How to Avoid Contracting The ‘Shiny Object Syndrome’

Have you heard of the Shiny Object Syndrome?

In the business world, Shiny Object Syndrome is the tendency of entrepreneurs to be easily distracted by the next ‘big thing’. Those that fall victim to it end up chasing too many different things and not accomplishing anything.

The Diagnosis

If the above symptoms relate to your business, you’re likely suffering from the shiny object syndrome.

You spend too much time on passing fads and not enough on building the fundamentals to grow your business. Don’t feel bad if this rings true for you, even major businesses fall victim to shiny object syndrome. It’s not always easy to tell what is a fad and what is a lasting technique to build a stronger business and generate more profit.

The Cure

Your best approach to avoid the shiny object syndrome is to focus on your top five must-do projects for the next 90 days. This strategy is especially important now that businesses are navigating the complex process of reopening post-coronavirus pandemic.

As we adapt to the “new normal”, here are our top five projects you should focus on:

Review Your Business Continuity Plan

Take time to revisit your business continuity plan and actively document your changes. You’ll want to not just figure this out on your own, but discuss with your team as well whether or not your existing plans are working. You may have had to change your business model drastically during the crisis. Some parts of that new model may be working great, but some may need to be left behind. Having a solid business continuity plan helps you to prepare for future disruptions and ensure your business continues to thrive, no matter the climate.

Layout a New Marketing Strategy

COVID-19 has changed the consumer landscape. Your customers’ lives have been affected by the pandemic. This means you can’t go back to your old marketing campaigns. You may need to change your personas, messaging and core offering to better meet customers needs.

Update Your Marketing Channels

If you’re planning on reopening soon, use your marketing channels to inform your customers. Update your website, Google My Business listing and social media accounts. This way you’ll deliver a consistent message across different platforms and avoid confusion.

Implement New Workplace Etiquette

Plan on how to establish new workplace etiquette to ensure the safety of your team. To prepare your workplace, you have to modify the workspaces to follow the social distancing guidelines and provide personal protective equipment (PPE) and hand sanitizers. In some industries, employers are encouraged to take their employees’ temperature and even screen for COVID-19 before returning to work.

Revise Your Human Resource Policies

If you’re an office-based company, human resources play a vital role in your organisation. It is essential to review your employee handbooks and policies. You have to evaluate if there is a need to change them if your team is returning to work in the office.

After reading our blog, we’d love to know your top 5 must-do projects to prepare your business for a post-pandemic world. Leave a message in the comments section below.

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