Entrepreneurs face many challenges throughout their careers and have a number of responsibilities. Even a slight illness can set an entrepreneur back while they recover.
However, other challenges exist that can set you back far more than just a few days. Shiny ball syndrome is one such challenge. To overcome this, you need to take immediate action.
Shiny ball syndrome is simply a disease of distraction. It affects entrepreneurs worldwide, even if they are highly motivated to succeed. Here are 6 reasons why shiny ball syndrome will hinder your success.
Failure to Complete Projects
Shiny ball syndrome can distract you from a current project before any results are seen. You may get distracted and put your current project on the back burner while you move on to something new. You will fail to see long-term results.
For example, you invested in a new SEO strategy for a short time and then switched to a different strategy before seeing the results. Shiny ball syndrome causes you to lose the benefits of the original strategy.
Entrepreneurs with this syndrome focus on the novelty of a strategy or making changes instead of shifting their focus on the strategy itself. Instead of finding and developing a new product, your focus shifts because you do not have a long term plan in place to follow through with your new product. This means unrealized potential.
Jumping from platform to platform and service to service is just going to result in your business burning through cash quickly without the return of any effective results. Distractions lead to using tools that are not cost-efficient and don’t ultimately help the business thrive.
Everyone is affected by poor decisions within a business. Changing the direction of your business too often or too quickly can result in confused and distracted staff. A project they were previously on top of may fall to the wayside, and their goals may have to shift unexpectedly. This can cause significant disruptions resulting in the lack of employee loyalty and productivity.
Communication is key to any business. When decisions are made without notice, and projects are dropped, this lack of communication spreads throughout the entire business structure. Productivity ceases, and employees feel as if they are not part of the decisions being made.
Failure to Achieve Short Term Goals
Finally, shiny ball syndrome can lead to abandoned projects and lost money and resources. Long term goals should be set for every project within a business, including putting a timeframe on completion. Short term goals are also needed to help keep the team focused on achieving long term goals.
Once you find ways to overcome these distractions, you can create a more consistent path for your business that keeps everyone productive and the business moving in a positive direction.