11 Questions You Need To Answer To Know If A “Shiny Object” Is Right For You!

A lot of entrepreneurs believe their performance struggles stem from “shiny object” syndrome. Getting distracted by the latest, greatest, newest, sweetest, whiz-bangiest whatever-it-is. But did you ever think a “shiny object” could actually be good for your business?

You know what… they actually can!

You just need to make sure of a few things first…

1: Q: “Is it a PROVEN shiny object?”

(I’m not talking about testimonials in the sales copy.) Ask yourself: “Has it worked for others with business goals similar to mine?” “Do I know anyone personally who has used it with success?” “Have any of the big players in my market implemented and used it successfully?” You have to say “yes” to this question before you answer any of the others.

2: Q: “Does it make sense within the frame of my current business vision – with what I hope to achieve for myself and my customers?”

3: Q: “What are the associated tradeoffs? What are the costs I will incur relative to the payoff I can expect?”

4: Q: “Will it enhance my present process of achieving my goals? Or will it unnecessarily complicate things?”

5: Q: “Will it actually simplify my work toward my goals, or does it simply add to my workload?”

6: Q: “Will it require any arbitrary change in direction from my essential steps?”

7: Q: “Will it demand excessive resources to implement?”

8: Q: “How much time will it take away from my current processes? How much time might it save?”

9: Q: “Can I easily implement it across my entire organization? Or will it take excessive time and effort?”

10: Q: “Will it send a confusing message to my team and or my customers?”

11: Q: “Can I explain all of what it will do for me within the framework of my current vision on the back of a cocktail napkin?”

(If its benefits are not clear and in focus, forget it.)

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  • Don Lovato

    This is really a great Slide share Rich! I appreciate the clarity on this, as I’ve struggled for a long time with SOS, it’s been a real bottle neck to my success, I do a tremendous amount of business now, I can only imagine how much we’ll do as a result of your insights. Thank you.

  • krvince

    Love question 1 and the coaching answer. Now, try to get the answer to this one from any Object purveyor. You’ll be told you are 1) too negative, not forward thinking 2) deluded by the canard that “it won’t work here” 3) failing to “take action”

  • Rusty Robson

    Great list of questions to make sure a course or a tool line up with your vision and strategy. Thanks.

  • Fabi Lara

    Love the slides, Rich! You do a great job at explaining things. Will think of those things more as I decide to buy the next shiny object.

  • Simon Anthony

    I changed my view completely towards shiny objects. I’ve become almost immune to the sales hype and don’t usually even bother reading 95% of it. In the Make Money Online niche it’s so hard to separate the good form the bad. Almost impossible in fact. So my new approach is to only buy stuff that’s inline with a current problem that I need solving, from reputable sellers.

  • http://www.strategicprofits.com Rich Schefren

    Thanks Don! Glad you enjoyed it

  • http://www.strategicprofits.com Rich Schefren

    That’s a good strategy Simon! Thanks for reading!

  • http://www.strategicprofits.com Rich Schefren

    Thanks for the kind words Rusty!

  • http://www.strategicprofits.com Rich Schefren

    Thanks Fabi! You can usually rule out the SOs that won’t help you pretty quickly. That’ll keep you focused on what you need to do!

  • http://www.strategicprofits.com Rich Schefren

    Sounds like you have some personal experience! Thanks for sharing your thoughts.

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  • Seth Braun

    Helpful perspectives; something I will share. Many clients of mine could benefit from this checklist.

  • http://www.strategicprofits.com Rich Schefren

    Hey Seth, Glad you found it helpful. Thanks for sharing your thoughts.

  • Elizabeth Thomas, MS

    What about adding “have I bought other shiny objects that I never finished reading/listening to, and/or never implemented? <– that's about 90% of people who might want to go back and learn from their last shiny object before buying a new one. Good list though! :)

  • http://www.explainedwell.com/ Steven Blake

    I have bought many shiny object that suggest they get more shares of your page etc. Does anyone on here actual ever do anything other than click the x on a pop out box that obscures what you are reading?