Beware of Shiny Object Syndrome (SOS)

Being highly motivated is often the key to success. Entrepreneurs at their core tend to be motivated to try new technologies and chase new developments to get the next, newest project off the ground.?However, it is easy to get distracted from your current path by the “shiny” new opportunity. While being motivated and driven to keep your business up to date and ahead of the curve are great characteristics in a business owner, it is easy for those same characteristics to lead to Shiny Object Syndrome (SOS). In the same way a small child tends to chase after the newest toy, but quickly becomes bored once they have their little hands on it, entrepreneurs need to beware of falling victim to SOS, as it can cause some serious drawbacks to your business and career.

???????????????Shiny Object Syndrome is not an actual illness, but it can knock your business down a few pegs if you let it get out of control. Some common issues entrepreneurs who experience Shiny Object Syndrome experience include:

·????????Poor planning of your ideas

·????????Inability to finish projects

·????????Spending too much money

·????????Confusing your staff

It is very easy to get excited about your new idea, whether it be for a new project, or a new strategy, or even a new client to pursue. However, if you jump from new idea to new idea too quickly, you do yourself a disservice. If you don’t give yourself enough time to plan these new ideas, or enough time to see if they can pan out and turn into a success, then you will have underdeveloped ideas or strategies and you will not be able to reap the long-term benefits. Additionally, new technology often requires new tools, new platforms, and new licenses. Spending money to be on the cutting edge, without spending enough time to see it through, will leave you in the hole. Meanwhile, while you are jumping from idea to idea, your staff will likely have trouble keeping up. When your employees start to see the projects they spend lots of time on becoming irrelevant, it can disrupt productivity and even create some dissatisfaction among your staff.

???????If you do find yourself as vulnerable to SOS, there are some tricks you can implement to compensate for your entrepreneurial spirit. First and foremost, it is beneficial to take some time and really think about your new ideas before attempting to implement them. In addition to giving yourself a little more time to think new ideas through, it can be helpful to talk with your team. Your employees will be happier with having a say, and it can help with the research to be sure the new idea is worthwhile and not just a hasty decision. When you do decide to try a new idea, it is helpful to set both short- and long-term goals. Make sure you keep those goals in mind before you shift gears. Finally, once those long-term goals are set, don’t abandon your new project until you reach your goals. The only time you should abandon a project is if it no longer makes sense monetarily or effectively.

???????Shiny Object Syndrome is not a terminal illness - it is only a problem with how you think about your business. If you recognize the signs of SOS in yourself, follow the above tips to correct those tendencies, and you can help keep your business on a reliable, consistent path. Need help, message me.

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