As a business owner, how do you know when to say ‘no’ to a project or a prospect? There are some common red flags to watch out for, and we’re discussing them on today’s podcast episode.
an example from my writing business
There’s nothing quite like a story or an example to help illustrate a point, and today’s topic is no exception.
By day, I run a marketing and writing freelance business and recently made the decision to step away from a project with a new prospect that seemed really promising.
project red flags
While I’m not providing any identifying details, there are some red flags that popped up with this prospect.
You probably have a completely different type of business than I do, but these signs will help you identify which projects or prospects you should say no to.
If you’re having some trouble deciding whether you should take on a project, take a look at the interaction you’ve had with the prospect so far.
Here’s a checklist for you:
- Does their process make sense and do they stick to what they say they are going to do?
- Are they asking for or expecting anything for free?
- Is their rate of compensation or pay low?
- Are they willing to negotiate?
trusting your no
It’s totally okay to turn down a project! You’re well within your rights, and even your duties, as a business owner.
If you choose to say no to working with a prospect or new client, just be tactful about it.