SEMA eNews Vol. 10, No. 23, June 7, 2007

WHEN TO PASS ON A BUSINESS OPPORTUNITY

What does is take to be successful in business? According to Larry Mersereau-small business consultant, speaker and author in the field of marketing and promotion-a look at successful people tells you that the ability to spot opportunity in these rapidly changing times is one major key. And it's not enough to just see opportunity, he says. It's not even enough to see it and act on it. It's at least equally important to be able to assess whether the opportunity you're looking at is right for you...before you act on it.

You must first have the capabilities necessary to pursue the opportunity. If you don't have the knowledge, facilities, equipment, personnel or capital necessary to go after an opportunity, you have to be smart enough to pass.

The most successful people are really good at spotting opportunity. But they're also really good at recognizing whether they're equipped to pursue them or not.

You also have to look at whether an opportunity fits into your "big picture." What are you trying to accomplish in the long term? You must have a specific kind of customer in mind, and you must have some purpose in serving them.

For example, Larry Mersereau helps business owners and sales professionals bring in more business, and he helps companies bring in more business by getting more from their resellers (business owners and sales professionals). He says that if an opportunity comes along that will help him do that more effectively, and he has the resources he needs to pursue the opportunity, he will be "all over it." If the opportunity pulls him in some other direction...away from his business mission or if he doesn't have everything he needs to do it right, he says that he will pass on it.

Do you have a "big picture?" If you don't, you need to step back and take a look at your business.

And don't forget the "big picture" of where your business or job fits with the rest of your life. Mersereau says that he won't pursue things that might conflict with his personal life, sense of ethics, relationships,  health or religious beliefs.

If your business decisions do not align with your life, you're not going to be very happy. Making money is a good thing. But it's not worth sacrificing what's really important to get it, Mersereau notes.

Source: Larry Mersereau (May 29, 2007). "What Does it Take? Bringing In More Business..."(electronic newsletter).