The Biggest Problem For Today’s Entrepreneurs

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Shiny Object Syndrome is the phenomenon of being preoccupied with new and exciting opportunities. For entrepreneurs, this can mean new business ideas or products or services not included in your current business plan. They have this urge to try this new thing that someone seems to be successful with. It means acknowledging that you are being pulled away by your fear of things.

Most of the seemingly overnight successes took years rather than spending hours on the latest technology to become a millionaire. However, visionary entrepreneurs can quickly see the possibilities of shiny objects and sometimes indulge in them at the expense of their day job.

Why is shiny object syndrome a problem?

It takes focus, effort, and persistence to get your business off the ground and achieve any level of success. Some businesses can succeed as side projects, but the ones that go the farthest get the attention of the founders. But founders may overlook the work required to make their most shiny objects work and move forward without realizing the costs. attractive. Or, even if progress is rapid, if the underlying fear of success is underlying, Shiny Object Syndrome can occur as a form of self-sabotage.

Either way, succumbing to this common pitfall is a problem because it drains energy, focus, and attention from your core business. It also delves into not-so-helpful ideas. Rather than practicing consistency, continuous effort in one direction, and focus, we pursue distractions, trends, and short-term dopamine hits.

With more shiny objects than ever before, avoiding shiny object syndrome has never been more difficult. When starting a business, a founder must do three things: Defining the core product, knowing the ideal customer avatar, finding he one channel to reach these people. Once this product her market fit is achieved, the task will be to scale the business based on these three metrics, deviating from the plan only if there is a clear reason. Spreading your efforts across multiple products, multiple customer avatars, and multiple marketing channels is bad news at first and will only confuse you and your audience. Confused customers don’t buy.

What constitutes a shiny object?

Shiny objects may include new business ideas or joint ventures that entrepreneurs may want to start. Especially in the early stages when things are uncertain and in the later stages when things may be stagnant. Shiny objects can include new technologies such as AI, blockchain, automation, and robotics. When someone hears about the entrepreneur’s success story on his TikTok and hops on, shiny objects could arrive in the form of social his media his platform.

New advancements and breakthroughs occur every day, and it’s human nature to question whether we can take advantage of them. Jumping on the news and social media means seeing everything other people are doing and wondering if their strategy should be copied. In a fast-changing world with so many possibilities, haven’t we forgotten how he multiplies one thing?

Attending just one conference can take hours of debating why you should absolutely do this particular method of making money. Participants leave with notebooks filled with ideas full of possibilities. But it wasn’t a distributed effort that made these speakers successful. They doubled one he did until the fruits of their labors appeared. Focus is a superpower, and this is especially true for entrepreneurs. The one that cracks the focus code wraps the one that doesn’t. What faction are you in?

The problem with succumbing to shiny object syndrome is that it never ends. Entrepreneurs chasing the next shiny object chase forever, never committing to one path or seeing it through.

How to Avoid Shiny Object Syndrome

Experiencing Shiny Object Syndrome doesn’t mean your existing business is doomed. It means you are human. However, recognizing when shiny objects are helpful and when they aren’t can help you stay on track. When you get carried away with new possibilities, train yourself to think about the possibilities of the present. It’s easy to think of the best-case scenario for something unknown, but it gets harder when you’re faced with challenges every day. But remember what you’re working hard for and how much progress you’re making.

When you hear someone talking about the crazy benefits they’re getting from this new thing, consider their agenda. Why are they making it sound so easy? Perhaps they’re trying to sell you something. Maybe they underestimated the amount of time spent running it. What about all those people who jumped on board, went all in with glowing objects, and didn’t hit the jackpot? Be curious and ask questions. But think carefully before changing your plans.

Avoid shiny object syndrome by knowing your strategy and sticking to it. If you are, you are much less likely to deviate. If so, place it front and center. Write your number one goal on your bathroom mirror to create a desktop background of your roadmap to success. Remember what you’re doing to distract shiny objects that don’t stop appearing.

Another way to avoid Shiny Object Syndrome is to have periods of low media consumption. During this period, you will intentionally avoid news and updates to focus on your business. This may mean unsubscribing from newsletters, logging out of social media, not booking meetings, letting VA handle your emails, etc. At this stage, you have a clear goal and know exactly what you need to do each day to reach it. Hermit Mode is a solid strategy to maximize your chances of a successful adventure.

Shiny objects are new and exciting, so there is often an urgency, and prizes are quickly passed on to those who jump on them. Early adopters are followed by the mass market and latecomers, but by then it’s too late for meaningful results. This can instill a false priority that something must be done immediately. Really, there are very few things you absolutely have to act on right now. Even if your heart is pounding and you can’t wait to crack it, take a step back, go to bed, check your inventory, then consider your options.

Finally, think about the downsides before starting a new business or exploring new technologies. If you’re going to spend time in this new arena, where does that time come from? It has to come from somewhere. If that’s not your current job, it’s your sleep, leisure, or family time. Want to skip the gym to learn new software? Have dinner with your daughter for a webinar on AI? Think about what you get for new interests being added.? After all, it may not be so attractive.

Shiny Object Syndrome: Walk Carefully

Find a sweet balance between intense focus and unlimited distraction. This means opting out by default, saying no and sticking with the main his venture and the products, customers and channels he’s currently focusing on. Keep an eye on progress and take action when the time is right. However, don’t get hung up on what every opportunity means to you. If you do decide to pursue something, be absolutely clear where that energy is diverted from and if there are trade-offs. Discern real opportunities from distractions in disguise to tame shiny object syndrome monsters that want to keep you small.