The Business Takeaway Podcast, Leadership & Business Advice
When to Say No to Work: Business Failure Lessons - Ep 37, David March
When should you turn down work your business needs? David March joins Ben Payne to share the business failure lessons he learnt from pricing under pressure, overtrading and eventually closing his own company. David has spent nearly 40 years in live entertainment, working across manufacturers, rental businesses and his own company. He now helps owner-led businesses through Buddy March. We talk about the business mistakes that can happen when revenue becomes the immediate priority, what happens when you move into work you don’t fully understand, and why owners need someone who can challenge their decisions. David also shares the moment he realised he had to close the doors, how that experience affected his appetite for risk, and why helping someone means more than saying “let me know if you need anything”. In this episode: The pricing decisions businesses make under pressure How to judge whether an opportunity really fits Why owners need someone who can challenge their thinking Overtrading and the closure of Projected Image Digital The effect of business failure on confidence and family life Being honest with clients and colleagues David’s Buddy Check and Clarity Brief approach The difference between being nice and being kind Timestamps 00:00 The moment David knew he had to close 00:35 Introducing David March 02:09 Nearly 40 years in live entertainment 05:06 American and European business cultures 06:46 Why some businesses survive a downturn 08:16 The danger of cutting prices 11:12 Building relationships before you need them 12:25 What practical support really looks like 13:49 Networking and learning to talk to customers 16:43 Developing the next generation of talent 18:44 Choosing the right business opportunities 20:24 Saying yes to the wrong work 22:33 The pressure of being the business owner 25:51 Taking a step back: the Buddy Check 28:08 Balancing price, service and relationships 30:07 CEG sponsor message 30:53 Supporting the podcast and listener review 31:34 Having honest conversations with customers 32:47 When should you walk away from a job? 34:58 Overtrading and the business David had to close 39:06 Accepting that the business couldn’t continue 40:51 Making peace with business failure 43:53 How failure changes your appetite for risk 45:17 Helping an owner face difficult decisions 47:24 Getting everything out of your head 48:06 What not to rush into when starting a business 49:39 Is more lead generation really the answer? 52:10 Why winning business is getting harder 56:10 The difference between being nice and being kind 57:08 David’s biggest Business Takeaway 58:42 Rapid-fire questions 1:01:51 Final thoughts and where to find David Guest links: Buddy March David March on LinkedIn Listen next: Sam Tamplin — How to Scale a Business to 100 Staff (Without Losing Control) : another live-events owner’s perspective on growth, financial discipline and difficult periods; Sam’s experience comes up in this conversation. Dave Coull — How to Build a Strong Business Culture That Actually Works : continue the discussion about honesty, trust and what leaders’ behaviour means for their people. More episodes and guest books Follow The Business Takeaway Podcast for a new conversation every Monday.
