Shiny Object Syndrome arises when you are easily distracted by the next big thing, fashion, or idea, taking your focus away from what you are currently working on or planning to do next.
Shiny objects can be new business ideas, attractive opportunities, or even being distracted by something more tangible, such as always buying into the latest course, business guru, or exciting business app or tool that’s trending.
But the important thing to know is that however it manifests, if not properly managed, it can play havoc with your business and result in delays to product launches, multiple unfinished projects, and even freelancer burnout.
Here are 4 ways to help combat it.
1. Assess your needs
Before you jump on the next big thing, ask yourself: will it be worth it, and do you really need it? How will it impact your business (and cash flow), and does it have the potential to make money, both in the long term and immediately? Also, how will it affect current ongoing projects?
In short, can you benefit from it – can the skill or idea make you money and solve your client’s problems, or is it just another dead-end distraction?
Not all shiny objects are bothersome; some really can help your business – but you have to do the homework first and ask yourself, will I use it? Is it worth it, and does it align with your business goals?
Shiny object syndrome can also rear its head when you are offered a lucrative new gig. Again, ask yourself if you can afford to take it on right now and how it will impact your current workload.
2. Carry out an audit assessment
If you work in the digital space, you’ll likely use an app or two.
Business apps such as invoice software can be excellent for freeing up your time, doing the tedious stuff you don’t necessarily want to do, and, in the case of Invoice Ninja, helping you get paid swiftly and on time. (Try it for free at the link here.)
But there may be apps, tools or online accounts you subscribe to that you don’t currently use or never have, so it’s worth doing an audit of all the tools you use in your business – and unsubscribe from the ones you no longer use.
There are several benefits to this exercise:
- It allows you to focus on your current digital assets.
- Reminding yourself of what you already have could mean that you realize you already have a tool, or you could re-purpose one, or even re-purpose ideas and content.
- Good housekeeping of digital assets and regularly reviewing them are key parts of a robust cyber security plan.
You may even find that some tools need to be upgraded, but if you are on a budget, consider reloved or refurbished tools and equipment.
The key is to be aware of the assets you already hold. You’ll be surprised how this exercise could even spark a better business idea – overrunning the original tempting shiny object.
3. Hold regular reviews
Hold regular reviews of your freelance business to see if you are hitting your goals and if everything is on track. These can be weekly, monthly, or whenever you choose, but having a regular review will help keep you focused on the important things.
Getting yourself in order and planning ahead is a good practice to adopt, not just for prioritizing your goals but also because it provides an ideal time for reflection. What are you doing right, what needs your attention, and what could you be doing better?
See them as similar to your job performance reviews in your previous 9 to 5. And remember to give yourself a good pat on the back for work well done!
Holding regular reviews will help keep Shiny Object Syndrome at bay.
4. Identify underlying issues
There may be underlying reasons why you are always attracted to the next big thing, so it’s worth being honest with yourself. Maybe you lack confidence or have a bout of Impostor Syndrome (which most freelancers suffer from time to time), leading you to go after the latest trending tactics or tools.
It could be a simple issue of spending too much time on social media and getting drawn down all the many rabbit holes profiling the latest new shiny things your business ‘absolutely must have to take it to the next level’ or lured into joining the latest business course or marketing cohort.
And lastly, it could just be a simple procrastination issue or, if you have an advanced case of it, a helpful sign to yourself that you need to take time out, rethink your business strategy or even pivot.
It pays to remember that just because everyone else seems to be using or doing something doesn’t necessarily mean it’s good for your business.
So before you get tempted by the next shiny object, take time to consider whether this is the best thing for productivity, whether you can afford it in both time and money and what impact it will have on your freelancer cash flow.
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Our blog has many more helpful tips for freelancers and small business owners. Take a look.
