Archives for January 3, 2023

Shiny object syndrome is a common problem faced by many business owners. It refers to the tendency to become easily distracted by new and shiny opportunities, often leading to a lack of focus and an inability to complete tasks or projects.

Business owners are often faced with a never-ending stream of ideas, opportunities, and projects, and it can be tempting to jump from one to the next without fully committing to any of them. This can lead to a lack of progress, as the business owner is constantly starting new things but never finishing anything.

There are a few key ways that business owners can avoid shiny object syndrome and make real progress on their priorities:

1. Set clear goals and priorities: By having a clear sense of what you want to achieve, you can avoid getting distracted by unrelated opportunities.

4. Evaluate new ideas: When a new opportunity or idea presents itself, it’s important to take the time to carefully evaluate whether or not it is worth delaying your current priorities to pursue. Consider whether the idea aligns with your long-term goals, and whether it is feasible given your current workload and resources. If the idea is not worth pursuing immediately, consider adding it to a list of ideas to revisit later.

5. Make a decision: Once you have evaluated a new idea, it’s important to make a decision and stick with it. If you decide to pursue the new idea, be sure to adjust your plan and priorities accordingly. If you decide not to pursue it but want to revisit the idea later, be sure to add it to a document that you can revisit at a later date. If you decide not to pursue the idea at all, it’s important to let go and stay focused on your current projects.

By following these tips, business owners can avoid shiny object syndrome and make real progress on their priorities. While it can be tempting to jump from one opportunity to the next, it’s important to stay focused and committed in order to achieve success.

Setting and achieving goals is an essential part of running a successful business. It helps you define what you want to accomplish, create a plan to get there, and measure your progress along the way. In this article, we’ll discuss how a business owner can set and achieve their goals in 2023.

1. Identify your goals using the SMART criteria

The first step in setting and achieving your goals is to identify what you want to accomplish. One effective way to do this is by using the SMART criteria. This acronym stands for Specific, Measurable, Achievable, Relevant, and Time-bound. By setting goals that meet these criteria, you can ensure that they are clear and achievable.

2. Create a plan with specific action steps and deadlines

Once you’ve identified your goals, it’s time to create a plan to achieve them. This should include specific action steps that you will take to reach your goals, as well as deadlines for completing each step. It’s also a good idea to assign responsibility for each step to a specific team member or department. This helps ensure that everyone is working towards the same goals and that there is clear accountability for their completion.

5. Set aside dedicated time for goal setting and review

To ensure that you are making progress towards your goals, it’s important to set aside dedicated time to focus on them. This could involve setting aside dedicated time each week to review your progress, or creating a regular schedule for goal setting and review.

6. Eliminate distractions and time-wasting activities

One effective way to stay focused on your goals is to eliminate distractions and time-wasting activities. This could involve setting boundaries around how you use your time, such as not checking email after a certain time each day or limiting the amount of time you spend on social media. By eliminating distractions and focusing on what’s most important, you can ensure that you are making the most of your time and making progress towards your goals.

7. Build a strong team

Another key to achieving your goals is building a strong team. Surrounding yourself with talented and motivated individuals can help you achieve your goals faster and more effectively. This could involve hiring new team members, delegating tasks to existing team members, or providing training and development opportunities to help your team grow and improve.

Now that the new year has arrived, as a business owner, you are most likely working on your strategic plans for the upcoming year. Effective goal setting and strategic planning is essential for the success of any business. It helps you define what you want to achieve, create a plan to get there, and track your progress along the way, as I covered in more detail in this article.

While there are many different goal setting methodologies available, it’s important to remember that all goals should be specific, measurable, achievable, relevant, and time-bound (SMART). Regardless of which methodology you choose, incorporating the SMART components into your goals will help ensure that they are clear and achievable.

3. BHAG (Big Hairy Audacious Goal)

The BHAG (Big Hairy Audacious Goal) is a long-term, ambitious goal that inspires and motivates your team. While the BHAG may seem out of reach at first, breaking it down into smaller, achievable goals can help you make progress towards it.

One key aspect of the BHAG method is that it should be inspiring and motivating. It should be something that gets everyone excited and energized about working towards it. It’s also important to make sure that the BHAG is aligned with the overall vision and strategy of the organization. By setting a clear and inspiring long-term goal, you can motivate and engage your team and drive progress towards it.

4. Freedom Planning

The Freedom Planning process is a process I designed for myself and that I use with my private clients to help them achieve their business and personal goals. The process involves using a Yearly, Quarterly, Monthly, Weekly, and Daily Freedom Planner to track your progress towards these goals.