As leaders and CEOs, we often want to appease and take on every opportunity that comes our way. After all, you never know which opening might blossom into a new revenue stream or a game-changing partnership. However, in our quest to say yes, we lose sight of the power of focus.
A great strategy means saying no.
Myth 1: Saying yes opens more doors
Reality: Saying yes distracts from strategic focus
Many leaders believe that saying yes more often expands opportunities and increases the prospects of finding a breakthrough. However, consistently saying yes without strategic alignment pulls attention and resources in too many directions at once. Steve Jobs streamlined Apple’s product lines when he returned in 1997. Though seen as risky, saying no allowed Apple to channel creativity into its core – revolutionizing personal computing and consumer electronics. Imagine if Jobs didn't do that? Would have the iPhone or the iPod?
Myth 2: Diversifying reduces risk
Reality: Staying focused mitigates more risk
Conventional wisdom says placing small bets safeguards against market changes. But dividing focus across too many disparate opportunities can be the riskiest path. It’s tempting to want a finger in every pie, but diluted resources means accomplishing little. The most resilient companies identify their North Star – their fixed strategic vision guiding decisions. With that clarity, it becomes easier to say no to possibilities outside core priorities, regardless of potential upside.
Myth 3: Opportunity can’t be predicted
Reality: Aligning with strategy captures the best opportunities
We often chase openings in the spirit of “you never know.” But even seemingly “sure things” fail without discipline. Success comes from consistently navigating toward strategic goals, not reacting to chance offerings. In the early 2000s, Amazon was primarily known as an online bookstore, but founder Jeff Bezos was determined to transform Amazon into "the everything store." However, Bezos resisted pressure to diversify too quickly, knowing Amazon needed to be ruthlessly focused. When the dot-com bubble burst, Bezos doubled down on the core business - books, music, movies - let go of side projects, and ensured Amazon had the infrastructure for complex long-term growth. He said no to distractions, even highly profitable ones, if they didn't fit the strategy.
Saying no takes courage but gains focus necessary for sustainable growth. Resist chasing sparks and stay centered on strategic ambition. With a tightened alignment between priorities and pursuits, companies can fully tap into their potential while weathering external turbulence.