My investors keep asking for favours. How do I say no?
Dear Aunty B,
We work in the tourism sector. It’s a pretty hairy industry at the moment, but I’m having a bit of an extra problem – my investors keep putting their paws in the till.
Well, maybe that’s a bit of a stretch. But they do keep ringing me up and asking for favours. Can I get them a good deal on this trip? Is there a cheaper way to book this hotel? Can I get them an upgrade on this flight?
I smile and try to be as helpful as I can be – mainly they are family and friends – but frankly, I’ve got enough to bloody worry about.
Sorry, you’ve got to push back on this. I know they are investors, but you’ve got to subtly let them know that they are putting their own investment at risk here.
How does this sound?
In your next shareholders’ report (or whatever you send the investors regularly) tell them that you’ll be giving everyone a call mid-month for an update on the business and that if they have a travel-related query they can ask during that 10-minute phone call.
Otherwise, they make inquiries (and pay) like any other customer.
I reckon it’s a fair deal that sets ground rules for everyone.
Your Aunty B