Choosing the right things to say no to Jun 24
9 comments Latest by Mark Holton
“I’ve made much more money by choosing the right things to say no to than by choosing things to say yes to. I measure it by the money I haven’t lost and the quality I haven’t sacrificed.”
-Danny Meyer of the Union Square Hospitality Group
Great quote. From the book Small Giants: Companies That Choose to Be Great Instead of Big. More about the book:
It’s a widely accepted axiom of business that great companies grow their revenues and profits year after year. Yet quietly, under the radar, some entrepreneurs have rejected the pressure of endless growth to focus on more satisfying business goals. Goals like being great at what they do . . . creating a great place to work . . . providing great customer service . . . making great contributions to their communities . . . and finding great ways to lead their lives.
In Small Giants, veteran journalist Bo Burlingham takes us deep inside fourteen remarkable privately held companies, in widely varying industries across the country, that have chosen to march to their own drummer. He searches for the magic ingredients that give these companies their unique “mojo” and the lessons we can learn from them.
Related: Danny Meyer: Hospitality is king [SvN]
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9 comments so far
Alex 24 Jun 08
I’m reminded of a piece of advice you guys have in your book, Getting Real, that when you’re given a request for a new feature in your software, your first instinct should be to politely ignore it – the really necessary features will be requested again and again. I’ve taken that advice to heart when possible, and it’s served me well: sometimes even the user who made the original request later decides that it wasn’t that important.
Edgardo 24 Jun 08
Benjy 24 Jun 08
I like that Flay has standards like that… it pained me to see Rick Bayless shilling for BK. And that guy from the Diners, Drive-Ins and Dives show hawking TGI Friday’s—which is the antithesis of what his show promotes? Makes me wonder how long before his show featured an Old Timer from Chili’s on his show…
Matt Radel 24 Jun 08
Sounds like a great read. I might have to check that out.
Grant 24 Jun 08
Great quote – and a philosophy that I bet has allowed him to enjoy his business more in addition to making more money.
Dan 24 Jun 08
Danny Meyer’s most recent book ‘Setting the Table’ is awesome! Changed a lot of my perspectives on how to run a great business… Very highly recommended.
What’s ironic is that if you focus more on customer goals, I think you’ll have a much better momentum and real growth in revenue (if that’s what you’re looking for). Might take a little longer, but will be much more sustainable and easier to build off of. Instead of starting from scratch on every step.
Jim Kring 25 Jun 08
If I recall correctly, this is a key point in Collins’ Good to Great. Companies go from good to great, not by figuring out what to do, but figuring out what to stop doing.
john 25 Jun 08
I have said no to adult sites based on principle even thought they pay 4 or 5 times normal.
Mark Holton 26 Jun 08
...opportunity costs… have heard Jobs in an interview say the same thing. ...thanks for the reference, going to have to check out that book.
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