FOMO in business is real and annoying
Pretty sure almost everyone has heard of the notion of FOMO (Fear Of Missing Out) already. It has become mainstream since the crypto boom and it has probably been the main fuel for the common investors in the market so far.
To put it in plain terms: more and more people started hearing about others getting rich(er) with Bitcoin or NFT (or other new shiny opportunity). Investing of such type became widely accessible so many have rushed to do it themselves because they thought they would miss out on an amazing “get rich easily” scheme if they wouldn’t.
On a different level, FOMO happens to entrepreneurs too. Not necessarily with investments, but with everything that keeps coming our way on a daily basis.
Lately I’ve been seeing loads of ads to new ways of growing a business. The idea for these ads is simple: usually there’s a bloke with a [insert expensive item here: luxurious house, expensive car etc.] in the background trying to sell you the best strategy that would boost your business and grow it tenfold without even trying too hard.
You call bulls**t on it but it still gets to you in a subtle way. It never goes away. The question is still there: “Did it really work for them and I’m actually missing on something?”. And that’s where the seed of FOMO is planted.
You scroll past 50 of these ads in a week and at some point one is bound to grab your attention and quite possible to hook you in as a buyer. I’m not saying they’re all wrong and these tools/strategies/funnels don’t work. It’s just that we get bombarded with them and it makes us feel like we’re not doing enough or we’re not doing the right thing for our business.
The Social Media Bubble
We tend to follow leaders on social media and that in time creates a bubble of successful people around us. Then our view becomes obstructed by this wall of accomplishment.
The mechanism of these platforms is to push thought leaders in our feed. While they get validated by thousands of likes we might end up thinking we haven’t done enough to get there. Our mind might tell us we can make it too but we don’t really realise that these leaders have worked hard and for longer to get at that level.
Out of all this it emerges a constant state of frenzy where people double down on work just because their Facebook/LinkedIn/Twitter bubble makes them feel like they’re missing out on success. For some it might even work out and this constitutes as fuel for their ambition. But for others it can lead to burn-out.
Is Social Media “Fasting” A Solution?
Quite possible! We can black out the river of information that comes our way and focus on our business without distractions. Does it have to be permanent? No, I don’t think so.
As entrepreneurs we still want to stay ahead of trends and still have to be connected with our communities. But we have to do it on our terms. So yes, take a break from social media. And hit that “I don’t want to see this type of ad again” button.