Are your suffer from SOS?
(Shiny Object Syndrome)
Three weeks ago we talked about "Shiny Object Syndrome" (SOS), and how it can distract you in your day to day business.
Today we share with you a list of questions that you can ask yourself. That way, the next time a bright shiny object appears in front of you, you can assess whether it’s a real distraction, or a great opportunity for you and your business.
Here's some of those questions:
- If I take this opportunity, will it benefit my business?
- Will it give me more sales, profit, and exposure for my business?
- How much time will I need to make it happen?
- Is it a one off investment or is it on-going?
- If it is on-going, can I delegate or outsource it?
- If I can outsource it, will it still be profitable?
- How long will it take to recover my investment (time and money)?
- Does this opportunity a fit right for my business?
- Do my customers want this, and are they willing to pay for it?
- Do I have the time, resources, energy, funds, and focus to make it successful?
- Do I have too many open projects at the moment?
- Do I need to be finished with one project first before I start on this opportunity?
- Do I have the capacity to complete this new project? Plus implement and execute it?
- What do I need to let go of in order for me to start this new opportunity?
As a passionate business owner, running your own Art & Design practice and working towards designing your ideal Business LifeStyle, you are wearing more than one hat at one time. Your time is money. So don't rush into it, think carefully about the appropriate action.
So... If something "bright and shiny" comes along, how do you know whether it’s an opportunity to take advantage of, or yet another distraction you from your goals and your business?
In our experience as coaches working with business owners like you, the easiest and most effective way to make that decision is to take a deep breath, become 'the observer', and look at each Shiny Object with those above questions in mind.
Once you've answered these questions for yourself, you'll know whether the idea makes any sense, and if it's of benefit to your business..
We know it's hard not to get excited about every new idea that comes your way. Some of them are real cool and interesting! But remember, you're running a business and we each only a certain capacity to successfully complete multiple projects - How many balls can you juggle at any one time? - (And that answer is different for each of us).
"SOS is everyone's major distraction... so think before you act." ~ Vinh Van Lam
There's nothing wrong with admiring new innovation and ideas. We just want you to make sure you don't lose your concentration, and your focus, on what's most important for you... your business and your clients.