Misc

Gain Focus and Delegate to grow your Business

penny

There is this thing that affects many entrepreneurs and business owners; it’s called “shiny penny syndrome.” Shiny penny syndrome is the act of putting all of your focus and energy into something, until you see a shiny new something, that you then put all of your focus and energy on, of course leaving the last thing far behind in pursuit of the latest and greatest.

This act can occur often, especially in the technology industry. The interesting thing is in the technology space, you have to keep up with changes, and being ahead of the game can pay off in the long run. The problem with shiny penny syndrome is the part where all of the focus goes into the one new thing; this is where it can hurt a business.

In an MSP business that has a structure that includes a CEO, management staff, and or supervisors; the CEO must learn how to delegate everyday activities so that they can embrace their shiny penny syndrome. The reality is that most entrepreneurs seek constant innovation and have to always be working on something new in order to feel like the business is moving in a forward direction.

There is nothing wrong with this; I have always promoted the job of CEO as being one of innovator and dealmaker. In order to flourish in this role however, a CEO must learn how to properly delegate that last shiny penny, and hand off projects rather than just leaving them in the dust to be forgotten, or worse yet be considered wasted effort.

By focusing on one “new” thing at a time and by delegating as necessary, more projects will be completed and the employees and business will respond positively.

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