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Can Long-Term Thinking Help Your Business?
As time passes, business strategy and planning should improve to an extent where you can apply long-term thinking that will skyrocket your ROI (return on investment).
The investment may vary from an economical type of investment, or you can invest your time in improving your learning curve, thus acquiring experience that will drive your business goals to a multitude of opportunities.
In order to reap the benefits of your investment and properly apply long-term thinking, getting the proper knowledge to generate your experience and skills is crucial. I have encountered numerous business creators. Trust me, a regular human can barely even understand how they speak, act, and are involved in the daily habits that helped them run their business.
This is why only a minor percentage of people can become CEOs or captains of a sports team. It is also essential to note that only a negligible portion of people came out alive from a deadly disease – the strongest will always win! Once you achieve such a win, you can utilize all the pain and suffering and transform it into beyond-price long-term thinking to help you succeed with your business.
Why do we need to dive into long-term thinking and self-improvement?
By working with a myriad of experts worldwide on self-improvement and leadership skills, I have concluded that long-term thinking is practically insufficient. People are mainly occupied with short-term goals while not paying attention to their profound dreams and visions.
A long-term strategy is essential, and having a board that understands and spends time on how to apply long-term thinking in order to develop a plan is vital.
Here is one little secret that I apply to my routine. Instead of focusing only on quarterly targets, assemble and execute long-term strategies to develop substantial development, more appointments, and better shareholder rewards. That being said, everyone can have a goal, but not everyone will be able to construct a system to reach that goal.
Long-term thinking vs. short-term thinking
With so many comfortable things in reach, many people decide to live their life for pleasure without knowing that this kind of life won’t make them better.
Any business or even personal goal should dwell on a long-term strategy. You can easily separate long-term to short-term thinking by simply following what people ask themselves. Short-term thinking examples:
- What is the quickest way to make more money this year?
- What is the best way of increasing the company’s leads this quarter?
- What is the shortest road to pump my muscles this month?
- What type of food should I avoid today so that my belly won’t be bulked tomorrow?
On the other side, applying long-term thinking requires a more in-depth rationalization, i.e., getting out of your comfort zone is the first thing to do to initiate long-term thinking. Long-term thinking examples:
- What can we do regarding the impact of climate change?
- What should I do to make the world a better living place?
- Where will we be able to terraform and inhabit the nearest Earth-like planet?
- How do I start the self-improvement process that will guide me to a successful lifespan?
Comparing long-term thinking with short-term thinking is like comparing a growth mindset to a fixed mindset.
A growth mindset in business means that people believe in intelligence as the ability to gain knowledge and learn to improve their skillset. Consistency is the key, as they continue to see numerous obstacles on their road to success. The procedure’s natural part is to improve while holding to your growth mindset.
A fixed mindset means that people see intelligence as a God’s gift to certain people and that only this kind of person can succeed in life – which is very wrong and is defining of a victim mentality. Let me get this straight to you; a fixed mindset can be found in over 90% of the population! Yeah, you read that right.
A fixed mindset is what society prefers, so you won’t be able to stick to your Cloud Nine plans. A fixed mindset means that society will always try to put you down and make you one of them – a victim, a person without any business value.
Toxic people may surround you, or your working environment may drain your energy. It starts with diminishing your virtue and gaining the complaining mentality – just like the 90 percenters. Once you notice this, stop immediately and look around you.
How to shift from short-term thinking to long-term thinking
The most important thing to outcast short-term thinking and dive into long-term thinking is to be aware of the fact that if you identify yourself with more tenets of short-term thinking, it doesn’t indicate that you will fail.
You may need more time to recover from the victim mentality. Still, if you set your aims and propagate a system to execute your visions, then you are on the right path to success – as applying long-term thinking requires a little bit of extra effort to shift the victim paradigm and start the paradigm of passion and desire.
Victims do not handle business – it is handled by people who align their goals and fuel them up with others who already have put the long-term thinking ahead.
The best way to outline long-term thinking and apply it is to start with your health to improve healthy habits.
Let’s say you need to mold yourself – build muscles or lose weight. You will definitely need more time to do that since long-term thinking says you need to be consistent while the time will pass anyway.
Short-term thinking, on the other hand, says that you can build your body within a year, and you will have the same muscles for the rest of your life if you stop practicing.
Long-Term Thinking Means
Long-term thinking means considering the impact of decisions on all stakeholders involved, not just focusing on immediate gains. While it may require more patience and perseverance, long-term thinking is your best short-term management strategy for achieving sustained success. By prioritizing the long-term success of your products and services, you can foster long-term growth and innovation within your organization. Rather than chasing quick wins, long-term thinking allows you to make decisions that will benefit your long-term business goals and vision.
Long-term thinking also involves long-term planning and considering the longer-term implications of your actions. It requires a long-term mindset and a focus on the long-term vision of your organization. While short-term strategies may yield immediate results, long-term thinking is often more beneficial in the long run. Amazon’s success can be attributed to its commitment to long-term investments in r&d and innovation, rather than solely focusing on short-term gains.
Here’s the thing – a long-term approach can provide 5 benefits for your organization: 1) Sustainable growth 2) Enhanced customer satisfaction 3) Competitive advantage 4) Increased employee engagement 5) Positive reputation in the market. By adopting a long-term mindset and thinking and planning for the future, you can set your business up for long-term success and sustainability in a rapidly changing market.
Conclusion
Everyone needs to apply long-term thinking. I am not saying that everyone will be successful in 1 or 5 years – it may take even more like 10 or 20 or even 30 years to achieve what you aim at. The top 3 pillars to apply long-term thinking are:
- Curiosity
- Independence
- Resilience
Push hard and try your best to enjoy exponential growth in the years (or decades) to come. Almost anything is possible in business if you are willing to do challenging things daily.
While short-term thinking will lead your path in a short time, remember that (in the long run), it is crucial to apply long-term thinking in business to broaden our perspective because our actions echo in eternity.
