of these long-term costs just don’t make good business sense.
Think about it this way…
We say yes for a few reasons. Some are:
– It makes us feel good.
– Fear of missing out (FOMO).
– Fear of what others think.
– We’re making an emotional-based decision
Stats show 95% of decisions are based solely on emotion. That’s a big problem. Emotions should help guide your decisions but should not dictate them. Try to balance emotional thinking with logical reasoning.
Before you make you next decision, stop and ask yourself these questions:
Did you consider what others might think?
Are you saying yes because someone you respect said it’s good?
Did you buy because of a “limited time” deal?
Are you okay with giving your money to someone else, or would you rather keep it?
The hard truth is, most people make irrational business decisions because they don’t use logic. Knowing this, don’t you think you should pause before saying yes? There are other options, and an emotional “yes” might be a logical “no”.
Think about it:
– Do you really need that office space, or is working from home working just fine?
– Will that software really make a big enough difference to justify the cost, or will it just be more to manage?
– Do you need to hire an employee, or would outsourcing be the wiser decision?
Saying yes can hurt your success. Give yourself time to think. Weigh it out and make a rational decision. If the salesperson won’t wait, that’s okay, you probably don’t need it anyway. Someone else will say yes, since it’s 95% likely they will. It’s your business, and you have the right to say no. Use that power to your advantage and start saying “no” to decisions that don’t make logical sense for your business.