When to Say No Thanks to New Opportunities

No Thank you

A reader wrote:

Hi Dane. I just posted up a new article that I thought might be of interest to you, given your site’s focus on new business opportunities. It highlights a few pitfalls that business owners commonly face when they start branching out.

What kinds of opportunities should you turn down? Good question. The article, by Gateway CFO Solutions has some answers. They include:

  • The one that leads you too far astray from your core business.
  • The one for which you haven’t accurately assessed the entire potential financial downside.
  • The large new customer that will represent a huge concentration for your business.

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