In my last blog entry, I wrote about the need to focus as a project manager in a small company. Extending that train of thought, I want to muse about what I call the “Shiny Object” syndrome.
It’s very easy for an entire small company to fall prey to the shiny object syndrome … to shift focus from a committed plan by expending scarce resources on “a great idea” or “a potentially fantastic new deal.”
When a company has limited resources there is great risk to accomplishing agreed upon initiatives by investing time and energy in off-target projects and deals. Those off-target distractions may very well have tremendous potential, but if it means not remaining focused on committed tasks, there is huge risk of churn and effective incapacitation. With limited resources, failing to stay the course through to completion of committed tasks is a recipe for failure.
No doubt, the dynamic nature of business conditions can obviate an established plan. However, without a deliberate decision regarding the continued investment in a committed plan, the diversion of resources from that plan to chase the next shiny object is a form of self-inflicted sabotage.
I firmly believe that any small business that cannot keep the discipline needed to stay on course; that constantly chases the next shiny object at the expense of current commitments, is doomed to fail.
What’s the solution? Aside from a degree of self-discipline, from individuals and the team as a group, there is a way to limit the shiny object syndrome. The team … whether a product team or senior management … must adopt a review process whereby all potential changes in direction, all new opportunities, and all “shiny objects” must be formally reviewed. That process can be simple and short. There are a few simple questions that can be asked, the answers to which will provide the basis for making a decision.
- What is the potential benefit of the shiny object?
- Revenue?
- Strategic positioning?
- Tactical positioning?
- Timeframe?
- Does the shiny object extend an existing element of the corporate/product/service strategy or is this an entirely new area?
- What capacity do the existing team members have to take on another project?
- Does the team have the proper skill sets to take on the new project?
- Can existing projects and deliverables be safely delayed to take on this new project in parallel?
- What is the impact to customers, partners, and revenue of any extension of projects and deliverables?
- Can the company afford the above impacts?
- What is the actual impact to schedules, taking into account the impacts of context switching?
- Are any prior commitments being eliminated? If yes, what is the impact of such an elimination?
- Can the company bring in additional resources to support the new project?
- Would such resources be available? In a timely manner?
- What reallocation of resources would be required to balance the team(s) to support the existing and new projects?
- What would the impact of recruiting and training be on the existing projects?
Ultimately, any decision regarding a shift of attention to a shiny object should be made with the answers to these questions in mind. There is no guarantee the correct decision will be made, and emotion often is a major factor. However, without having assessed the impact, the pursuit of the shiny object is an invitation to failure.