Shiny Object Syndrome in Entrepreneurship

Will Talks Biz Ep 85 Shiny Object Syndrome in Entrepreneurship

“We can get very distracted from our goals or vision of success just based off of things that we follow and the influences that we listen to. They can cause us to compare and question what we’re doing, changing our outlook on success.”

The evolving perceptions of success can become a slippery slope for entrepreneurs. While continuous learning is important, it can also lead to shiny object syndrome. By having a clear definition of success you are less likely to fall into the trap that comes with critiques and comparison. Staying committed to your vision will help limit the shiny objects that tend to distract entrepreneurs from their goals.

Make sure to value personal growth as a measure of success. In fact, personal growth really has been my ultimate measure of success in entrepreneurship. Over time my perception of success has changed. Success is about personal development and learning from past mistakes. Never forget the importance of learning from mistakes and growing personally.

A big pitfall, or shiny object, in entrepreneurship is around the growth of a business. There is a common notion that the number of employees is a significant indicator of business success. This is incredibly shortsighted. Instead of focusing solely on the size of a team focus on customer impact and profitability. The importance of serving customers and being able to solve their needs is a great measure of business success.

Comparing yourself to others can lead to distractions and self-doubt. Instead, set clear goals for yourself and your business. Focus on achieving these goals through well-defined systems, ultimately leading to a sense of fulfillment and achievement. Make sure to listen to the full episode for more on not letting imposter syndrome and comparisons distract you from your vision of success.


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Key Moments

01:24 Perceptions of success change over time.

04:22 Impacts of Imposter Syndrome.

07:06 The challenge of managing many employees.

10:54 Efficiency and profitability over escaping the business.

13:39 Overcoming business critics and comparison.

19:33 Setting meaningful business goals.


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