5 Critical steps to take when shiny object syndrome is slowing your business growth
Have you ever…
Threw money at a problem only to realize later it didn’t solve your issue?
Found yourself paying for and or taking course after course and not implementing most of what you learned?
Had a million and four ideas for new products or services, and you jump from one idea to the next without really seeing them through?
Answered yes to any of these? You might be suffering from shiny object syndrome.
If business owners aren’t careful, they can easily find themselves trapped by something termed shiny object syndrome.
Find yourself in this boat? Don’t fret! Keep reading to find out how to get your focus back.
Written by: Leslie Taylor & Associates
One of the biggest challenges I have faced in my business and watched my clients face is trying to figure out where to focus limited resources—time and money.
Even though I help entrepreneurs do this by providing them with greater insight into their businesses, the decisions are generally not easy, there are usually additional unknowns, and there is always some level of risk.
If you have been in business for any length of time, you likely understand by now that the name of the game is to figure things out as quickly as possible before you run out of money.
Figuring “it” out refers to understanding the right combination of things that will allow us to see cash flowing into our businesses and ultimately into our pockets. While we want to figure “it” out as soon as possible, sustainable business growth takes time. So, on the one hand, while we can and should learn from others, there are some things we must learn and validate on our own.
Ultimately, no matter how smart the owner, every business has gaps, inefficiencies, and things that no one on the team is good at doing.
Fortunately, there are a million and one options for fixing all the things.
Unfortunately, there are a million and one options for fixing all the things.
What is shiny object syndrome?
Shiny object syndrome is a type of distraction in which an individual is constantly chasing new, different, or the shiniest and most exciting things, and never making real progress.
Shiny object syndrome can distract to the point that a business ultimately fails because it never properly identifies and addresses the critical issues.
As an entrepreneur, you might have suffered from shiny object syndrome if:
You purchased a solution to a problem only to realize later that that particular solution didn’t solve your most pressing issue
You find yourself paying for and or taking course after course or working with coach after coach and not implementing most of what you learned
You have a million and four ideas for new products or services, and you jump from one idea to the next and on to the next…and the next never really seeing them through
If this is you, or has been you at some point in time, here are a few steps you can take.
What to do if you’re experiencing shiny object syndrome?
1) Ask WHY?
Do you have a sales problem, an expense problem, a profitability problem, or an operations problem?
While the cause of the issue could be due to a variety of things, most issues fall within one of these four areas. It is worth noting that it is possible to have some combination of these four.
Often by getting to the core of the problem, it is easier to determine the next action.
A sales problem looks like your business doesn’t have a steady and semi-controllable stream of clients and customers paying for your goods and services. It could be that sales activity is low, or that it fluctuates greatly. Any solutions forward must directly address the sales issue, if not you are wasting time and money.
An expense problem means a business hasn’t assessed its spending for money leaks. The solution forward must help the business look for and correct the money leaks before they run out of resources.
A profitability problem means the business is making sales consistently, but the money in the bank account doesn’t show it. The business has low or no cash even though the money keeps flowing in and clients/ customers are buying. The solution forward should first help identify the source of the profitability problem (pricing, excessive discounting, etc.), then help you address the issue.
An operations problem means that something in the way the business is doing business is keeping it from reaching goals. Maybe one of your employees is overloaded (maybe that is you, the owner), perhaps your customer experience is lacking in some way, or maybe your product has quality issues, or possibly your website is slow and potential clients get frustrated and leave. Again, the solution forward must address the operations issue directly.
2) Set goals for your business
Create goals for your business for the year that include a financial roadmap (budget) and look at your goals daily or weekly.
To stay focused, I keep a copy of my vision posted in my office and try to look at my goals every Monday morning before starting the week.
3) Be accountable to your goals
When considering any solution to grow or improve your business hold it up against your goals.
Possibly, more importantly, hold it up against your budget. How will this be paid for? Cash, loan, credit card, owner financed from personal funds?
4) Plan New Ventures
Vet new product and service ideas through a business plan format.
No, you may not need to create a full-blown business plan, but consider all the sections of a business plan and take the new idea through each section— goals, target market, the problem you are solving, marketing plans, and financial projections. Especially financial projections because you are in business to do what??? Make MONEY!
5) Give it a chance
Give new product or service ideas a real chance before you consider moving on to the next thing.
Once launched, give it at least 6 months and during that time gather feedback and make adjustments as needed based on that feedback.
Still unsure of how to heal shiny object syndrome?
Even with all these techniques, staying focused is still not an easy task for busy entrepreneurs. There are simply too many things calling for our attention.
When I am most needing to stay focused or accountable, I have found the use of an accountability partner or group to be helpful so that I could be more focused on those really big things that will move my business significantly.
If you need help determining whether you have a revenue, expense, profitability, or operations problem, or you simply need help tracking and understanding what is going on in your business, Leslie Taylor can help. As a business solutions expert, she has helped dozens of businesses untangle complex issues and clarify a path to greater profitability. Schedule a Discovery Session with her now.
Want to learn more profitable strategies for your business? Check out Leslie’s free guide 5 Things You Must Do If you Want To Increase Your Profits.
About the contributor:
Leslie Taylor is the Chief Profitability Strategist of Leslie Taylor & Associates Business Solutions where she helps small businesses maximize their potential of profitability.
How to manage your time better using your astrological chart
Have trouble identifying your purpose in life?
Maybe you don't feel all that fulfilled at the end of the day.
Unsure of how to best use your time and energy?
Perhaps you simply want to use your time in a more confident, productive, and joyful way than you already do.
No matter where you are right now… integrating your astrological chart into your schedule, time, and life might be the tool that helps you welcome in the next phase of your life and business.
Read below to discover how to use your chart to be more effective as you work towards your goals AND human.
Co-contributor: Alison Brownell
Let’s learn a little about Astrology
Astrology is the study of how planets and stars influence us.
Everyone has an astrological chart based on the month, day, year, time, and location they were born.
When everyday normal people think about Astrology, they’re often thinking about their Sun sign. Meaning the zodiac sign the Sun was in when they were born.
Thanks to the popularization of astro columns in newspapers in the early 1900s, and the fact that the Sun is straightforward to track because it's in the same place at the same time every year.
However, there are more planets than just the Sun in the sky. Each planet has its own archetype. There are also 12 signs, each representing a key part of life, from health to money to relationships and everything in between.
Where each planet is in the sky on your birth date, is the zodiac sign it’s in.
Our charts tell us so much more than just you’re a Virgo or Capricorn (aka where the Sun was when they were born.)
(If you've ever looked at your zodiac sign and felt disconnected from it, that might be why.)
When you put your birth information into this free chart calculator, you’ll see a complicated-looking circled chart. It’s a list of all the planets and where they were at the time you were born.
Where to look in your chart in terms of managing your time better?
There are two main places in your chart…
Saturn
If you ask yourself: How do I create a life where I feel accomplished and fulfilled? Well, Saturn is the place to look! He's so important in our charts, and yet still gets a bad rap.
Saturn is like that really difficult teacher you had all year, but once you finally graduated, you felt accomplished for making it through.
He's the dude that wants to make sure you’re on the right path – that you're spending your time wisely and doing the things that will help you grow.
Saturn will ask you if you want to spend time on the things you are doing on a macro scale. For example, am I working the right job? Am I studying the right subjects? Am I pursuing the right goals for me?
He’ll also guide you on a micro-scale. For example, Did I take good enough care of myself today? Did I spend time on the things that bring me joy?
Some helpful examples:
If your Saturn is in Pisces, it’s preferable to live and/or work in solitude and in contemplation. Being a remote worker at home? Heck yeah!
People with Saturn in Gemini's strengths include preciseness, accuracy, and logical thinking. They make an excellent teacher or guides.
For Saturn in Cancer, they’d be well suited for businesses related to real estate, home, family, and nurture.
When it comes to managing your time, what you choose to fill it with it’s the most foundational piece and extremely important.
Saturn will tell you (probably, over and over again) what to focus your precious time, energy, and life on depending on what astrological sign he’s in when you were born.
If you want to learn what to best focus your time and energy on, look to Saturn. I recommend you use this free Astrology website to get a breakdown of your Saturn.
Mars
Aside from Saturn, the other most important place to look at, in your chart, is Mars. In Astrology, Mars is associated with confrontation, energy, strength, ambition, and impulsiveness.
Mars is the planet of energy and action, it dictates how you take action. Where to place your time and energy is your Saturn, how to use them is Mars.
It's important to understand your unique rhythms and patterns in order to make the most of your time.
More helpful examples:
If Mars is in Libra… that’s the energy of partnership. So to be able to collaborate with people to get things done is an important piece of your process. Also having a balanced way of looking at projects is key.
Mars in Capricorn, your ambition is strong. This might look like someone who needs to set up their schedule and time around feeling accomplished. They also might tend to work late or on weekends because they’re so driven. (Watch for burnout here!)
Mars in Sagittarius needs to have freedom and doesn't necessarily like to be told how things are done. When it comes to traditional time management, time blocking might feel super restrictive for these people.
How to apply your unique Saturn and Mars to your schedule?
Look up your Saturn. What sign was Saturn in when you were born?
Look up your Mars. What sign was Mars in when you were born?
Write down the things about each planet’s sign that resonate with you.
Take Saturn’s sign and think about it in terms of your goals and how you spend your time on a macro and micro level.
Take Mars’s sign and think about it in terms of your rhythms, energy, scheduling, and how you take action.
Want to build a schedule that’s sustainable, unique to you, and in alignment with your astrological chart?
Book a sustainable Schedule VIP day to get organized and be more efficient with your time (while still being human!) now.
About the co-contributor:
Alison Brownell has been studying astrology and reading charts for nearly fifteen years. Combining this information with coaching and communication skills honed as a former college counselor, Alison is able to help you connect to your highest self in a way that feels mystical yet practical, and always empowering.
How to achieve your goals and feel well-rested (yes, it's possible!)
It feels extremely counter-productive to focus on rest and health FIRST, then our to-do lists.
We’ve been taught to get everything done, and then we can take a break.
What happens when it’s literally impossible to get everything done? Cause that’s the truth. You will never get everything done.
We stay exhausted, running on a treadmill of tasks hoping for one day when we can breathe.
That’s where traditional time management extremely suffers, and holistic time management excels.
When you put yourself first, like legit first, and everything else after… achieving your goals and feeling well-rested becomes a reality.
Finally!
Find out how Kirsten was able to put herself first while accomplishing even more than she set out to in our 3-months working together.
Since this post is more of a case study than a how-to, don’t miss the coaching questions at the end of this post to apply Kirsten’s wisdom and transformation to your life and business.
Tell us who you are and what you do.
Kirsten Welge, Founder/Director of Natural Awareness, LLC
What was achieving your personal and professional goals like before you began working with me?
After leaving my corporate healthcare manager position of 5 years for a 6 month 'sabbatical', I was struggling to set a daily routine that helped me complete deeply important goals AND left me feeling well-rested.
I relied on deadlines and a buildup of external and internal pressure to move me - which didn't translate well to cleaning the home or completing other "maintenance behaviors" necessary for life to run smoothly.
What did you love about having me as your holistic time coach?
Your check-ins strongly supported accountability.
Mindful breathing to start our sessions.
Experiencing your presence – you're gentle and accepting, which helped me to soften my approach to myself.
The invitations to try things out and see how they worked for me (like bedtime rituals).
Your approach to time management and the calendar make-over!!! <3 That was life-changing.
What has happened in your life or business since we worked together?
In my life…
I realized my body does cue me when it's tired -- and I am practicing setting a rhythm to settle towards a regular sleep time of 9-9:30 PM. (A far cry from working until 3 AM!!)
I began to listen more to my body, and nap when it asks me for rest. I feel more refreshed and relaxed.
I accepted that I am not a robot that can produce indefinitely at the same rate, regardless of feelings or circumstances.
I donated a trunk full of bags of items to Goodwill, and donated another 40 pieces of business clothes (suits, pants, jackets, shells, blouses) to a local group that sets up low-income women with interview & business clothing.
I cleared the main floor space of our home - AND KEPT IT CLEAN with maintenance of 5-10 min every evening. WOW! ...and this led to a huge breakthrough and more trust with my partner. Thank you!
I cleared a space in the basement for my "recording studio" for a national talk.
I prepared and delivered a national talk to my aikido federation on why I train, and how our training can be applied in daily life.
I completed a series of biweekly bike rides (including time trials, hill climbs, and gravel rides I'd never done before) on 10-40k+ routes from June-August.
I developed muscles and speed I have never had before.
I completed a 10-day solo Boundary Waters Canoe Area Wilderness trip, with portaging (never done before), and found greater clarity and trust in my mind-body than ever before. I had no regrets whatsoever about spending that time alone.
In my business…
I opened up to being OK with not producing an income with every action I took.
I worked through anxiety about comparing myself to how others did things.
I worked through anxiety & resistance about offering certain classes, made clear, confident decisions, and experienced greater ease and alignment.
For Q4, I reduced my number of quarterly goals to THREE, from more than 8... and am seeing progress on those three fronts, instead of feeling like a hamster trying to spin multiple wheels. Awesome!!
Thanks to your calendar makeover, I now have large time blocks for focusing on a particular group of tasks. This is SO helpful!
And, I've built in time for daily activities to settle me and connect me to my partner and friends, which often fell to the wayside in the past.
I filed for my LLC!!!
And, I finally put together a site for my business and flier for my first program, Track Your Backyard! I have learned so much and now have a functioning website. AWESOME.
What do you think made those things (listed above) possible in just 3 months of working together?
Focusing on rest and health first.
When I'm rested, I have a greater awareness of myself and what's needed, short- and long-term - and I am more efficient and effective at completing what's needed.
Boom. ^That’s the key right there.
But how?! How do we make this massive shift in how we manage and think about time?
Here are some coaching questions for you to think through:
How might you put yourself first, and everything else second (or later)?
What might be keeping you from being able to do that?
What is your next best step forward?