Hi everyone! This is Mike Wolf again, coming to you from Estonia. Today I want to talk to you about avoiding “Shiny Objects Syndrome.” For those who don’t know the meaning of shiny object syndrome, it is a situation where entrepreneurs start something and never finish it, jump to the next thing, and never complete it as well.
You tend to go from one thing to the other without being successful with any one of them. The first thing to do is to recognize why you do that in the first place. And quite often, it is because entrepreneurs, or let me say real estate investors, we tend to get these great ideas that pop into our head. We get all excited and try to get started before we then find out that, “That’s not as easy as I thought.”
It sounded straightforward and then you hit a roadblock. It’s very tough on our ego because we thought this was the most excellent idea in the world. Dropping it is very tough on our ego, and it’s sometimes very difficult when you don’t know what is going to be your next step for you to keep going. More often than not, we discover something else. “Well, of course, I didn’t do that because there’s this new greater idea that’s way better than that last one, so I’m going to drop that and move on.” Except that we go to the next thing, start it, hit a roadblock and then we stop just like the first idea.
The problem of starting something and never finish it is that, it doesn’t generally pay you anything. Usually, you don’t get a paycheck out of it, and if you’re investing because you want to fix homes and help people, which I recommend is a good reason why you do what you do, nobody benefits if you don’t complete it. You’re not helping not only yourself but also anybody else. The only thing that saves is your ego, and it’s essential that you figure out ways to get over it.
For instance, if you look back to the native people who do rain dances, they are usually successful 100%, and you know why? Because they keep doing the rain dance until it rains. They don’t stop. You need to do the same thing. When you start something, you need to see it through. Even if you hit a roadblock, you just have to keep persevering and pushing through. Frequently, that involves bringing on other people.
One of the things that I do when I start something that I don’t have a clue on how to finish it is to bring other people on my team. People that are experts in the thing that I’m not good at and let them run with it. Then, I can start the second thing, build a team around it, let them finish it, and move on to the third thing. And I can tell you that doing so pays a whole lot better. It helps more people than if you’re just starting stuff that never sees the light of the day.
I recommend you apply the same formulae. Get the right people on your team, the right mentors, the right helpers, and the right whatever you need to be successful. Certain people can help you finish your entrepreneurial project or your real estate project. You just have to find a way to create a win-win between you and them for both of you to benefit and you can see things from start to finish.
I hope you found that very helpful. I recommend you check out my free pass of income master class. There’s a link in the description below that will take you there. This is where I talk on how passive income can be created– Well, I won’t say effortlessly, but with my help and my teams’ help, your effort is minimal. We do all the heavy lifting for you. Also, make sure you like this video, share it with your friends, and post any comments or questions you might have below. Once again I’m Mike Wolf, and I look forward to chatting with you soon. Take care.
QUOTES TO CONSIDER