In an industry like CPG where so much is happening all at once, it's crucial to recognize that every "No" makes room for a more significant "Yes."
Knowing when to say “No” is a key lesson founders and entrepreneurs are better off learning sooner in their journey than later. So let me offer a shortcut based on my experience working with our brand clients and as a former brand founder myself…
Here are some examples in the CPG retail world of what to say “No” to and what, instead, you should say “Yes” to. Remember, a purposeful NO can mean a game-changing YES down the line!
- Say NO to unfavorable trade deals like OIs or MCBs.
Instead, say YES to Scans. Choose contracts that optimize profits and sustain growth. - Say NO to invalid deductions.
Instead, say YES to better deduction management systems to prevent those deductions in the first place. - Say NO to hyper-growth, as alluring as it can be, if you can't support the customer.
Instead, say YES to organic, bootstrapped growth and profitability. - Say NO to bad term sheets that strip you of control.
Instead, say YES to terms that empower you to steer your Brand's direction. - Lastly, say NO to unsupported programs – don’t just settle for TPRs.
Instead, say YES to learning about your customers through human interaction and demos.
And now, for ALL entrepreneurs out there – not just those in CPG – let's keep that “NO” momentum going and extend the same philosophy:
- Say NO to clients who drain your resources.
Instead, say YES to strategic partnerships that foster mutual growth. - Say NO to overworking and burnout.
Instead, say YES to work-life balance. Remember, a healthy team is a productive team. - Say NO to the myth of overnight success.
Instead, say YES to sustainable business models that provide long-term stability and growth. - Say NO to short-term gains at the expense of your Brand's reputation.
Instead, say YES to ethical practices that will enhance your Brand's value in the long run. - Lastly, say NO to being everything to everyone.
Instead, say YES to niche markets and unique selling propositions that differentiate you from the competition.
Well, that was fun, wasn’t it? Once you get the hang of saying NO with a purpose, it feels good. Here's to more purposeful decisions in your entrepreneurial journey. 💪🚀 What have you said NO to in your business? Leave a comment below…
