As life gets busier, there’s no shortage of things that can take up your time, energy, and resources. There’s also no shortage of people telling you to say no, from how to say no effectively to dozens of different ways of saying no. Few, however, address how to answer this fundamental question:
How do you know when to say no?
Let’s look at 3 basic factors that an opportunity presents:
1. Value. Is the opportunity valuable? Does it contribute to your overall personal or professional goals, either as an individual or an organization? Some opportunities may seem awesome but won’t actually contribute to your end goals.
2. Scarcity. How often does the opportunity or one like it come by? For example, authors submit review copies of their books to me on such a regular basis that the review copies now act as furniture. The opportunity there is not scarce. Having lunch with the President of the United States, however, would be a highly rare opportunity.
3. Commitment. How much commitment does the opportunity require? The reason there are piles of review copies of books in my office that have not been reviewed is that reading a book is a fairly serious time commitment if the review is to be any good, so I haven’t done it. Reading someone’s blog post or looking at their business plan can be tremendously resource-consuming. Writing an endorsement on LinkedIn can be relatively quick. Retweeting something on Twitter requires nearly no resource investment.
Take the time to actually score each opportunity you’re trying to evaluate. Award an opportunity up to 10 points for each category above, then set yourself a threshold for what you will and won’t accept for opportunities. Maybe a score of 20 would be your minimum. For example:
John Smith wants me to retweet his blog post about fried Twinkies.
- V: 0. No value to what I aim to accomplish.
- S: 0. Retweet requests from John are nearly daily. He’s kind of a jerk that way.
- C: 10. Easy and fast.
Verdict: 10/30. Decline.
The President of the United States wants to have lunch and discuss social media.
- V: 10. I do a lot of work in SM, so having lunch with the President might be useful to gain insight into his views.
- S: 10. I rarely get lunch requests from heads of state.
- C: 3. Going through the security clearance process and hauling it down to DC is a pain in the butt.
Verdict: 23/30. Accept.
Do you need this level of measurement in order to judge whether an opportunity is worth your time? Maybe. Certainly if you work with others, this opportunity judgement framework is useful for them to communicate with you an opportunity’s value in a very compact, tight way. Likewise, if you are responsible for passing along opportunities to other people, you might adopt this framework to communicate to them the value of something that’s crossed your desk.
Try it out and let me know how well it works for you.
You might also enjoy:
- How to Set Your Public Speaking Fee
- Best Practices for Public Speaking Pages
- How To Set Your Consulting Billing Rates and Fees
Want to read more like this from Christopher Penn? Get updates here:
Get your copy of AI For Marketers