Tunnel Vision. It can be excellent for the times you need to focus on a particular task or project. However, if you focus all of your attention on your business you may well be missing out on opportunities and threats that are around to you.
For example, we recently helped a small business who was trying to gain a foothold in a relatively new market. The entrepreneur was SO focused on his own business plan and agenda that he did not realize a new crop of competitors had entered the market. Instead of being on the ball and seeing them as they entered, he was left behind and had to play catch up.
The client went from number 3 in a Google search to number 8 before he even realized it was happening. The result was a very steep hill to climb in an effort to catch up with the competition that he started out ahead of. This cost him not only time and money but also potentially cost him business in the time that was lost. He brought us on and we had to scramble to develop and implement a plan quickly.
So, the lesson learned is important. Keep your eyes on your business but keep your ears on your community and what is happening around you!