I agree with most of what's been said above, and I'd like to add a bit of my thoughts too.
Misdirection is a
very powerful tactic, but I almost feel that it isn't named very accurately. It's almost more of a
redirection than misdirection, you move their focus, but don't get rid of it entirely. But, some easy tips to mis/redirect their attention are:
1. Using their name!
I can't stress the importance of this enough. Have you ever had the experience where you're in a crowded or loud place with a lot of conversations, but you've noticed when someone said your name? This relates to magic in a similar way - your name is something that can instantly grab attention, as you're so aware of its' use.
2. Talk to them!
If you say nothing, they will have nothing to go off of besides what's in your hands. Good communication negates this. Questions and specific comments work best in these cases.
3. Patience!
Wait for the offbeat to do what is necessary, don't worry too much about how long it takes. If you can hold a genuine conversation, it shouldn't be too hard. Take a page out of Max Malini's book, and be willing to wait.
4. The Easy Way
self-working tricks

It's as simple as that haha!