Entrepreneurs tend to be highly motivated creators. Because of all this energy, they are more particularly susceptible to the “Shiny Object” syndrome. It’s the condition of being side-tracked by a new business idea or a new project that feels exciting. There is a conflict when it comes to whether entrepreneurs should focus all their time and energy into one business or diversify and not put all their eggs in one basket.
In this episode, we deep dive into the pros and cons of focusing on just one business and working on two separate businesses at the same time. When should you chase one rabbit and when should you chase multiple rabbits simultaneously?
To answer this question, ask yourself what your vision and goals are. How you choose where you put your time every day of the week comes down to what your priorities are.
At the end of the day, have a clear vision of what brings you joy. If you’re clear on your vision and goals, it makes it easier to know what to focus on for your business.
IN THIS EPISODE, YOU’LL FIND OUT…
- 1 Rabbit vs Multiple Rabbits (2:15)
- Time management (5:22)
- All of us have 24 hours in a day (5:49)
- Priority management (5:50)
- Working hard on the right things (6:32)
- Time is about resource management (6:49)
- Optimizing for money, time, impact, and legacy (7:08)
- Optimizing for joy (9:43)
- Do you focus on one business or two businesses at the same time? (10:44)
- Learning new skills (16:03)
- Dynamics of working with a business partner (18:10)
- Being able to let go and delegate more (19:26)
- The man who chases many rabbits catches none (23:22)
- Coming back to your why (25:25)
- Finding the difference between delegating vs pushing through the barrier and getting something done (29:00)
- Organizational design (34:33)
- Tips for someone suffering from shiny object syndrome (38:11)
- Prioritizing your projects (41:03)
- 80-20 Rule (42:18)
- Your business is your business. Your business should serve you. (45:50)
- Focus on results rather than activity (46:53)
ADDITIONAL RESOURCES:
- The One Thing by Gary Keller and Jay Papasan
- Eat That Frog by Brian Tracy
WHERE YOU CAN FIND US
CARL TAYLOR
Automation Agency
CarlTaylor.com.au
LinkedIn
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PETER MORIARTY
iTGenius
LinkedIn
Facebook
Twitter
Like this episode? Have a topics that you would like us to discuss? We’d love to hear your feedback and comments. Let us know by leaving a comment below.