Stop magpie syndrome in your financial planning firm

At Melo, we’re masters of change. Shaking things up from time to time can be a good thing… sometimes it’s essential.

When we start working with a new firm, we carry out our Business Effectiveness Review, which is an objective, independent assessment of how the business operates. It’s designed to help business owners take a step back, see the bigger picture and gain clarity on the areas that need attention in order to meet their goals.

From the insights we gather, we create a personalised action plan that sets out the steps we believe will strengthen the business. This provides a clear direction and a strong foundation for growth.

Of course, once that plan is in place, the temptation can be to keep chasing new ideas and making changes, especially when exciting opportunities pop up. While innovation is important, too much change can be a nightmare for any business. That’s where keeping “magpie syndrome” in check becomes essential. Here’s why…

1. Every change has a cost… even the good ones

The entrepreneur and best-selling author, Alex Hormozi says every change drops productivity by at least 20%, even if it’s a great one.

Because change creates drag:
🧠 Mental overhead
📝 Learning curves
🚧 Process rewrites
😵‍💫 Confusion, mistakes, inefficiencies

Most leaders ignore the transition cost. They focus only on the dream outcome. And wonder why results dip in the short term.

2. Don’t change anything unless you’re 50% sure it’ll deliver a 50% gain

You need a high bar for change. Not a hunch.
Not “this might work”.
Not “I saw this on LinkedIn”.

If you’re not confident that the change will deliver a big result -it’s not worth the chaos it’ll create.

Otherwise, you’re not optimising.
You’re tinkering.

3. Fix the old before chasing the new

Most firms don’t need a new idea.
They need to execute the existing one better.

Instead of launching a new service, fix the onboarding.
Instead of buying new software, use what you’ve got properly.
Instead of chasing a different niche, deliver better value to the one you’ve already got.

Reinvention feels exciting. But repeatable action is what actually scales.

4. Magpie leaders don’t create breakthroughs, they create burnout

Constant change does one thing: it fries your team.

It leads to:
• Lower productivity.
• Higher stress.
• More failed initiatives.
• Wasted time and money.
• People quitting (or quietly quitting).

Change fatigue is real and too many leaders mistake energy for progress.

5. Real progress = boring consistency

The best firms don’t change everything.
They execute the fundamentals with ruthless consistency.

That’s where scale comes from.
Not new ideas.
Not big reveals.
Just better delivery, over and over again.

So, when you find yourself drawn to a shiny new idea, ask yourself:

✔️Do I have a high level of confidence that the change will deliver what I want it to?
✔️Will the potential long-term benefits outweigh any short-term productivity loss?
✔️Could my time and money be better spent fixing an existing problem?
✔️Can my team cope with the demands of the change?

☎️Get in touch

If you’re constantly jumping from one exciting new idea to the next, it might be time to step back from your business and reassess your priorities.

Our Business Effectiveness Review could help you see things as they really are. In just five days, you’ll know exactly what your business is doing well and what needs a little work. We can then help you to plan structured change that sticks.

To find out more, drop us an email at hello@melo.co.uk or call us on 0113 4656 111.

I’m ready to Get in Touch