When starting out in business it is important to beware the entrepreneur’s curse!
No it’s not some voodoo or spell, it is a real phenomenon that almost anyone operating in the online world will succumb to at some point.
It impacts online business owners far more than traditional business owners because online you are exposed to so many ideas and so much information where a traditional business owner is working daily in a business that revolves around itself (so to speak). They arrive at work, stay at the workplace and go home. For the online business owner the workplace is online and that leads to a whole world of possibilities and distractions.
The Entrepreneur’s Curse aka Shiny Object Syndrome, impacts online entrepreneurs at two main times:
- When you are putting off completing tasks that are necessary for your business; or
- When you are in your most creative zone.
At both of these times you lose focus of the business you are building and are begin to think about new business ideas, new products, new courses etc. The main reason is that creating a new business online is quite easy i.e. use cheap website builders and build a site etc. The problem is that if you are putting your energy into multiple things you will very fast become a jack of all trades and a master of NONE! Basically none of your businesses will grow because your energy will be scattered between them.
The easiest ways I’ve found to avoid the curse are:
- Buy yourself a tabbed notebook. Label the tabs as business ideas, course ideas, product ideas etc.
- Keep it on your desk.
- When the next big idea strikes, write it in the appropriate area of the notebook.
- When your first business is really working well AND ONLY THEN, spend some time going through the notebook and see if anything seems worthwhile pursuing and then do the research you need to see if it is a viable idea.
- By putting all the ideas in your notebook you no longer have to commit them to memory or have them as a thought racing around your mind and they are safe and sound until such time as you have the free time to do the research and put the next idea in place.