One of the first items I go through with my new clients is the topic of Shiny Object Syndrome. This is because most of my clients are just starting up their businesses. Additionally, they are most likely struggling with lack of focus, burning through their cash, unable to complete projects and confusing everyone around them.
My goal is to take on the nitty-gritty items so that my clients can focus on making their “magic”. Thus, the ability to focus on their product and/or services. Letting go of all the additional time and money distractions that Shiny Object Syndrome creates.
What is Shiny Object Syndrome?
According to Entrepreneur Magazine:
“At its core, shiny object syndrome (SOS) is a disease of distraction…It’s called shiny object syndrome because it’s the entrepreneurial equivalent of a small child chasing after shiny objects. Once they get there and see what the object is, they immediately lose interest and start chasing the next thing. For entrepreneurs, rather than literal shiny objects, SBOs may be business objectives, marketing strategies, clients or even other business ventures.” [1]
How to Break free from SOS:
- Hire me! Or someone who provides the services needed in the areas in which you have no true expertise. This can be business planning, project management, marketing, social media management, etc.
- Always review how this new item aligns with your mission, vision and values statement.
- Those with health-related issues like ADHD are recommended to give the following items attention:
- Join a group fitness class
- Maintaining a healthy diet
- Reach out to your support group
- Stay physically active (walking, running, biking, etc. [2]
- Recognize that new does not mean better.
- A good book about Wabi-Sabi helped me here.
- Learn to see past the hype.
- Is this the latest fad or snake oil pitch? Or is this the real deal? Research real testimonials
- Ask yourself:
- Do I really need this item?
- What added value does it provide to my work and life?
- What are the pros vs. the cons of this new item?
- Understand the concept of switching costs and ROI.
- It is almost certain that the “price” is just where it all starts. Evaluate the costs of implementation, resources and the time it will take from ideation to execution.
- Assume a “wait and see” method.
- My clients and I use a parking lot for these items.
- Make a distinction between shiny objects and real opportunities.
- Get feedback from your team, mentors and support groups.
Do you struggle with Shiny Object Syndrome? If so, which of the above items can you start acting on today?