Entrepreneur Weekly 5: Business Attention Deficit Disorder
Don’t let Business Attention Deficit Disorder steer you off course. Keep your focus on the goal: your bottom line, according to your plan.
For the business owner who wants to be on top of things, BADD can be a threat to the business that must not be underestimated. Business Attention Deficit Disorder will kill your business, if you let it. Taking your eye off the goal, and chasing after BSO’s (Bright Shiny Objects) can be a fatal mistake. Even if you are a cutting edge, new-technology-driven enterprise, letting your focus stray from the plan you created may destroy your business.
The threat here is to your bottom line: making a profit. You are in business to make a profit first and foremost. While you may see others, in similar businesses or niches, making a killing with the latest discovery, fad, or other ‘feature’, don’t let that distract you from your own plan. It may be that your competition has resources, capabilities, etc., that you cannot muster to capitalize on their success. It may also be that to shift your attention to this new pursuit will pull you away from your core business, to your detriment.
The last thing you want to do is spread yourself, your staff, and your resources too thinly to keep up with your main focus. Shift your attention away from your core customers, for a short-term increase in revenue, and you may find your core customers have gone to your competition, never to return.
Evaluate new things in terms of your plan, your mission, and your goals. If a new thing complements your current business model, consider it carefully. If it does not, ditch it! Just as importantly, is this just something you like, or is it something your customers will like. If THEY don’t, forget about it!