RULE 93: Know When/How To Say No – And Yes

Real Estate Expert & CEO, Jonshland Suites, Lagos, Lady Alake Oshun

Now you’ve made
some money there will be those who see you as:
• A target –
easy pickings
• Owing them
something – after all, they have known you for years…
• Worth taking a
chance on – you never know
• A genuine
source of low-interest loan or free gifts – and so much easier than preparing a
proper business plan and going to the bank.

I’m not saying
you will always get the outstretched hand. In fact some requests will be
cloaked in the most attractive brochures of potential investments. So how do
you know when to say yes and when to say no? And how to say either?
Saying no to
friends and family is easy, in a sense. Right from day one you make it a policy
– and a very easily identifiable one – not to lend to friends and family (see
Rule 90).
You never do, so they learn not to ask.
Saying no to
business acquaintances is also easy. Just ask them to refer everything to your
accountant or business adviser. Say you never make a decision without their
input and you can’t proceed until they have studied everything in close detail.
That puts off the ones who are just arm-round-the-shoulder, trying it on. The
others might be worth considering if they have genuine plans, in which case it
might be worth having a look.
“Saying no to business acquaintances is also easy.
Just ask them to refer everything to your accountant or business adviser. Say
you never make a decision without their input and you can’t proceed until they
have studied everything in close detail”

Now, when to
say yes or no? Say no if:
• Your gut
instinct says to say no
• They haven’t
done any work on their presentation – if they are lazy at ground zero it
strikes me they’ll be lazy right through
• You have no
connection with them – always say no to strangers basically.
To say yes is
fine. To say no is fine. It’s your money and you can do with it what you want.
You have to:
• Let go of any
guilt – this is business.
• Make sure you
understand exactly what is being asked for – that’s why calling in advisers is
always a good idea.
• Keep a
closed-door policy to stop yourself being overwhelmed by requests – make it
hard for them to get to you.
• Avoid saying
yes because you think it will make people happy
• They are
emotionally blackmailing you and thus get themselves crossed off the list
automatically and without guilt.
• Always be very
clear when you are saying ‘no’. No ‘maybes’ or ‘we’ll see’ or ‘I’ll have to
sleep on that one’. Say no and put everyone out of their misery – including
you.
• Don’t allow
yourself to be badgered. Be assertive.
• Stop them in their tracks – a simple ‘I’d rather
you didn’t ask me’ before they’ve even got started.
From The Book; The Rules of Wealth by
Richard Templar
(Read Rule
94
of Rule of Wealth tomorrow on Asabeafrika)

Read-to-Wealth Series








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