Like this article? PLEASE +1 it! Evan Signature
Evan Carmichael Top Header
Share for a Cause









When to say no to a deal. If you want grow say no!

Written by: Evan Money

Article Overview: Wait, before you say, "I did this really small job and it lead to a bigger one, so I never turn down a deal." If you want to think that way, it's OK, but if you want to get to the next level, you need to think differently. I have a very successful client in Hollywood that I work with, he hired me to help him make the jump to the elite level of 8 figure deals. I told him the same thing I'm telling you, say, "No to 80%." He was so challenged by this until I explained to him that the deals he was getting now were the ones turned down by the elite level 8 figure guys. If you want 8 figure deals you have think like an 8 figure guy and NOT take 6 figure deals.

Free Download - Strive for Harmony, not Balance! By Evan Money
Name: Email:

When to say no to a deal. If you want grow say no!

As the #1 Online Life Coach, the biggest question I'm asked by the successful entrepreneurs I work with is "How do I get to the next level?" My answer is simple: say, "No" to 80% of your deals. We have all heard of the "80/20 Rule", but 98% of all entrepreneurs do not follow it. They are deathly afraid of turning down business, so they take every job they can and wonder why they don't have the time to do the really important things, like thinking. I'm getting ahead of myself, so let's go back to the 80/20 Rule: 80% of your profit comes from 20% of your customers. That is a fact; run the numbers if you don't believe me. I didn't believe it until I did it in one my businesses that I had owned for over 15 years. Once I saw it in black in white, I couldn't believe it, 80% of my customers were wasting my time and making me very little profit. Then the hard part came, changing my business model. I fell into the same trap most entrepreneurs do by listening to broke people, you know things like "Take the business while you can" or "Don't leave money on the table." The billionaire business owners I'm able to associate with now never talk this way.

Wait, before you say, "I did this really small job and it lead to a bigger one, so I never turn down a deal." If you want to think that way, it's OK, but if you want to get to the next level, you need to think differently. I have a very successful client in Hollywood that I work with, he hired me to help him make the jump to the elite level of 8 figure deals. I told him the same thing I'm telling you, say, "No to 80%." He was so challenged by this until I explained to him that the deals he was getting now were the ones turned down by the elite level 8 figure guys. If you want 8 figure deals you have think like an 8 figure guy and NOT take 6 figure deals.

Saying no to the 80% also gives you time! John Maxwell the famous leadership author talks about his "thinking chair," he only sits there when he thinks. When was the last time you sat undisturbed for 1 hour thinking? A 1/2 hour? 10 minutes? More than likely you don't have time to think because you're spending it all working with the 80% that only give you 20% of your profit. Time is something that takes getting used to but the pay off is worth any discomfort. I tell most of clients to find a park or grassy area or even get on the roof of their businesses. I tell them to get away and just think. Did you ever notice that you always get great ideas in the shower, why is that? Because your relaxed and your mind is clear. You can accomplish the same thing out of the shower once you make a habit of thinking.However you need time to do this.

When you were young and you outgrew your clothes what did your parents do? They gave them away right? Do the same thing with your customers as your business grows, give them away. You can keep them if you want and stay right where you are, the choice is yours.

Related Articles
  The Dreaded "To Do" List
  Business Financing Does Not Have To Be Frustrating
  Twelve Strategic "Grow Goals" To Grow Your Business According To Your Strategic Thinking Business Coach
  Business development
  Losing The Deal - Yeah, It Does Happen To All Sales Professionals too!

Home > Business-Coach > Evan Money > When to say no to a deal If you want grow say no
Article Tags: 1 online coach, double your income, dream, evan, evan money, get promoted, getting promoted, life coach, life coaching, lifecoach5com, money, online coach, online life coach, online life coaching, recession proof, recession proof your income, success, success coach, Take Action Now, take action now

About the Author: Evan Money
RSS for Evan's articles - Visit Evan's website

Evan Money is the #1 Online Life Coach and founder of www.lifecoach5.com He is the author of the hit book Take Action Now: How to live your dreams in less than 3 weeks! As a Global Entrepreneur and Philanthropist Evan is a sought after speaker around the world. Evan personally coaches select entrepreneurs, elite athletes and celebrities. He and his family reside in majestic Rancho Palos Verdes, CA minutes from the new Trump national golf course. Evan and his bride have enjoyed a dynamic marriage for over 12 years and remarry in a different state or country every year. Evan owns and founded a multi-million dollar international extreme sports enterprise that he started with no investors or outside capitol. Evan became a Prime time sports talk radio personality in Los Angeles with no broadcasting experience or schooling. As a former model and body builder Evan has spent 17 years studying health and nutrition. Unlike overweight celebrities selling diet solutions, Evan lives his beliefs with a body fat at 8%. Contact: evan@evanmoney.com 1-877-WOW-EVAN

Click here to visit Evan's website
Dashed Line

More from Evan Money
Dont wait for a BAIL OUT Bail yourself out
Unleash the entrepreneur within
CommunicationSex and Money
When to say no to a deal If you want grow say no
Can you really help your employees get promoted


Related Forum Posts
Persistence gives live to small business. Persistence gives live to small business. - While I was reading about the 10th year anniversary of google, I counted back 10 years and what I see was persistent. Every small business can grow big if we will be persistent. Persistent actually brings consistence. There is no business that cannot grow big if the owner will not be too haste to succeed. Hastiness has always been the bane of colapsed small business. Whatever you do as antergreneur keep at it and be innovative about it, you will soon be celebrating growth. To me, there is no business that cannot grow be if persistence is employed.
Re: Persistence gives live to small business. Re: Persistence gives live to small business. - [quote="topeyinka":160scfau]While I was reading about the 10th year anniversary of google, I counted back 10 years and what I see was persistent. Every small business can grow big if we will be persistent. Persistent actually brings consistence. There is no business that cannot grow big if the owner will not be too haste to succeed. Hastiness has always been the bane of colapsed small business. Whatever you do as antergreneur keep at it and be innovative about it, you will soon be celebrating growth. To me, there is no business that cannot grow be if persistence is employed.[/quote:160scfau] Thanks for the contributions am real informed better now!
Re: BEFORE YOU DO! Re: BEFORE YOU DO! - One of the things I learnt about the book "BEFORE YOU DO" is that for every biz to succeed, relationship must be solid. I have to make decision on what type of relationship do I want to keep to make my biz and life move forward. The author explained that everything about our lives deal with relationship. And whatever way we handle our relationship will determine how we will grow in our entrepreneurship and life. This book is worth reading for everyone. cheers!
Re: Seeking advice on working procedure of Convenience Store Re: Seeking advice on working procedure of Convenience Store - Storeowners often have national and regional contracts with various suppliers. They always buy in bulk and enjoy the principle of getting the better deal as you buy more and more that too in quantity. For E.g. a small storeowner orders 100 cases of coke and fixes the deal at $5 per case but a big storeowner orders 4500 cases and fixes the deal at $3.5 per case. Here the difference lies and because of the big storeowner manages to sell the commodity at a lower price till having his share of profit.
Growing ... or not Growing ... or not - I've seen this done successful and I've seen disastrous results. From the expansions I've seen, a lot depends on the business owner and/or manager. Some people can run a business if it stays on an even keel, but many are simply not qualified to handle a business "explosion". Its wonderful to have the opportunity to grow your business in a hurry, but if the people or person in charge can't handle the growth, it can be really ugly and can cause huge problems within the business. Having the right people in place to deal with the growth is a key to making it work for you and not against you. Shri


Recommended Article for You close

  The Dreaded "To Do" List

Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.



Featured Article


Bottom Footer
Share for a Cause












Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Name:
Email:
Popular Articles

Civility in the Workplace---Is it Decreasing?

Adapting to Technology and the Internet

10 Reasons Your SBA Loan May Be Declined

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.