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FocusI’m a huge fan of bright shiny objects.  Bright shiny objects are anything that takes our attention away from the task at hand.   My problem is not finding enough things to do, my problem is focusing on the job at hand without getting sidetracked onto other projects where I try to multi-task. 

If we can learn to focus on one thing at a time, the enterprise value of our business can improve.  On a personal basis we might find that focus provides us with more time to do what we think is important.  I find that multi-tasking doesn’t work and in today’s world that focus becomes more difficult all of the time.

I tell Clients on a regular basis that they need to limit what they work on and only concentrate on areas that can provide high returns for them.  And, when they are working on a particular area, close other windows on your computer and only concentrate on one task at a time.

This means no peaking at your in-box while in the middle of some work or looking up that favorite band with a new album while you’re in the middle of a phone call.  If we can manage to concentrate on the task at hand, we’re much more effective and efficient.  The amount of work that we get done goes up by a dramatic amount and we can schedule time for bright shiny objects.

For some, the idea of concentrating on one thing at a time feels punitive.  For others the reaction might be duh, what’s so earths shattering about that.  The point is that many entrepreneurs and private business owners often feel a time crunch for getting important projects done.  In fact, in many cases important never get started because owners spend so much time working on urgent activities in their business.

Tasks that aren’t reacting to a problem are the ones that we “should” spend a lot of time on.  We end up spending a great deal of time not on should, but on must or we’re in deep trouble.

I’m curious where you are on the spectrum and what your thoughts are.  Please send me your comments to jpatrick@stage2planning.com.

Josh Patrick

For those who own a private business I’ve put together a Stage 3 Exit Readiness Report I would like you to have.  This personalized and complimentary report will help you understand the strong and weak points in your company.  It also might help to move your from those bright shiny objects to the important areas of your business to concentrate on.  To get this report click on the button below.

Stage 3 Exit Readiness

Securities and Investment Advisory Services offered through NFP Securities, Inc. (NFPSI), Member FINRA/SIPC. Stage 2 Planning Partners and NFPSI are not affiliated.

This article is published for residents of the United States only.  Registered Representatives and Investment Adviser Representatives of NFP Securities, Inc. may only conduct business with residents of the states and jurisdictions in which they are properly registered.  Therefore, a response to a request for information may be delayed.  Not all of the products and services referenced on this site are available in every state and through every representative or advisor listed.

Topics: value creation, financial planning, enterprise value, value enhancement

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