Shiny Object Syndrome
As an entrepreneur have you wanted to be “Jack of all trades and master of all” and in the process started a project and then started another and so on without picking one and seeing it through to the end ?
In all probability you are suffering from shiny object syndrome.
What is Shiny Object Syndrome ?
Have you observed how a toddler gets excited about a shiny or bright object and starts chasing it ? Shiny object syndrome is exactly the same, with you starting a project but then jumping on to another project (shiny object) since it is more interesting or you want to master that project as well.
Impact of shiny object syndrome
The shiny object syndrome has lot of adverse effects and it can impact negatively on the business as well.
a.) Incomplete projects
One of the most obvious impacts of this is incomplete projects and hanging projects. A lot of resource gets wasted as you keep jumping from project to project. There could also be business ramifications because of this.
b.) Project delays
There could be delays in project delivery schedule impacting on other dependent projects as well as freeing up of used resources that can be used in other projects.
c.) Lack of direction
There could be lack of proper direction to your team without which they may be lost and wouldn’t know what needs to be done. This leads to unnecessary confusion and lack of clarity in business.
How to overcome shiny object syndrome ?
As we saw there could be implication both financially as well as blockage of critical resources that won’t be available for other projects.
a.) Plan and focus
The best weapon against shiny object syndrome is to plan the project properly and focus on the different aspects in detail. Set the objective and the approach correctly and then put down the complete plan. Don’t lose focus on the objective at any point in time.
b.) Short and long term goals
Split your project into smaller tasks and then jot down the short and the long term goals. Have checkpoints designed in the plan and focus on getting to the next checkpoint.
c.) Communication and feedback
Have clear and transparent communication with the team and get their feedback before starting out. This way everyone is on the same page and you reach your goal collectively.
Lastly its only a problem with how you approach things. When you prioritize on completing the job in hand rather than taking up a new project you will be able to beat the shiny object syndrome.