Knowing When to Say No

When the Red Flags Have Nothing To Do With the Business

I’ve never had trouble getting excited about opportunities. If anything, that’s my weakness. I’m naturally optimistic. Someone brings an idea to the table and my brain jumps straight to what’s possible, not what’s missing. But at Formula 50, especially now that we’re stepping into more early-stage investment conversations, I’ve had to sharpen the muscle I’m worst at: saying no.

The truth is, the business itself rarely scares me off. It’s the people. You start asking questions and you get that small, nagging feeling — something isn’t adding up. Maybe they can’t clearly explain their plan. Maybe their responses lack diligence. Maybe they just don’t know their numbers as well as they think they do. That’s usually the red flag. Personality, professionalism, and ownership tell you more than any spreadsheet ever will.

Why the Best “Yes” Starts With a Few Good “No’s”

On the surface, everything can look exciting. That’s the trap. So instead of looking at the shine, I pay attention to that 20% of uncertainty that hangs around after an initial conversation. If it sticks with me, I listen to it. Because the cost of saying yes to the wrong thing is always higher than the regret of saying no.

What I Lean On When Things Get Loud

And when stress ramps up, which it has this year between launching Formula 50 and everything else, rely on something simple most people wouldn’t expect: motorsports. Sometimes it’s riding. Sometimes it’s watching a race. Sometimes it’s planning out the next car, which in my case happens to be a 600-horsepower machine that’s going to be equal parts fun and terrifying. Just thinking about it gives me a break from the grind.

Stress and opportunity actually have a lot in common. They both show you who you are when things get loud.

At Formula 50, our take is straightforward:

We want to partner with people who are serious, prepared, and willing to grow. We’re not passive money. We’re not trying to control everything either. We just want to bring real experience to the table.

And the more I practice saying no, the better the yeses get.