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How can i/we stop chasing after new ideas?

Discussion in 'General Entrepreneur Discussion' started by ManlyMansNegator, Feb 22, 2019.

  1. ManlyMansNegator
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    ManlyMansNegator Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Does anyone get the rush of excitement right at the advent of a new idea?

    It is as if you are a hundred percent sure it will work in a dazzling display of awesomeness!

    BUT!

    After a few days the euphoria dies down. Like a lover in a sexless marriage you begin looking for the next hype, the next "fix".

    In fact I believe a lot of us love the thrill of a new "chase" it almost becomes addictive in nature. The new people

    the glazed look as you imagine the possibilities

    The feverous jabbering to everyone you know.


    The most talented of us are the da'vincis while most are horribly broke.

    So, my question is if anyone has any advice to counter this.


    P.S: I reckon I have opened 3-5 buisnesses (A STRETCH OF A NAME) in a few months chasing this euphoria.
     
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  2. RazorCut
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    RazorCut Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Shiny Object Syndrome can be difficult to overcome, (I went through the same issue several years ago). It is especially problematic when you develop the mind to see opportunities at every corner.

    You need to tell yourself that you will follow your best idea to its ultimate conclusion and only then, if things don't work out, will you look at other opportunities. This takes some willpower and focus. You need to calm the mind. You might find meditation helpful.
     
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  3. ManlyMansNegator
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    ManlyMansNegator Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    hmmm meditation sounds interesting , will begin tomorrow starting from 3 minutes and going up.

    When do you know it has reached its ultimate conclusion?
     
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  4. TonyStark
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    TonyStark I'm not dead yet Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    You climax.
     
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  5. 404profound
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    404profound Gold Contributor I've Read UNSCRIPTED Speedway Pass

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    Once you have validated an idea within a market it becomes easy to ignore others. You will develop confidence that high-level execution will result in profit. This confidence is the key to calming the mind. Before I started the pursuit of my current idea I would jump from one idea to the next at the slightest whim of doubt. It wasn't just shiny object syndrome; it was a lack of belief in my ability to create value on the selected route. In contrast, I am now the master of my own fate, and my fate is determined exclusively by my willingness to follow through on execution of my plan. That is the difference between a drifter and someone who mean business.
     
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  6. rwhyan
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    rwhyan Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Quotes from UNSCRIPTED page 324 and 325:

    In response to "Marketmind Silence":
    MJ goes on to explain how to evaluate your Channel, Reach, and Message.

    Further...
    You may want to look into reading "The Dip" by Seth Godin. I thought a lot of the book was a lot of fluff and not that helpful, but it is a quick read and might help you gain a better understanding of when to "quit."
     
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  7. RazorCut
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    RazorCut Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    The business idea will either be a success or it won’t. You have to give it your all. If by then you can’t gain traction and you can’t pivot what you have built then eventually the only conclusion will be back to the drawing board.

    The trouble is too many entrepreneurs drop an idea in favour of something else long before it’s reached a conclusion simply due to thinking the grass is greener elsewhere. I always smile when I see @MTF avatar as it’s a good reminder.
     
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  8. 404profound
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    404profound Gold Contributor I've Read UNSCRIPTED Speedway Pass

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    His avatar makes me cringe haha!
     
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  9. RazorCut
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    RazorCut Platinum Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    lol why’s that?
     
  10. 404profound
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    404profound Gold Contributor I've Read UNSCRIPTED Speedway Pass

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    That poor fella who turned away just moments before finding the Hope diamond!
     
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  11. nyc217
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    nyc217 Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    LOL, I was in that position not too long ago, and I made a mental shift that might be helpful for you.

    I could say something plain and simple, STOP CHASING that feeling of "newness". Every single passion or feeling of eurphoria will eventually fizzle out.

    But more importantly, along with the other great answers from other members, I think it's also best to ask questions that will uncover the real reason if the simple answer is to simple.
    • By taking action like this, the way you have been, what results have you gotten and can you expect any different if you continue?
    • Is this manifesting in other areas of your life? It was for me. Example, start new workout program, see some jacked youtuber, and do what they do.
    • Have you ever been past the desert of desertion? If you did get past and got a product/service in the marketplace, did you get customers? If you got paying customers for one idea, why move onto the next?
    • Why not commit to yourself and/or the forum, regardless of outcome, I am going to develop this product/service until I get it in front of marketplace for feedback?
    • Huge, huge deal, apply what is in Unscripted. MJ does an AMAZING job exposing bullshit, beliefs, and for me the biggest one, biases. Apply that!
    There are a million other questions you could ask yourself; hope this helps!
     
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  12. Thoelt53
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    Thoelt53 Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I think most people who venture into business will experience Shiny Object Syndrome (SOS) in the beginning. You don’t know what you’re doing, and you probably have doubts and hesitations.

    I’ve experienced SOS and continue to, although I’ve gotten a lot better at managing it. For me I think a large contributing factor is self doubt, which manifests itself as a lack of belief in the the business. Other ideas start to appear more appealing, so you move onto something else with more confidence. As you venture into this new endeavor, self doubt rears its head again and the cycle repeats.

    MJ and many forum members preach “get the first sale.” I do believe that this is the best cure for SOS. Getting the first sale gives you the confidence and belief that your business can work. Further sales reinforce this newfound confidence resulting in a new cycle toward continued success.
     
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  13. Ernman
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    Ernman Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Powerful the shiny object is...once you start down the shiny object path forever will it rule your destiny. ( if MJ was Yoda)
     
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  14. LiveEntrepreneur
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    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I get the feeling I sort of have this problem. My idea I am working on now, at first I was somewhat excited and I always think how cool it is to own a company and stuff like that. Now that I am doing the actual work (well I think it is) it's not that exciting. Convincing people to use your product. And there is a part of me that says to start an Amazon Ecommerce store because I love the idea of selling items, but I get the feeling the same thing will happen. The process is the same, I need to sell my idea, market it, etc. So I try to stick to one thing.

    I've done this for other stuff like share investing, I thought I want to be a long-term value investor, I read a ton of books, then when it came to doing the work I was bored out of my mind and couldn't see my self doing it. Then onto the next thing, I guess its about having discipline.
     
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  15. ManlyMansNegator
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    ManlyMansNegator Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Yep, I think its the dopamine rush we are chasing after!

    Alright, I will force myself to stay in my next venture for at least 6 months!
     
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  16. LiveEntrepreneur
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    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I am trying to follow the rule of work on a project for at least 1 year. I did that for my app, followed advice from people on my first post. Though if I get another fail, I get more impatient, 4 years has past and my accomplishments aren't getting much higher. That what gives me that feeling of "I've got to do (insert idea here)", its the fear of missing out and I guess shiny object syndrome. I just ignore it but when I don't have any results it makes me want to change to something.
     
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  17. ManlyMansNegator
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    ManlyMansNegator Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Building Apps are a part of a business, have you tried using the lean startup model?
     
  18. Flybye
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    Flybye Bronze Contributor

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    It could also be a form of ADD and not so much the glam of starting a new adventure. My uncle is like this. He can't sit still in one business and ends up jumping from one to the next and is always trying to change something even if it doesn't need change.

    Ever think about what you can do to get the same rush with the current project? Perhaps set yourself up with difficult long term goals, or baby small ones if you need immediate satisfaction.

    I still get giggly and full of euphoria every time I make a sale. :smile2:
     
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  19. LiveEntrepreneur
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    LiveEntrepreneur Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Yep I am trying that. It is actually the mosy logical to me. U are doin more practical market research vs theory. I think it beats surveys. Because you can't make a customer pull out theur wallet with a survey for example.
     
  20. ManlyMansNegator
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    ManlyMansNegator Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Just test it out, force yourself to work on one genre of a project for at least 6 months.

    Pivot only realistically but don't restart from scratch, tag me in your thread and we will hold each other accountable.
     
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  21. NMdad
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    NMdad Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Shiny object syndrome is most attractive during the desert of desertion, when things are hard and you're not getting any payoff (i.e., soft or hard validation).

    So, what do you need to do to get to the first sale?

    How fast can you get through the "no's" so you can get a "yes"?
     
  22. lejus
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    lejus Contributor Read Millionaire Fastlane

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    This is excellent and within my interest. When would you guys say it's SOS and when is it side hustle? Is there anything like side hustle ever? Or is every side hustle always SOS?
     
  23. Emilio_90
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    Emilio_90 New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    It happens to me every day the SOS syndrome. I think it's the first step in changing your mindset (finding solutions rather than excuses). Now you give me to powerfull tools:
    - Meditation
    - Taste the market
    Sometimes I feel overwhelmed about that. We are not multi tasking animals unfortunally...
     
  24. Strm
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    Strm Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER

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    Definitely. I've noticed lately that all my ideas are actually quick solutions. I haven't been focusing on needs or providing value, but just jumping from one idea to another. What is weird in all of this, is it's sometimes so overwhelming I feel like quitting while I've never even started! Looking for events, not processes.. Working my a$$ off in my slowlane job, and actually I like to work hard and do a good job. I have strong work ethics when it comes to jobs, but I've never implemented this in my OWN life and "ideas". :(
     
  25. MitchM
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    MitchM Act. Then Adapt. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    IMO this is the simplest and best guide on meditation from Sam Harris.

    Simply epic

    I think a big problem is most people don't actually go through market validation. You don't have to fully develop a business to get the validation that you need.

    What you need to do is go to the market, figure out their problem, and solve it. After that find a way of delivering an MVP to the market and have people pay for it through organic methods (reach people through Facebook etc.)

    Now, of course, not all businesses can use this method - but many can - and I think it's unfortunate how many people spend months or even years developing a business for imaginary customers.
     
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