The Entrepreneurs Curse: Stop Chasing Shiny New Objects

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May 26, 2022

Entrepreneurs are, by definition, ideas, people and typically not very good at the detail & not very good completer/finishers. This puts them in the precarious position of getting bored if they don't get immediate results, and this can easily lead them to chase the next shiny new object!
In today’s podcast, I want to dig into this issue in more detail and share 7 strategies to getting focused and avoid chasing shiny new objects.

Time Stamp

[01:29] A definition of Shiny New Object Syndrome

[02:00] What triggers Shiny New Object Syndrome

[02:03] Information overload and FOMO

[03:40] 4 drawbacks of being distracted by Shiny New Objects

[05:38] 7 strategies to help you stay focused and avoid shiny new objects

[05:53] Strategy 1: Have a plan, stick to it and revisit it regularly

[06:12] Strategy 2: Translate your plan into months, weeks and days

[06:26] Strategy 3: Use your plan to assess new ideas against

[07:13] Strategy 4: Write new ideas down to get them out of your head

[07:30] Strategy 5: Limit the number of projects you focus on

[07:58] Strategy 6: Limit the number of people, blogs or podcasts you listen to and get influenced by

[08:18] Strategy 7: Limit the amount of time you spend on social media and the channels you follow

[09:06] What is Monkey Mind and do you suffer from it?

[10:11] The consequences of having a Monkey Mind!

[10:40] Calming your Monkey Mind

[11:10] 3 ways to calm your Monkey Mind

[11:23] Tip 1: Know that it is possible to manage your Monkey Mind

[11:49] Tip 2: Have a conversation with your Monkey Mind

[12:05] Tip 3: Keep a journal 

Quotations

“A strategy you currently implement might not be sexy but don’t let shiny new objects distract you from that if it works.” - Rob Da Costa
“Get ideas out of your head by writing them down on paper. This means you won’t forget them but you can let them go and focus on the task at hand.” - Rob Da Costa

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Useful links mentioned in this episode: