When you grow, you will be tested with situations that will make you choose between what’s good for now and what’s good for you. Most people do not see the difference at all, and many of the ones who see it, don’t choose wisely.
When you are in a ‘head above water’ kind of situation, you do not have a lot of options — you always choose what’s good for now.
When that’s not the case, and you still prefer to choose what’s good for now over what’s good for you, some might say you are either greedy — thinking you need to have it all and have it now — or dumb enough to miss the big picture.
But I’d say both of them are right and both of them are wrong. The rights and wrongs will trade places based on a simple question.
Why are you in it?
Imagine you are running a startup. You are working with multiple clients, making good progress, and getting ready for the long haul.
Now, a huge client comes in, demands 100% of your team’s efforts, offers to 5x your revenue — and puts a condition that you stop working with the rest of your clients. What is going to be your decision?
If you choose to honour this new client’s proposal, you lose all the other clients that trusted you. If you choose to decline, the 5x revenue isn’t going to happen soon — it could take a few years to get there.
What will be your decision?
If your aim is to make some quick money, you will honour the client’s deal and move on, no matter the consequences later.
If you are in it for the long haul, you will say no. Because honouring the proposal raises a big red flag: what if this new client backs out after a year? You’ve already turned your back on the clients who trusted you. You can’t go back to them. You’ll have to start from scratch.
In any business, if more than 10% of your revenue comes from one particular client, you are in a danger zone. And when you’re planning for the long haul, confining yourself to a single client is never good for branding — and you will never be able to build the product or company you dreamt of.
Ask yourself this question the next time you are at the crossroads of a crucial decision, whether you run a company, work for one, or are just starting out.
Why are you in it?
Are you in it for the quick run, or for the long haul?