We all love new things, that’s a fact of human nature. As a business owner, reading this blog, you’ve probably been blessed with an entrepreneurial streak, giving you creativity, vision and passion.
But as entrepreneurs, it also means we’re prone to become attracted to the new, the ‘cutting edge’ and yes, occasionally it means we’re touched by ‘Shiny Object Syndrome’…
- Symptoms include the following…
- Distraction from important tasks
- Failing to finish current projects, in favour of some new fad
- Jumping on the latest trends without considering whether they fit into your over-arching strategy
- Decrease in profits; consistency and overall growth
With the sheer amount of information available on the internet, and self-proclaimed ‘experts’ telling you what to do, sadly it’s an affliction that’s spreading now more than ever…
6 Ways To Stop ‘Shiny Object Syndrome’ Taking Control In Your Business…
1) Refer Back to Your Goals
Before you even think about putting a new campaign together, you need to make sure that it is working towards your over-arching goals. Our guess is that somewhere, you’ve sat down with the members in your core team and you wrote down a list of priorities. These could have included annual priorities that you intended to stick to, specific targets or figures that you wanted to hit, or simply end of year goals you had in mind. Refer back to these plans, and if your new idea doesn’t cohesively fit and work towards the same end goal, then now’s the time to shelve it.
2) Make Sure You’re Creating Sustainable Assets
Simple and proven fundamentals are more important than the latest graphics or social media gimmick, we promise you! Your business needs to be built on sustainability and that includes your strategy too.
Make sure you’re able to realistically run this strategy in a year’s time. After all, you’re not just aiming for a flash in the pan, one-hit-wonder.
“Stop the spread and get right back down to basics and secure the foundations of your business to see real growth.” –
3) Consider the Impact on Your Other Projects
If you start planning this new strategy, will your other pipe-line projects suffer as a result? Starting new project after new project, but never fully implementing or finishing them is often a trap many savvy business owners find themselves in. If you’re going to start something ‘new and shiny’ make sure it’s not at the expense of a well thought out and valuable current project.
4) Don’t Rely Too Heavily on What Your Competitors Are Doing
While it might be tempting to jump on the band-wagon alongside your closest competitors, chances are, they don’t know what they’re doing.
“Don’t focus on the competition; they’ll never give you money.” –
Just because they are catching on to ‘the next big thing’, you don’t know whether it’s working for them and you have no real idea what results they’re actually getting.
5) Does it Fit Your Avatar?
The primary question you need to ask yourself is ‘how will this affect my target customer?’You need to be super-certain that the ‘shiny new object’ is something they truly want and will benefit from. If it’s not ideally suited to your market, then it’s not going to be a long-term success and could damage your company’s image.
6) Only Use Proven, Tried and Tested strategies Guaranteed to Grow Your Business
To make sure you’re using strategies and techniques that really work EVERY TIME, you need to capitalise on those that have fantastic proven results with other successful business owners.Ignore the latest craze some other competitors are desperate to try; get back to basics and focus your energy on the strategies that are going to grow your business and move it forward.
“Don’t allow shiny objects to distract you from your business objectives.” –
That’s not to say you can’t try new strategies or develop new campaigns in your business! However, before you start spending time and money testing something new, you need to get your fundamentals absolutely right.