Bright Shiny Object Syndrome has to be up there with the biggest problems I see exhibited in Entrepreneurs. I confess – I am a recovering addict, and in remission!
I’m talking about those in business who get so distracted by new projects that they lose sight of important tasks, KPIs and even what they set out to do! Perhaps you have a “friend of a friend” who has neglected their (perhaps successful, longstanding) business when they became part of a multi-level marketing program or bought an additional franchise? Or maybe you know someone who has become so enamored with their snazzy new cloud filing system that they’ve deleted years of valuable, crucial physical filing? You get the idea. Richard Branson jumps to mind instantly as a BSOS suffer who manages his “disease” :) (can you ever imagine this man sitting still?)
Entrepreneurial Business Owners that have learned to tame this beast (or have surrounded themselves with beast tamers) are the ones who are truly successful in business.
The tough truth is that the Bright Shiny Object state of mind feels fun, exciting, full of potential; but, like any drug, it’s addictive and destructive to the business owners’ dream of financial freedom.
This state of mind runs rampant among business owners. In my 12 years of coaching business owners, I’d estimate that at a minimum 90% of them have been transfixed by “the next big thing” and distracted from the goals and actions that their attention should really have been focused on.
Key symptoms of the syndrome include (but are not limited to):
Always on to the next ‘big thing’ . These people lose their ability to resist the urge to jump into every “joint venture” or “alliance” offered to them, no matter how far-flung the product or service is from their core business.
Purchasing every new business productivity tool or “guaranteed to get new clients” marketing program offered to them.
Eternal (misplaced, dangerous) optimism
Fast! They’re Fast talkers, fast thinkers, fast movers…
They’re lacking in structure.. ‘Cause if they sit down and do a cash flow forecast, feasibility study or any actual measuring they “might miss out.
Starting and not finishing
…… everything, including sentences.
Making – and losing – fortunes. Sometimes we relapse.
I love The Entrepreneur. They see the big picture & the opportunity. They have vision – and we soooo need vision in today’s world.
Entrepreneurs are leaders, ahead of the pack, changing the world, but the BSOS is their Achilles heel.
Do you relate?