{"id":4154,"date":"2020-07-23T14:56:34","date_gmt":"2020-07-23T20:56:34","guid":{"rendered":"https:\/\/memberpress.com\/?p=4154"},"modified":"2021-03-04T14:50:09","modified_gmt":"2021-03-04T21:50:09","slug":"beware-the-shiny-coin-syndrome","status":"publish","type":"post","link":"https:\/\/memberpress.com\/fr\/blog\/beware-the-shiny-coin-syndrome\/","title":{"rendered":"Beware the Shiny Coin Syndrome"},"content":{"rendered":"\n<p>Online business is always changing. There are always new techniques, systems, and emerging challenges you need to address to <a title=\"Start a Viable, Online Business with MemberPress\" href=\"https:\/\/memberpress.com\/2014\/05\/start-a-viable-online-business-with-memberpress\/\" target=\"_blank\" rel=\"noopener noreferrer\">keep your business running properly<\/a>.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 ez-toc-wrap-center counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<label for=\"ez-toc-cssicon-toggle-item-69b5b864342be\" class=\"ez-toc-cssicon-toggle-label\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">WHAT'S INSIDE<\/p>\n<span class=\"ez-toc-cssicon\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69b5b864342be\"  \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/memberpress.com\/fr\/blog\/beware-the-shiny-coin-syndrome\/#Staying_on_Target\" >Staying on Target<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/memberpress.com\/fr\/blog\/beware-the-shiny-coin-syndrome\/#Sometimes_You_can_Embrace_the_Shiny_Coin\" >Sometimes You can Embrace the Shiny Coin<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<p>Every day, hundreds of websites release countless numbers of articles bringing you exciting new strategies and <a href=\"https:\/\/memberpress.com\/blog\/memberpress-examples\/\" target=\"_blank\" rel=\"noreferrer noopener\" title=\"5 Compelling Membership Site Ideas\">business models<\/a> to tackle these obstacles and keep your business fresh and on track. These suggestions can be great reads, but sometimes they make life too complicated with a plethora of options or they distract you from seeing your existing projects through.<\/p>\n\n\n\n<p>I call these things \u201cshiny coins,\u201d and the tendency of some business owners to drop whatever they're doing to pursue them is the \u201cshiny coin syndrome.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Staying_on_Target\"><\/span>Staying on Target<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Businesses can take a long time and a lot of work to achieve success, which can be a serious problem if you have an <a title=\"5 Reasons Every Blogger Should Start a Membership Site\" href=\"https:\/\/memberpress.com\/2014\/05\/5-reasons-every-blogger-should-start-a-membership-site\/\" target=\"_blank\" rel=\"noopener noreferrer\">internet-based business like a membership site<\/a>.<\/p>\n\n\n\n<p>It can be easy to get depressed and feel like everyone else is doing better than you while you're spinning your wheels and never getting anywhere. Or worse, your business may not be doing well enough to support you, and you might have some serious urgency to \u201cturn things around.\u201d It's during these times that shiny coin syndrome is most likely to take hold.<\/p>\n\n\n\n<p>As a programmer, I've been susceptible to shiny coin syndrome myself, but I've taken steps to try to stay out of that rut. I've seen too many independent technologists and entrepreneurs fail in their businesses because they kept chasing the shiny coin without finishing what they'd already started.<\/p>\n\n\n\n<p>Sometimes, avoiding the shiny coin may involve sticking with a more tried and true methodology rather than running to the latest fad technology. It may also mean ignoring the advice of one of your favorite business gurus.<\/p>\n\n\n\n<p>One of the techniques I use to stay on target is to simply <a href=\"https:\/\/www.fastcompany.com\/3063392\/how-writing-to-do-lists-helps-your-brain-even-when-you-dont-comple\" target=\"_blank\" rel=\"noopener noreferrer\">keep a running list of new business ideas<\/a> that pop into my head while I\u2019m working. When I have an idea, I write it down and come back to it later instead of interrupting whatever I\u2019m working on.<\/p>\n\n\n\n<p>Once I\u2019ve finished my tasks for the day, I come back to my list and really hash out the latest idea in detail. I may even spend half a day on it. After spending a substantial amount of time fleshing things out with a clear head, I\u2019ll usually be able to determine how much time, effort, and expense it will realistically take and decide whether or not to pursue the idea.<\/p>\n\n\n\n<p>There\u2019s something about just getting my business ideas down on paper and out of my brain that really helps me to stay focused on the task at hand and keeps me from making rash decisions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sometimes_You_can_Embrace_the_Shiny_Coin\"><\/span>Sometimes You can Embrace the Shiny Coin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Sometimes it <em>is<\/em> okay to \u201cpivot\u201d your business, completely change what you're doing, or completely switch out your whole software system. Usually though, you should think very carefully before making such drastic changes. They can be very expensive and time consuming.<\/p>\n\n\n\n<p>Some reasons to make a big switch in your business could be if your system is running on obsolete technology and it's costing you too much time or money to maintain it, or if your business model just isn't working at all anymore.<\/p>\n\n\n\n<p>These are extreme but excellent reasons to consider making a grand change to the way your business operates. Consider whether the ROI (in terms of time, money, and effort) will be worth the hassle. Talk to your colleagues and clients, and see what they have to say on the matter before giving in to the allure of the shiny coin.<\/p>\n\n\n\n<p>There\u2019s nothing worse than taking a wad of cash and three month's time to solve a problem that nobody else sees. Or worse yet, to invest tons of time and effort in putting a band aid on the problem that only lasts for a month or two.<\/p>\n\n\n\n<p>Remember that there are a million and one ways to run a business, but that doesn\u2019t mean you need to try them all.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Online business is always changing. There are always new techniques, systems, and emerging challenges you need to address to keep your business running properly. Every day, hundreds of websites release countless numbers of articles bringing you exciting new strategies and business models to tackle these obstacles and keep your business fresh and on track. These [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":15223,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_strive_editorial_status":"not-started","_strive_copy_of":0,"inline_featured_image":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"content-sidebar","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","_strive_checklists":"\"\"","_strive_active_checklist":"62291e2bb2422","_strive_post_notes":"","footnotes":""},"categories":[69,144],"tags":[176,175,70,177],"class_list":{"0":"post-4154","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-advice","8":"category-business","9":"tag-distraction","10":"tag-internet-business","11":"tag-membership-site","12":"tag-shiny-coin","13":"entry"},"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- 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18:31:20","breadcrumb_settings":null,"limit_modified_date":false,"reviewed_by":null,"open_ai":null,"ai":null,"created":"2020-12-21 16:19:57","updated":"2026-03-03 15:09:10"},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t<a href=\"https:\/\/memberpress.com\/fr\" title=\"Home\">Home<\/a>\n<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t<a href=\"https:\/\/memberpress.com\/fr\/blog\/category\/advice\/\" title=\"Advice\">Advice<\/a>\n<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\tBeware the Shiny Coin Syndrome\n<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/memberpress.com\/fr"},{"label":"Advice","link":"https:\/\/memberpress.com\/fr\/blog\/category\/advice\/"},{"label":"Beware the Shiny Coin Syndrome","link":"https:\/\/memberpress.com\/fr\/blog\/beware-the-shiny-coin-syndrome\/"}],"app_bookmark":{"bookmark_id":0,"is_bookmarked":false,"bookmark_date":0},"comments_count":"0","content_native":[{"type":"core\/paragraph","render":"<p>Online business is always changing. There are always new techniques, systems, and emerging challenges you need to address to <a title=\"Start a Viable, Online Business with MemberPress\" href=\"https:\/\/memberpress.com\/2014\/05\/start-a-viable-online-business-with-memberpress\/\" target=\"_blank\" rel=\"noopener noreferrer\">keep your business running properly<\/a>.<\/p>","content":[{"type":"text","data":"Online business is always changing. There are always new techniques, systems, and emerging challenges you need to address to <a title=\"Start a Viable, Online Business with MemberPress\" href=\"https:\/\/memberpress.com\/2014\/05\/start-a-viable-online-business-with-memberpress\/\" target=\"_blank\" rel=\"noopener noreferrer\">keep your business running properly<\/a>."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/paragraph","render":"<p>Every day, hundreds of websites release countless numbers of articles bringing you exciting new strategies and <a href=\"https:\/\/memberpress.com\/blog\/memberpress-examples\/\" target=\"_blank\" rel=\"noreferrer noopener\" title=\"5 Compelling Membership Site Ideas\">business models<\/a> to tackle these obstacles and keep your business fresh and on track. These suggestions can be great reads, but sometimes they make life too complicated with a plethora of options or they distract you from seeing your existing projects through.<\/p>","content":[{"type":"text","data":"Every day, hundreds of websites release countless numbers of articles bringing you exciting new strategies and <a href=\"https:\/\/memberpress.com\/blog\/memberpress-examples\/\" target=\"_blank\" rel=\"noreferrer noopener\" title=\"5 Compelling Membership Site Ideas\">business models<\/a> to tackle these obstacles and keep your business fresh and on track. These suggestions can be great reads, but sometimes they make life too complicated with a plethora of options or they distract you from seeing your existing projects through."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/paragraph","render":"<p>I call these things \"shiny coins,\" and the tendency of some business owners to drop whatever they're doing to pursue them is the \"shiny coin syndrome.\"<\/p>","content":[{"type":"text","data":"I call these things \"shiny coins,\" and the tendency of some business owners to drop whatever they're doing to pursue them is the \"shiny coin syndrome.\""}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/heading","render":"<h2 class=\"wp-block-heading\">Staying on Target<\/h2>","content":"Staying on Target","data":[],"style":{"align":"left","parent_style":{},"header":"h2","fontSize":"27px"}},{"type":"core\/paragraph","render":"<p>Businesses can take a long time and a lot of work to achieve success, which can be a serious problem if you have an <a title=\"5 Reasons Every Blogger Should Start a Membership Site\" href=\"https:\/\/memberpress.com\/2014\/05\/5-reasons-every-blogger-should-start-a-membership-site\/\" target=\"_blank\" rel=\"noopener noreferrer\">internet-based business like a membership site<\/a>.<\/p>","content":[{"type":"text","data":"Businesses can take a long time and a lot of work to achieve success, which can be a serious problem if you have an <a title=\"5 Reasons Every Blogger Should Start a Membership Site\" href=\"https:\/\/memberpress.com\/2014\/05\/5-reasons-every-blogger-should-start-a-membership-site\/\" target=\"_blank\" rel=\"noopener noreferrer\">internet-based business like a membership site<\/a>."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/paragraph","render":"<p>It can be easy to get depressed and feel like everyone else is doing better than you while you're spinning your wheels and never getting anywhere. Or worse, your business may not be doing well enough to support you, and you might have some serious urgency to \"turn things around.\" It's during these times that shiny coin syndrome is most likely to take hold.<\/p>","content":[{"type":"text","data":"It can be easy to get depressed and feel like everyone else is doing better than you while you're spinning your wheels and never getting anywhere. Or worse, your business may not be doing well enough to support you, and you might have some serious urgency to \"turn things around.\" It's during these times that shiny coin syndrome is most likely to take hold."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/paragraph","render":"<p>As a programmer, I've been susceptible to shiny coin syndrome myself, but I've taken steps to try to stay out of that rut. I've seen too many independent technologists and entrepreneurs fail in their businesses because they kept chasing the shiny coin without finishing what they'd already started.<\/p>","content":[{"type":"text","data":"As a programmer, I've been susceptible to shiny coin syndrome myself, but I've taken steps to try to stay out of that rut. I've seen too many independent technologists and entrepreneurs fail in their businesses because they kept chasing the shiny coin without finishing what they'd already started."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/paragraph","render":"<p>Sometimes, avoiding the shiny coin may involve sticking with a more tried and true methodology rather than running to the latest fad technology. It may also mean ignoring the advice of one of your favorite business gurus.<\/p>","content":[{"type":"text","data":"Sometimes, avoiding the shiny coin may involve sticking with a more tried and true methodology rather than running to the latest fad technology. It may also mean ignoring the advice of one of your favorite business gurus."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/paragraph","render":"<p>One of the techniques I use to stay on target is to simply <a href=\"https:\/\/www.fastcompany.com\/3063392\/how-writing-to-do-lists-helps-your-brain-even-when-you-dont-comple\" target=\"_blank\" rel=\"noopener noreferrer\">keep a running list of new business ideas<\/a> that pop into my head while I\u2019m working. When I have an idea, I write it down and come back to it later instead of interrupting whatever I\u2019m working on.<\/p>","content":[{"type":"text","data":"One of the techniques I use to stay on target is to simply <a href=\"https:\/\/www.fastcompany.com\/3063392\/how-writing-to-do-lists-helps-your-brain-even-when-you-dont-comple\" target=\"_blank\" rel=\"noopener noreferrer\">keep a running list of new business ideas<\/a> that pop into my head while I\u2019m working. When I have an idea, I write it down and come back to it later instead of interrupting whatever I\u2019m working on."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/paragraph","render":"<p>Once I\u2019ve finished my tasks for the day, I come back to my list and really hash out the latest idea in detail. I may even spend half a day on it. After spending a substantial amount of time fleshing things out with a clear head, I\u2019ll usually be able to determine how much time, effort, and expense it will realistically take and decide whether or not to pursue the idea.<\/p>","content":[{"type":"text","data":"Once I\u2019ve finished my tasks for the day, I come back to my list and really hash out the latest idea in detail. I may even spend half a day on it. After spending a substantial amount of time fleshing things out with a clear head, I\u2019ll usually be able to determine how much time, effort, and expense it will realistically take and decide whether or not to pursue the idea."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/paragraph","render":"<p>There\u2019s something about just getting my business ideas down on paper and out of my brain that really helps me to stay focused on the task at hand and keeps me from making rash decisions.<\/p>","content":[{"type":"text","data":"There\u2019s something about just getting my business ideas down on paper and out of my brain that really helps me to stay focused on the task at hand and keeps me from making rash decisions."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/heading","render":"<h2 class=\"wp-block-heading\">Sometimes You can Embrace the Shiny Coin<\/h2>","content":"Sometimes You can Embrace the Shiny Coin","data":[],"style":{"align":"left","parent_style":{},"header":"h2","fontSize":"27px"}},{"type":"core\/paragraph","render":"<p>Sometimes it <em>is<\/em> okay to \"pivot\" your business, completely change what you're doing, or completely switch out your whole software system. Usually though, you should think very carefully before making such drastic changes. They can be very expensive and time consuming.<\/p>","content":[{"type":"text","data":"Sometimes it <em>is<\/em> okay to \"pivot\" your business, completely change what you're doing, or completely switch out your whole software system. Usually though, you should think very carefully before making such drastic changes. They can be very expensive and time consuming."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/paragraph","render":"<p>Some reasons to make a big switch in your business could be if your system is running on obsolete technology and it's costing you too much time or money to maintain it, or if your business model just isn't working at all anymore.<\/p>","content":[{"type":"text","data":"Some reasons to make a big switch in your business could be if your system is running on obsolete technology and it's costing you too much time or money to maintain it, or if your business model just isn't working at all anymore."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/paragraph","render":"<p>These are extreme but excellent reasons to consider making a grand change to the way your business operates. Consider whether the ROI (in terms of time, money, and effort) will be worth the hassle. Talk to your colleagues and clients, and see what they have to say on the matter before giving in to the allure of the shiny coin.<\/p>","content":[{"type":"text","data":"These are extreme but excellent reasons to consider making a grand change to the way your business operates. Consider whether the ROI (in terms of time, money, and effort) will be worth the hassle. Talk to your colleagues and clients, and see what they have to say on the matter before giving in to the allure of the shiny coin."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/paragraph","render":"<p>There\u2019s nothing worse than taking a wad of cash and three month's time to solve a problem that nobody else sees. Or worse yet, to invest tons of time and effort in putting a band aid on the problem that only lasts for a month or two.<\/p>","content":[{"type":"text","data":"There\u2019s nothing worse than taking a wad of cash and three month's time to solve a problem that nobody else sees. Or worse yet, to invest tons of time and effort in putting a band aid on the problem that only lasts for a month or two."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}},{"type":"core\/paragraph","render":"<p>Remember that there are a million and one ways to run a business, but that doesn\u2019t mean you need to try them all.<\/p>","content":[{"type":"text","data":"Remember that there are a million and one ways to run a business, but that doesn\u2019t mean you need to try them all."}],"data":[],"style":{"textAlign":"left","color":"","dropCap":false,"parent_style":{}}}],"app_access":{"can_access":true,"restrict_message":null},"_links":{"self":[{"href":"https:\/\/memberpress.com\/fr\/wp-json\/wp\/v2\/posts\/4154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/memberpress.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/memberpress.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/memberpress.com\/fr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/memberpress.com\/fr\/wp-json\/wp\/v2\/comments?post=4154"}],"version-history":[{"count":0,"href":"https:\/\/memberpress.com\/fr\/wp-json\/wp\/v2\/posts\/4154\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/memberpress.com\/fr\/wp-json\/wp\/v2\/media\/15223"}],"wp:attachment":[{"href":"https:\/\/memberpress.com\/fr\/wp-json\/wp\/v2\/media?parent=4154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/memberpress.com\/fr\/wp-json\/wp\/v2\/categories?post=4154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/memberpress.com\/fr\/wp-json\/wp\/v2\/tags?post=4154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}