Tuesday, September 20, 2011

Saying no to new business!

With the UK economy showing no real signs of recovery, for many businesses it is a question of grabbing any new business opportunity in sight, just to keep one's head above water.   However this can be a very dangerous strategy and one that can potentially lead to unhappy customers and the downfall of the business.  


In my early years in business (fifteen years ago) I made the mistake of taking on a project where there was clearly a mismatch between mine and the client's expectations of what we could deliver.  I was so keen for the business that I still took the project on, despite some misgivings.  The project took far longer than anticipated and required significant additional resource, the cost of which I had to bear.  However the client was never fully satisfied with the deliverable and we both walked away from the deal feeling hard done by.


This was however a salutary lesson for me and after a few more years experience in business I began to get a better feel for any potential new project and in particular of the people relationships,  client expectations and our business's ability to meet these and add value.


If you have concerns about any of these factors then it is vital that you explore them in more detail and only proceed with the project if you have satisfied your mind against each.  Often it may just be 'gut feel' that there is something not quite right -  my recommendation would be - go with your gut!







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