It is shiny, it is new…
BUT BEWARE, EVERYTHING THAT GLITTERS IS NOT GOLD!
Great business entrepreneurs and successful leaders create significant profits and leverage fantastic opportunities by seizing moments when they present themselves. They do so with passion – and often as early adopters.
Unfortunately, many entrepreneurs and leaders become drawn to the bright, shiny opportunities, and the more successful they become, the busier they are, the less mental capacity there is to make informed decisions. This attraction to new shiny opportunities is often referred to as ‘Shiny Object Syndrome’.
While Shiny Object Syndrome is often presented in a negative light, when understood, it is often the differentiator between success and average performance or failure. Those who are successful in managing this syndrome understand the psychological “Shadow” aspect as described by Carl Jung (Swiss psychiatrist and Founder of analytical psychology).
Successful entrepreneurs and leaders differentiate their outcomes from those that are average or underperforming by identifying opportunities with value and well-understood risks.
So how do you tell the difference between REAL GOLD and avoid time, money and energy chasing FOOL’S GOLD?
Both shine, attract attention and excite entrepreneurs and leaders; however, success is created when you:
- Take 5. Pause to gather facts before jumping in and committing to an action.
- Ask – what specific benefits will this provide to my business?
- Consider – what is the initial investment and ongoing costs? Will the opportunity provide positive returns?
- Ask – is this something that my customers want, need and will pay for?
- Consider – do I have the time, resources, money and knowledge to fully commit to optimising this opportunity?
- Review all to-do items you have to complete. Is this new opportunity of greatest importance?
- Ask – do I need this in my life and business at this point in time, or would other opportunities provide a higher return?
- Make clear, timely decisions and then ACT with full commitment until the execution of all must complete steps have been successfully undertaken.
Businesses that create sustainably successful outcomes do so by spotting the opportunities that keep their customers at the front of mind, deliver offerings that reflect their status as industry leaders and by focusing on this eight-point checklist.
If you are struggling with Shiny Object Syndrome, contact me to book a FREE, 90 minute session with me, to get things back on track.