#031 Shiny Penny Syndrome

In today’s edition, your host Neil Cowmeadow discusses the trap of Shiny Penny Syndrome. No matter how happy and successful you are, we can all be sucked into the vortex of new ideas and schemes that look so tempting. Shiny Penny Syndrome is the constant jumping of attention and focus, from one new thing to the next, leading to distraction and loss of direction, and in today’s episode, Neil shares with you an eight-point checklist to stay on track, and on the road to success.   KEY TAKEAWAYS It’s a human characteristic to be curious. We are, at our core, a species that just can’t stop investigating and exploring the world around us – that’s the key to all technology, inventions and progress. But here’s the thing about our curiosity: we can harness it to accelerate our progress along the right road, rather than allow it to distract us. This approach also gives me a fair bit of latitude in taking on new things, but at the same time, it keeps me grounded in my one big thing. As long as any new thing checks out as complementary with my Big Thing, I can do it. The “Do anything as long as it helps the Big Thing” approach allows you the freedom to do new things, whilst keeping you on track with the main thing you want to achieve. There is always an opportunity cost in doing anything. Whatever you decide to do, you’ll always have to sacrifice something else in order to do that thing – what you give up is the cost of taking up that new opportunity. Always make sure you’ve done a proper analysis of the potential upsides and the potential downsides of a new activity before committing time and money to it.   Shiny Penny Syndrome Checklist: Will this new thing (XYZ) help me to progress toward my Definite Major Purpose? If so, is it a good time to start? If it is not, diarise a review of the situation in 6 months. Review everything every 6 months as a matter of urgency. How much time will XYZ take away from my core activities? Will time spent on XYZ produce a better return on investment than anything else you could do? Can you afford to do XYZ? Can you afford to NOT do XYZ? To whom can you outsource XYZ? Do you really want to do XYZ for the right reasons?   BEST MOMENTS “I go a mile deep or more in my one Big Thing, rather than splash around in the shallows of many.”   VALUABLE RESOURCES Neil Cowmeadow - Weird Things Guitarists Do www.Neilcowmeadow.com   ABOUT THE HOST Neil Cowmeadow is a maverick peripatetic guitar teacher from Telford with over 19 years experience in the business of helping people. Learn how to start, grow and love your business with Neil’s invaluable advice and tips without the buzzwords and BS!   CONTACT METHOD [email protected]