Episode#141: The Power of NO - Joe Calloway (Entrepreneur, Author)

Are you a victim of squirrel syndrome? Based on some fairly unscientific research, about 2 in 3 entrepreneurs are burdened by this affliction. The biggest symptoms include being attracted by every "shiny" thing that comes along, coupled with the inability to say no. But is this hurting your business? Joe Calloway, author, consultant and Executive in Residence at Belmont University's Center for Entrepreneurship, argues that it is. Having worked extensively with organizations of all sizes and growth cycles, Joe credits the success of many entrepreneurs to one simple adage: "Say no to almost everything." Inspired by Warren Buffet, this idea is what separates normal successful people from very successful people, Joe believes. At the beginning of his career, Joe struggled with saying "no" and suffered the consequences. After adopting this concept as his mantra, he began to say "no" more often and started to really hone in on the things he was saying "yes" to. Another side effect of squirrel syndrome is becoming frozen due to a lack of tunnel vision on the ultimate purpose. Having worked with entrepreneurs for years, Joe has witnessed organizations struggle with this repeatedly. "More often than not, it's better to make bad decisions than to be frozen. Entrepreneurs will always learn from their mistakes, but they will learn nothing from standing still. As opposed to being frozen, mistakes help you learn your strengths," he adds. He also suggests that entrepreneurs measures what happens after these decisions. In addition to learning how to say "no," it's important for entrepreneurs to leave room for the "yes." Joe advises that entrepreneurs should learn how to prioritize their "yes" based on their brand values. "Entrepreneurs and companies should learn to do three or four things extremely well, and with great consistency. It's all about balance," he advises. As leaders, entrepreneurs need to become skilled at saying "yes" to the right things at the right time. "Company owners must remain consistent about the things they say 'yes' to," he says, "Consistency coupled with innovation is how leaders become great." He also advises that company owners align their entire team on their "yes"; that is, a single vision which encompasses the one thing every team member will always say "yes" to. Refusing to say "no" to things makes it impossible to simplify your purpose, cut out the noise and move forward. What are some of the things you will begin to say "no" to? Can you identify three things you'll always say yes to? Let us know in the comments below. Check out this episode!