Beware the Shiny Object Trap

Shiny object syndrome (SOS) is a continual state of distraction brought on by an ongoing belief that there is something new worth pursuing. It often comes at the expense of what's already planned or underway. It's rooted in that childhood phenomenon of always wanting a new toy, even if your current toy is just fine.

These "bright shiny objects" can often seem like the solution to all your problems or the key to rapid success. However, as Dr. Ivan Meisner, founder of BNI, wisely pointed out in a recent interview, chasing these distractions can be detrimental to long-term success.

The Allure of Bright Shiny Objects

Bright shiny objects represent the allure of new opportunities, often promising quick wins or significant advantages. They can range from adopting the latest marketing technology, experimenting with untested business models, or even shifting focus to entirely new markets. While these opportunities can sometimes lead to growth, they can also distract from core business activities and lead to wasted resources.

The Cost of Distraction

1. Loss of Focus: One of the primary dangers of chasing bright shiny objects is the loss of focus on your core business goals. This distraction can lead to a lack of consistency in your business practices, which is critical for building a solid foundation.

2. Resource Drain: Investing time, money, and energy into new, unproven ventures can drain resources that could be better spent on proven strategies. This can lead to financial strain and even jeopardise the stability of your business.

3. Dilution of Brand Identity: Constantly shifting focus can confuse your target audience and dilute your brand identity. Maintaining a clear and consistent brand message is crucial for building trust and loyalty among your customers.

4. Opportunity Cost: Every minute spent on a new shiny object is a minute not spent on refining and improving your core offerings. This opportunity cost can be significant, as it may prevent you from fully capitalising on what your business does best.

The allure of bright shiny objects is often strong, but consistency and focus are the keys to long-term success. By staying committed to your core objectives and resisting the urge to chase every new trend, you can build a more stable and successful business. Remember, success often comes from doing the basics extraordinarily well.

The question is “Am I investing in this because it truly adds value, or am I just reacting to the excitement of something new?”

Is it a distraction from getting back to basics to identify and fix what is not working.

Just saying!