The High Cost of Saying Yes
- Tom Bronson
- 8 hours ago
- 6 min read
How the Wrong Deal Can Derail Your Business
In business, momentum often appears to be about saying "yes." However, while saying "yes" usually feels like progress, a well-intentioned yes can lead your business straight toward disaster. A new deal, a significant partner, a new sales channel—it all seems like traction. But as Rick Hopper, founder of ReadeREST and veteran of Shark Tank success, reminds us: saying yes to the wrong deal isn't growth—it's a slow form of suicide.
That's the powerful lesson behind Rick Hopper's journey—entrepreneur, inventor, and founder of ReadeREST. This magnetic eyeglass holder gained national attention after its appearance on Shark Tank. Rick's product solved a simple but annoying problem: where to put your reading glasses when they're not on your face. What started as a paperclip prototype turned into a viral hit, landing him a deal with Lori Greiner and a nine-year run on QVC. Eventually, major retailers, including Walmart, sold the product.
Sounds like a dream come true.
Not exactly.
The Walmart Warning
Following the Shark Tank buzz, Rick's business experienced a surge in growth. Orders came in faster than ever before. Then Walmart placed a million-dollar purchase order. The exposure and sales volume were thrilling—but soon, the honeymoon ended.
A year into the partnership, Walmart came back with a demand: lower your price.
Rick and his team were already working with tight margins, and this new requirement threatened not just profits—but the business model itself. "I hated the way I felt when I left that meeting," Rick recalls. "So I made a decision right then: I would make Walmart irrelevant to my business model."
It took nearly two years, but Rick rebuilt his distribution strategy to lower customer concentration. He diversified his sales channels so no single client—no matter how large—could hold that kind of power again.
Saying Yes Isn't Always Smart
It's a harsh truth that many business owners learn too late: every deal has a cost. And if the terms force you to compromise your margins, your values, or your vision, the deal might not be worth doing—no matter how big the name. Saying "yes" to Walmart initially seemed like a good idea. But staying "yes" after the economics shifted would've been devastating. Rick's story is a masterclass in reclaiming control before it's too late.
Rick doesn't mince words: "People say, 'Walmart killed my business.' I say, No—they didn't. You said yes to a deal that was bad for your business. That's not murder. That's suicide."
Rick's experience is a sobering reminder to business owners that no deal is worth compromising your principles, your margins, or your mission.
His story isn't about demonizing big business. He praises Walmart's systems and processes. It's about understanding that even great partnerships can become dangerous if they take your company out of balance.
From Exit to Buyback
In a surprising twist, Rick sold his company, only to repurchase it later for 8 cents on the dollar. The buyers, distracted and overwhelmed, had abandoned the very principles that made the company successful in the first place. In Rick's words:"If you abandon the principles that made a business great, the results can be devastating." But that devastation became Rick's opportunity. He didn't just regain his business—he reclaimed its soul.
The new owners, despite initial enthusiasm, made critical missteps. They cut corners, ignored the brand's core strengths, and ultimately lost the essence of what made ReadeREST successful. The business floundered under their care, and Rick stepped back in to revive it.
His ability to do so wasn't just luck. It was the result of protecting the fundamentals that built the business in the first place.
"If you abandon the principles that made your company great," Rick says, "you're inviting decline."
Final Thoughts
Entrepreneurs chase opportunities, it's in their DNA—but the most successful ones know when to say no. Protecting your business's value often requires walking away from deals that don't serve your long-term goals.
Rick Hopper's journey is full of hard-earned wisdom. Here are a few takeaways every business owner should remember:
Not every deal is a good deal. Evaluate long-term impact, not just short-term cash flow.
Customer concentration is a risk. If one client controls too much of your revenue, you lose leverage.
Protect your principles. Culture, process, quality, mission—don't trade them away, even for a premium. They're what made your business valuable in the first place.
Plan for the future—even if you sell. Rick plans to put repurchase terms into future agreements so he can buy the business back if it declines under new ownership.
Scrutinize Every "Yes." A big order or strategic partnership might look good on paper—but what does it cost you operationally, emotionally, and strategically?
Build Optionality. As Rick showed, if you ever do sell, build in mechanisms to repurchase it, or protect the brand you've built.
As Rick Hopper shows us, it's not the size of the deal that matters—it's the strength of the foundation you're standing on when you say "yes."
Feeling unsure where your deal stands?
Mastery Partners offers a Transition Readiness Assessment (TRA) that benchmarks your sales function—and your entire business—against the standards that matter most to buyers.
You don't have to wait until you're ready to sell to start building value. The earlier you start, the more options and leverage you'll have.
Reach out to Mastery Partners today to fortify the future of your business.
Want to Learn More? Check out the MBV Podcast!
In a recent two-part episode of the Maximize Business Value Podcast, Rick Hopper and Dave Casey discussed why saying "yes" can be harmful to the success of your business. Watch the links below for further insight.
Link to Episode 236: Part One
Link to Episode 237: Part Two
CONNECT WITH MASTERY PARTNERS TO LEARN MORE
ABOUT MASTERY PARTNERS:
Many businesses run well—but few are truly prepared for what's next. Whether it's growth, succession, or a future transition, getting your business ready takes intention and the right strategy.
That's where Mastery Partners comes in. We work alongside business owners to strengthen operations, maximize value, and build a business that creates freedom and options—now and in the future. With decades of real-world experience, we guide you step-by-step to transform your business into an asset that works for you.
Build a business that's valuable, scalable, and ready for whatever comes next. We're the guide who helps you turn your business into a real asset.
ABOUT DAVE CASEY:
Dave Casey is a seasoned business owner with deep expertise in all aspects of organizational behavior and a passion for helping entrepreneurs reap the full rewards of building their companies. He understands that a truly valuable business isn’t just profitable—it’s secure, scalable, and transferable. In addition to his work with Mastery Partners, Dave actively gives back to the entrepreneurial community through leadership roles with organizations like Business Navigators, Biz Owners Ed, and Liberty Ministry. Whether advising on strategic growth or mentoring the next generation of business leaders, Dave brings clarity, integrity, and decades of real-world experience to every interaction. His mission goes beyond exit planning—he’s committed to helping owners build lasting legacies.
ABOUT RICK HOPPER:
Rick Hopper is an American inventor and entrepreneur, best known as the founder of ReadeREST, a magnetic eyeglass holder. His journey to become a successful inventor gained national attention when he appeared on ABC’s Shark Tank in 2012. During his pitch, Hopper captivated the Sharks with his story and product, earning a deal with investor Lori Greiner.
Before Shark Tank, Rick had worked in various roles, including sales and manufacturing, eventually launching ReadeREST after creating a magnetic solution to keep his reading glasses secure. His innovative yet practical product struck a chord with consumers. ReadeREST quickly scaled from a grassroots invention to a multimillion-dollar brand, selling in major retailers like QVC, Walmart, and The Container Store. Rick Hopper is both the Executive Director of Biz Owners Ed, a nonprofit serving the entrepreneur community in the DFW area, and a serial entrepreneur.
Hopper is known not only for his product’s success but also for inspiring others through his story of perseverance, faith, and innovation. He continues to speak to entrepreneurs and aspiring inventors about overcoming obstacles, trusting their instincts, and taking bold steps to bring ideas to life.
Comments