Is It a Good Opportunity… or Just Another Distraction?

“Can I run something past you?” I hear this a lot. I've been asked to collaborate on this... Someone's approached me about... I've had an idea...
There's an opportunity to...

And usually, the question that follows is: “Do you think I should do it?” and it’s a really good question because when you're ambitious, full of ideas and building a successful business, opportunities tend to create more opportunities which is brilliant… until it isn't.

Because suddenly you've got five exciting things you could do, three things you've already committed to, the day-to-day business still needs to run and that great opportunity you said yes to has become another thing taking up space in your head. So sometimes the question isn't: “Is this a good opportunity?” It's “Is this a good opportunity for this business, at this point, given what we're trying to achieve?”

Does it take you where you actually want to go?

Something can be a genuinely brilliant opportunity and still not be right for you. Ask yourself these questions…. Does it support where you want the business to go over the next 6–12 months? Does it move forward something you've already decided matters? Does it open a door you actually want to walk through? Or does it pull your attention in a completely different direction because it sounds exciting right now? Ask yourself: “What are we actually trying to achieve?” because once you’re clear on that, it becomes much easier to judge whether something deserves a yes.

What will you have to say no to?

Every “yes” costs something whether its money, time, energy, attention or headspace and those things are finite. So if you say yes to the collaboration, launch, event, new service, partnership or project... what gets less of you as a result? Maybe you're technically capable of fitting it in but I don't think “Can we squeeze it in?” is always a useful measure of whether you should do something. I'd rather ask whether it deserves the space it will take.

Are you excited by it or flattered by being asked?

Ooft 😂 this is one I'm very aware of myself too. When you’re approached it feels good, someone wants your expertise, someone thinks you'd be perfect for something. You've been invited into a room you wanted to be in and of course that feels nice but take the flattery away for a minute. Do you actually want to do it? Would you have gone looking for this opportunity yourself? Would it still feel exciting if nobody else knew you were doing it? Would you feel envious if someone else was doing it? Sometimes the answer will still be a massive YES which is great but it's worth knowing what you're actually saying yes to.

Is it a hard no or just a not yet?

I think we sometimes treat business decisions as if there are only two possible answers: YES or NO. But there’s also: Not now. An idea can be good and the timing can be wrong. You can keep the relationship warm; put the idea somewhere safe; revisit it next quarter; finish what you've already started first. You don't have to pursue every good idea immediately just because you've had it and you don't need to turn something down forever just because it doesn't fit right now. Sometimes “not yet” is the best answer you can give.

What's the actual upside?

This sounds obvious, but I think it's worth getting specific. What are you hoping this opportunity will give you? Revenue? Visibility? Access to a new audience? A valuable relationship? Experience? Credibility? A route into a new market? Because “it could be good for the business” isn't really enough. What does good mean? And is the likely return worth what you're going to put into it? Not everything has to deliver an immediate financial return - far from it but you need to understand why you're doing it.

And what's the hidden cost?

This is the bit that's easy to underestimate. A project might only require a couple of hours on paper but then there are the emails, the decisions, the meetings. the preparation, the follow-ups. The 11pm thought of “Oh God, I haven't done that thing...” Headspace is a business resource too. If you're already carrying a lot, adding something else doesn't just take up diary space, it can take attention away from everything else you're trying to do. That's why one of the things you'll often hear me say is: “Let's separate what's urgent from what actually matters.”

Does it take you forwards or back towards something you've outgrown?

This is so important when your business is changing. Maybe you're trying to step away from a certain type of work, maybe you want to move into a more strategic role, perhaps you're trying to reduce the amount of delivery that depends personally on you. Then an opportunity arrives - it's good money. You know you can do it and it would be really easy to say yes! But does saying yes support the business you're trying to build? or does it pull you straight back into the version you're trying to move beyond? Often the easiest opportunities to accept are the ones we're already very good at but that doesn't necessarily make them the right ones.

What happens to everything you've already decided matters?

This might be the biggest one. Businesses rarely struggle because there aren't enough ideas, quite often, there are too many. A new opportunity arrives and suddenly it's more interesting than the project that's halfway through so the team pivots. Then another idea comes along, and another, and another. Six months later, there's a trail of really good things that were started but never quite finished so I wouldn’t say “That's a bad idea”, I’d say “Yes, I like it. But what happens to the things we've already said are important?” The most valuable thing you can do isn't start something else but finish what you've already decided matters.

Sometimes you don't need someone to give you the answer

I don't think my job is to sit opposite a business owner and tell them what they should do - it's their business. Deep down, they already know the answer anyway. What can be really valuable is having someone outside your own head who understands what you're trying to achieve. Someone who can challenge the excitement, ask the awkward question, spot the trade-offs, do the research if we need more information, join the dots and help you make the decision with a bit more clarity. Sometimes I'll agree with you and sometimes I'll say: “I think that's a brilliant opportunity” and sometimes I'll ask: “Is it though...?” 😂 Not because I'm there to put the brakes on ambition but I want your time, energy and attention going towards the things that have the best chance of taking you where you actually want to go. Because the ability to create opportunities is a brilliant thing and knowing which ones deserve your yes is even better.