Shiny New Toy Syndrome (SNTS)

I’m only human (don’t let anyone tell you otherwise). I love the new, the exciting, the different as much as the next person.  It can be wonderful at times. In business though, being distracted by the latest ‘shiny new toy ’can often have different and more serious implications.

It’s all too easy to get distracted from your core purpose and goals when opportunities are coming at you thick and fast. It’s a situation I see common in fast growing businesses, both start up and more mature, and one that I often spend coaching sessions exploring. The challenge is knowing the distraction from the genuine opportunity; although that’s not to say the distraction may not become an opportunity further down the road.

How to keep your focus on what’s important to reach your goal needs discipline but also a recognition that an open mind is your greatest ally. These are some of the questions to consider when you’re trying to sift the ‘Shiny New Toy’ distraction from the opportunity that can move the business forward.

Is this opportunity radical or evolutionary?

Does it move me closer to my goal?

RADICAL OPPORTUNITIES

• Potential level of disruption to the business is very high – may need new capabilities or extra capacity.
• High level of uncertainty.
• How acceptable would this particular ‘opportunity’ be to the market?  Has a high risk attached.
• May involve greater investment / cost more.
• Will pull you away from your current plans and goal.

EVOLUTIONARY OPPORTUNITIES

• Lower disruption as builds on existing capabilities
• Aligns with current goals so little or lower uncertainty.
• Market acceptance of current opportunity is known or considered to be high.
• Risk level is in line with identified risks – should add little or no further risk to your plans.
• May incur small extra costs or some extra time.

Ultimately, most opportunities lie somewhere on a continuum between Radical and Evolutionary and only you and your businesses circumstances will dictate whether you take the risk and follow the opportunity now or later.

This just one approach. What other methods do businesses have to sift the opportunities in order to avoid the distraction of SNTS?