A Quote by Mindy Grossman
Fear is not a motivating factor. You might be able to get a little bit more out of someone in the short term, but you will completely erode your business and your culture in the long term. You're going to lose all your good people. You're not going to have people tell you the truth, and it becomes the tradition.
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If you see your company culture as a family, you don't want to fire someone just because their short-term performance is not good. If you do, even the people on your team who are excellent performers will look at what's going on and say, 'Someday you might fire me too.' You'll lose everyone's trust.
People always say be true to yourself. But that’s misleading, because there are two selves. There’s your short term self, and there’s your long term self. And if you’re only true to your short term self, your long term self slowly decays.
The most important thing that a company can do in the midst of this economic turmoil is to not lose sight of the long-term perspective. Don't confuse the short-term crises with the long-term trends. Amidst all of these short-term change are some fundamental structural transformations happening in the economy, and the best way to stay in business is to not allow the short-term distractions to cause you to ignore what is happening in the long term.
Being able to go to work every day with such a good friend - especially in this business where your jobs are short, the turnover's fast, and you're working all the time with so many different people, and there's so many different projects going on that the odds are that you could actually book something that hopefully, knock on wood, is a long-term job with one of your best friends - is too good to be true.
The thing that I learned early on is you really need to set goals in your life, both short-term and long-term, just like you do in business. Having that long-term goal will enable you to have a plan on how to achieve it.
With my eyes closed, I ask if she knows how this will all turn out. "Long-term or short-term?" she asks. Both. "Long-term," she says, "we're all going to die. Then our bodies will rot. No surprise there. Short-term, we're going to live happily ever after." Really? "Really," she says. "So don't sweat it.
The thing that I learned early on is you really need to set goals in your life, both short-term and long-term, just like you do in business. Having that long-term goal will enable you to have a plan on how to achieve it. We apply these skills in business, yet when it comes to ourselves, we rarely apply them.
Unless you invest in people, you are not going to see growth in the long term, the medium term, and maybe even the short term.
You cannot ignore or completely escape the deeply ingrained short-term reward system within you. But you can become aware of what really motivates you and then tweak your incentives to sustain your long-term pursuits.
Over the long term, despite significant drops from time to time, stocks (especially an intelligently selected stock portfolio) will be one of your best investment options. The trick is to GET to the long term. Think in terms of 5 years, 10 years and longer. Do your planning and asset allocation ahead of time. Choose a portion of your assets to invest in the stock market - and stick with it! Yes, the bad times will come, but over the truly long term, the good times will win out - and I hope the lessons from 2008 will help get you there to enjoy them.
Like I tell people they wind up having short term pleasure and long term pain. I'm a tell what Minister Louis Farrakhan said, "Black people ain't poor, they just don't spend wisely" and that's the truth.
When you start with why, which decision you make becomes very easy. It is so hard to do when you may suffer a short term loss or you may lose out on some short term gain. But in the long run it's way more powerful and way more stable.
Business is all about learning to balance the short-term, medium-term and long-term and I think it's when things are going well it covers up a lot of mistakes and bad decisions because you're growing so quickly.
If studies come out and show that playing football is detrimental to your health for the long term, even for the short term, I think that's up to the players then to make the decision about whether they're going to play or not play.
Cash - in savings accounts, short-term CDs or money market deposits - is great for an emergency fund. But to fulfill a long-term investment goal like funding your retirement, consider buying stocks. The more distant your financial target, the longer inflation will gnaw at the purchasing power of your money.
In some ways, you do lose a bit of freedom but as you get older, you might realize that you've met someone pretty cool - maybe a soulmate - so you're getting released from the endless pursuit of going out and trying to meet new people. So now you get to put your energy into building something that's longer lasting and a bit more meaningful.
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