You are browsing the web, and you land on an idea that you think is very relevant to your business. The idea takes over your mind, you can’t stop thinking of it, you lose sense of reality, imagining the possibilities of what this could mean for your business, a sense of excitement embraces you, and you feel an urgent need to jump on this seemingly unique opportunity before anyone else nabs it and build it. You call for a quick ‘ASAP‘ meeting, run the idea through your team, reshuffle their priorities and project list to implement this idea immediately, leaving your team baffled and perplexed.
This common syndrome of excitement is among they key reasons many business people fail. This reactive mode of operation not only creates confusion among colleagues, but elevates the stress level and decreases the motivation in the team who seem to lack any sense of direction and purpose.
To avoid it, spend quality time to analyze your business needs well, articulate a very specific set of business choices (called your business strategy), then channel all your team effort and energy on those choices, and only on those choices. If the excitement remains, articulate the idea, drill yourself questions why this idea makes sense, sleep on it for a while, then, and only then take proper action. Don’t worry of giving yourself time to analyze it, no one will steal it, remember ideas alone are worthless, it is proper execution that matters.
Naturally, you need to remain nimble and flexible to adapt quickly to the market dynamics, and iterate your business accordingly, but beware of jumping on a seemingly exciting idea, out of excitement, without doing due diligence and assessing whether this idea really fits in your overall business strategy or not.
Don’t confuse passion and excitement. Passion can build your business, excitement can break it.