FOMO is the fear of missing out. It’s something we created in our society because we are conditioned to feel like we’re missing out on something awesome that other people are up to. The memes behind FOMO might be something new, but the pervasive attitude behind it has been a torpedo sinking many entrepreneurial ships for generations. And a better name for it might actually be FOGNF.
As entrepreneurs, we see an opportunity and we move in to solve a problem, or fulfill a need with our products and services.
We have an innate desire to seek out such opportunities, and in most cases, take extravagant risks in life and business to go far beyond our comfort zones, and reach for our dreams. It’s why we love those inspirational memes we see all over Facebook and Instagram.
But there’s a threat lurking deep within the very curiosity and nature that drove us to be entrepreneurs in the first place.
We have this fear of missing out on a better opportunity, on a new angle, on a bigger audience.
We have this fear that if we focus our business too narrowly, we will miss out on a great client in a broader audience.
We have a fear that if we say no to the various business opportunities, joint partnerships, or risky ventures that present themselves, we will be left on the sidelines while other entrepreneurs reap the benefits we refused.
Nothing could be further from the truth!
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I have never met an entrepreneur - or anyone for that matter - who attributes their success to starting one venture, and then ditching that idea whenever a shinier, newer idea presented itself.
No. Successful entrepreneurs have a singular, focused vision. A vision of the future they are working to create, and the step by step path they must take to achieve it.
But we’re attracted to the drama of entrepreneurship; the newness of a killer idea; the thrill of starting off on a path into unchartered territory; or the belief that some new venture someone else has presented to you is somehow more valid than your current core genius vision. And if you refuse it, you’re going to regret it for the rest of your life as you continue struggling in your old boring business, and they’re over here driving around in their Lambourghinis lighting cigars with hundred dollar bills.
Look, successful entrepreneurs typically achieve success by focusing their vision, creating an action plan, and committing to it day in and day out until finally, one day, they’re an overnight success.
They’re most certainly presented with other paths, other ventures, and new opportunities all the time. But they see them for what they really are - distractions.
As entrepreneurs, we need to forget about FOMO, and remember this one:
Fear of Getting Nowhere Fast.
Well, it’s not as catchy as FOMO, I’ll admit that. But FOMO is a meme that nobody actually suffers from. FOGNF will literally destroy your life and career.
You can spend a lifetime jumping from one path and idea to another. Yeah, one might hit and be a jackpot, but that’s a huge risk.
Successful entrepreneurs stay focused. When an opportunity arises to distract from their vision, they listen to their gut.