It’s easy to get overwhelmed in any entrepreneurial endeavor, whether it’s brick and mortar or online business. It feels like there’s always more to do. There’s always more products to create, more services to offer, more landing pages or opt-ins to build, more blogs to write, and more beyond all that! One thing that adds to the overwhelm is what could be called the “Latest and Greatest Must Have Syndrome.”
It’s natural to want to have the best tools, methods, and business models available, but going after every new one that comes along can be a real business killer! The problem with latest and greatest must-have syndrome is that it shifts your focus away from the progress you’ve already made and diverts your attention and energy into learning how to use and implement the new tool or method.
The other side to the same diversion coin is chasing after the prestige of being an entrepreneur, but not being committed and dedicated to one business idea. For example, you know a couple that has a successful home business in bee-keeping. You see them in a booth at every regional festival selling honey, beeswax products, royal jelly, bee pollen health aids, and the booth is always packed with customers. So you decide to get into bee-keeping yourself.
You buy the hives, the smoker, the bee suit, queen-catcher, and all the recommended equipment. You’ve spread the word and begin getting a following on your bee blog. Locals are placing preorders for your first batch of honey. You’re excited, and you’ve only gotten stung once (by the entire swarm). Sure, it took eight days for your swollen nose to look normal again instead of like a bloated Ball Park hot dog that sat in the steaming tray too long—but hey, it could have been worse.
And then…Latest and Greatest Must Have Syndrome hits. Your neighbor just started a direct marketing business in essential oils. Not only does she smell good for a change, but the fermented elderberry tortoise oil is what helped the swelling in your beak to go down. Impressive. You must have it! So now you’re off and running (or off and sliding) down the oily path on a slick, new business venture. And just about the time you’ve got it all down, the next latest and greatest opportunity presents itself. All that work, time, and start-up money gone right up the bee smoker.
Sound familiar? Here’s how to not let this happen to you:
Set Clear Goals
The first step toward the clarity and focus you need to avoid latest and greatest syndrome is simply to know what your goals are. What exactly do you want to accomplish? Do you want to build a six-figure coaching program of some kind? Earn a living from blogging and affiliate marketing? Design websites for other people’s businesses? Manufacture bee-proof nose guards for bee keepers?
If you don’t know what your goals are, you’ll always struggle with focus. When you’re all over the proverbial map with every new strategy, tool, and opportunity that comes along, you’ll be pulled further away from your dreams of owning a successful business.
Commit to a Plan and Stick With It
Effective marketing strategies take time to grow, and even the best business models take months or years to turn a decent profit. If you want to develop and own a successful business you can be proud of, you have to commit to the long-haul. Before implementing a new strategy or business model, or even purchasing a new tool or subscription service, ask yourself if you’re actually putting to use all the other programs or devices you bought. If you’re not fully using the tools you already have—or haven’t even given them a fair shot—it may be time to put a self-imposed moratorium on spending for a while. You’ll never break even on the latest and greatest item you bought if you toss it aside for something else that comes along. Make a commitment to yourself and your business by sticking to a plan.
Maybe you’ll be so successful you’ll be able to sell your business and pursue a new endeavor! (I’ve done this three times…)
Put Blinders On
If you’re constantly tempted by the idea of having the latest and greatest of anything, put on blinders to keep you focused on your business plan. Stop paying attention to all the glitz, glamour, and hype out there. Get off of mailing lists that endlessly promote new gizmos, gadgets, and services. Stop reading the blogs and joining social media groups not directly related to your existing business. Don’t click on ads. (I know, this last one is asking a lot of both of us…)
When you focus on what your passion is, strategies you know that work, and keep your goals at the forefront, your chances of fulfilling your entrepreneurial dreams with grow exponentially! After all, you don’t want to get stung by a swarm of distractions.