December 9, 2014
1. Do you ever get so excited about a new idea that you abandon your current projects to work on it?
2. Have you ever found yourself unable to make significant headway in your business because you’re distracted by so many ideas?
3. Would you prefer to come up with new ideas and new products rather than spend the time and energy to market your existing ones?
4. Do you truly believe that your new idea is “THE” answer to your business?
If you answered yes to any of the above questions you may suffer from Shiny Object Syndrome.
WHAT IS IT?
Shiny Object Syndrome is when the creative entrepreneur consistently jumps from new idea to new idea. This could be consistently coming up with new products or new marketing tactics, or new business models to operate under.
WHY IS THIS SO BAD?
Those who suffer from Shiny Object Syndrome may be undercutting their business because they don’t follow through long enough with their existing ideas to see if they will become profitable. Instead, money, energy, and time is constantly being diverted to focus on new ideas which can run an entrepreneur down both emotionally and financially.
WHAT CAN I DO ABOUT SHINY OBJECT SYNDROME?
If you recognize these symptoms in yourself there is, unfortunately, no vaccine. However, studies have shown that setting 2-3 goals for your business from which you can measure all ideas by can help with focusing. Additionally, entrepreneurs should commit to a certain amount of time that they are willing to work on existing projects to see if they come to fruition before changing course. Remember, every time you make changes or add numerous new products, you may potentially be causing confusion in your consumers. Afraid you’re going to forget your new idea? Write them down – you can always work on them in a few months time!