The Value of Long-Term Thinking

People are focused on the short-term by nature. It kept our prehistoric ancestors focused on the important things, keeping us safe from predators.

And despite our abilities to think ahead, short-term thinking persists today. This is because long-term thinking is easier to believe in than to accomplish.

Morgan Housel, a renowned investor and author, observes that while many understand the importance of long-term strategies in investing, careers, relationships, and anything that compounds over time, the execution of this concept is akin to scaling Mount Everest. It requires more than just intent—it demands a profound shift in mindset and unwavering commitment.

Despite the allure of immediate gratification in our modern, fast-paced world, embracing a long-term focus while also protecting the short term has so many advantages. With everything you do, there are disproportionate returns in the long run. There are many reasons for this. One being that big goals are usually impossible in the short term. Your health won’t improve overnight, building a successful business will often take you far longer than you would have anticipated, the list goes on.

Billy Oppenheimer, writer and research assistant to author Ryan Holiday, recently shared about his experience with author Robert Greene. At one point in their time together Robert shared with Billy that he had over 20 research assistants and none had been as good as Ryan Holiday. When Billy asked why, Robert responded with: “Some didn’t grasp the spirit of the material I look for. Some couldn’t discern what’s interesting from what isn’t. Some melted like an ice cube in the sun at the first piece of criticism. Some weren’t interested in boredom. It’s a dividing line between people who are successful and people who are not.” Robert explained further, “Mastery requires boredom and tedium. It requires doing the same things over and over. It requires sitting with the frustration of putting in work that doesn’t immediately. pay off. It requires sitting with the uncertainty of, am I going to spend sixteen hours reading this biography only to discover there’s nothing in it I can use? You have to be able to sit with boredom.”

Whatever you’re working towards, you will be much more likely to succeed when you commit to your goals no matter how long it takes and regardless of what comes up.

Jamie Kern Lima, founder of billion dollar cosmetics brand experienced years of rejection before she eventually went on to build her incredible business. But she believed in herself and the beauty of what she was creating and kept going despite the length of time it took. She explains, “When you google my story, you see Denny’s waitress built billion-dollar empire, you see the highlight reel.” But the rags to riches story doesn’t paint the full picture. Kern Lima experienced years of rejection, setbacks and was down to her last $1,000 at one point before her “fairytale” success. One male investor told her that he didn’t believe women would buy makeup from someone who looked like her, “with her body and weight.” She explains, “That one hurt, I went to the car and cried.” QVC declined to sell IT Cosmetics for three years and Sephora said no for six years. Today both sell the brand. “Learning how to not take rejection personal, it’s so critical,” Kern Lima says.

We see this story so often.

“It took me 17 years and 114 days to become an overnight success.” Lionel Messi

The book, "Go Long: Why Long-Term Thinking is Your Best Short-Term Strategy," underscores the significance of CEOs adopting long-term strategies over the often-distracting focus on immediate results. Industry leaders, like Elon Musk, Warren Buffett, and Jeff Bezos, have exemplified the power of long-term thinking, consistently outperforming by nurturing visionary ideas and strategies.

Take Elon Musk who wants to live on Mars, one of the most long-term initiatives anyone could work on. Jeff Bezos’ strong commitment to the long-term is highlighted in his letter to Amazon shareholders from 1997 when the company went public, it’s a manifesto about the benefits and approaches to long term thinking. And, Warren Buffet famously said, ⁠“The stock market is a device to transfer money from the 'impatient' to the 'patient'.”

Let's break down some key insights that can empower you to embrace the long-term approach and propel your professional growth:

1) The Long Run is a Collection of Short Runs

Recognize that the long-term is not a distant and separate destination. It's an accumulation of countless short-term actions and decisions. Each step you take today, every choice you make, contributes to the broader trajectory of your journey. This perspective illuminates the significance of consistent, purposeful actions over time.

2) Belief Alone Isn't Enough

While your belief in the long-term vision is vital, it's essential to enlist the support and alignment of others—investors, colleagues, partners, friends. Their commitment to the long-term journey amplifies the impact and helps navigate challenges along the way. A shared vision strengthens resilience.

3) Patience: A Key Ingredient

Patience, often perceived as mere waiting, is a potent force in achieving long-term success. It's more than being calm in the face of time; it's a steadfast dedication to the process, a commitment to enduring and evolving. Patience is not just about enduring delays; it's about embracing the journey, understanding that growth takes time.

4) Flexibility and Adaptability

Long-term thinking isn't confined to rigid plans with fixed time horizons. It thrives on flexibility, adaptability, and responsiveness to changing circumstances. The ability to pivot, innovate, and adjust course while staying true to your core values and vision enhances your effectiveness in the long run.

As you journey towards long-term success, remember the words of Lionel Messi, who spent years crafting his skills before becoming an "overnight success." The challenge lies in protecting the short-term while pursuing the long-term—a delicate balance that requires thoughtful consideration.

Equip yourself with a growth mindset knowing that obstacles, rejections and “failures” are simply stepping stones on your path to success, stay committed to your long-term goals, protect the short-term without compromising the bigger picture, and embrace the learning process along the way. The value of long-term thinking extends beyond the business world—it enriches relationships, health, personal growth, and every meaningful aspect of life.

In the wise words of Seth Godin, "There's always someone more willing to play the short-term game, but there's plenty of room to win as someone who takes a longer view." Make the choice to be the one with the long-term vision, and watch the transformative impact on your professional growth and overall fulfilment.⁠

#LongTermMindset #UnleashYourPotential #ProfessionalGrowth