When you are a business owner, it's important to stay current with trends and be open to new opportunities. It's also important to not be distracted by a new idea, product or offer. Knowing when to let a new idea take off and when to stay on course with your original vision is critical.
How do you decide?
CASE STUDY
Aiden started his company based on a great product that he was sure people would buy. He had a plan to engage 200 distributors who would each promote his product and he would be wildly successful. Wonderful ideal!
The catch was that he had the “Shiny Object Syndrome”: he was easily distracted by and lured into projects that looked exciting, and were not part of the company mission/vision. These caused him to shift his focus every few months (sometimes weeks) and off he would go!
It is hard to resist an exciting new venture that might make us successful. In Aiden’s case his original vision languished from lack of attention. 3 years later, he is finally turning his company around and starting to make good money. He has a small sign on his computer monitor: WIMM? (Will it Make Money?) And another handy acronym: WIGMB? (Will It Grow My Business?)
"First Things First" as Stephen Covey said. Keep the purpose the purpose.
Enough of the quips and acronyms! Small, medium or large companies must keep focused on what they’re trying to accomplish.
The catch was that he had the “Shiny Object Syndrome”: he was easily distracted by and lured into projects that looked exciting, and were not part of the company mission/vision. These caused him to shift his focus every few months (sometimes weeks) and off he would go!
It is hard to resist an exciting new venture that might make us successful. In Aiden’s case his original vision languished from lack of attention. 3 years later, he is finally turning his company around and starting to make good money. He has a small sign on his computer monitor: WIMM? (Will it Make Money?) And another handy acronym: WIGMB? (Will It Grow My Business?)
"First Things First" as Stephen Covey said. Keep the purpose the purpose.
Enough of the quips and acronyms! Small, medium or large companies must keep focused on what they’re trying to accomplish.
WIMM? Keep this in mind as a way of prioritizing your Goals, Strategies and Actions. When you have a clear vision and mission, ensure that your focus for you and your people follows the path to the realization of your vision.
Do you ever grab for a Shiny Object?
Check out my Leadership Coaching Program on my website. or email me for a free Leadership Strategy Session. ann@leadyourteams.com There are many layers to this simple concept.
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