The Hidden Cost of Saying ‘Yes’ to Every Opportunity

It may be cliché, but that doesn’t make it any less true: Sometimes less is more. It’s exciting when your company starts to see a steady influx of interest, and it’s also tempting to say yes to every opportunity that comes along. After all, who knows how long the boom will last?

I’d like to propose a different strategy, one that may seem counterintuitive, but in the long run, will pay higher dividends. Instead of onboarding every new client who contacts you, maybe it’s better to be selective.

I have nothing against volume-based growth. However, for service businesses, it may not work out as intended, causing problems down the line, such as burnout, dissatisfied team members, high attrition rates and lost revenue. That’s why I advocate prioritizing quality over quantity when considering your business’s long-term growth strategy.

Related: The Most Successful Entrepreneurs Know How to Say ‘No.’ Here’s the One Exercise You Need to Learn This Skill.

The meaning of growth

When building your business, think of growth as meaning better as well as more. For some small businesses, aiming for higher quality rather than higher volume can provide greater control and stability.

As business owners, we’ve all dealt with a client who wasn’t the right fit for our company. It’s just part of doing business. We learn that some client relationships don’t work out the way we hope they will, and the client ends up leaving. If this is a frequent issue for your company, I recommend considering a more selective approach.

I say this to my clients, and I practice this at my company: To retain more clients, focus on attracting the right ones from the start. Let’s not throw everything at the wall and see what sticks. Instead, we can drill down until we define the most appropriate client persona for the business. Then, we can tailor a marketing strategy to attract that type of client.

In my experience, this gives the dental practices I work with a better foundation for building a loyal patient base. It also means that their efforts are more meaningful, and client interactions are more satisfying.

When you work with a client who’s on your wavelength, it feels like a partnership right away. Collaboration occurs naturally. If a problem arises, it’s usually resolved quickly, without damaging the relationship. The client is more willing to listen to your ideas and follow your recommendations. And, they’ll work for you.

Not only will the client contribute to the relationship by putting in extra effort and investing more, but they will also become a walking, talking billboard for your business. A quality client is normally in touch with other professionals who would benefit from your services, and since they know how you do business, they inherently understand who would be a good fit and who would not.

Related: 7 Ways Quality Boosts Business That Quantity Can’t Match

The price of always saying yes

Volume isn’t a bad strategy, but it may not be the right approach if your business is relationship-based. While there’s no such thing as the perfect relationship, and there may be the occasional bump in the road, most of your client interactions should be productive and pleasant. If the opposite occurs, the client may not be the best fit for your business.

It’s impossible to foster and nurture a lasting relationship with a client if you’re putting out fires, dealing with unhappy team members, apologizing for failed campaigns, handling complaints or refunding fees. Undoubtedly, the consequences of having clients who aren’t a good fit will take a financial toll on your business.

However, it’s not just the lost revenue from the clients leaving that you have to consider. It’s also the time spent onboarding that client, planning and implementing campaigns for them, and likely, redoing work because it didn’t meet their expectations.

Then there’s the matter of the team members who are involved with those clients. Your team often bears the brunt of complaints, which can lower morale and create stress among your team. No one wants their employees to be unhappy at work. If they are dealing with multiple complaining clients and few satisfied ones, you may have trouble keeping your people. With high staff and client turnover, it goes without saying that the business will suffer.

Related: In Order for Your Business to Grow, You Need to Turn Down Customers

Choose wisely

A discerning client selection process will reduce the likelihood of clients leaving unsatisfied and create a more consistent workplace experience for your employees. Satisfied clients and employees are good for business. They write positive reviews and testimonials, generate referrals and remain loyal.

Focusing on alignment of values and ensuring a mutual fit creates a sense of exclusivity, which can also be good for business. Clients want to feel like they’re part of an elite few and appreciate having your attention when they need it.

My advice is don’t be afraid to turn down a client if you believe they aren’t a good fit. The potential revenue is not likely to justify the stress and extra work you will endure trying to make them happy. Being selective about which clients you accept is a smart way to preserve your integrity and ensure that your passion for your business remains strong.

It may be cliché, but that doesn’t make it any less true: Sometimes less is more. It’s exciting when your company starts to see a steady influx of interest, and it’s also tempting to say yes to every opportunity that comes along. After all, who knows how long the boom will last?

I’d like to propose a different strategy, one that may seem counterintuitive, but in the long run, will pay higher dividends. Instead of onboarding every new client who contacts you, maybe it’s better to be selective.