If the short-term decisions you make damage the long term, you should resist those. But there are many short-term decisions that you need to make to be a successful manager.
Focus on the long term, and always do what's right to grow the company and not make short-term decisions. And outlast everyone one.
Being captive to quarterly earnings isn't consistent with long-term value creation. This pressure and the short term focus of equity markets make it difficult for a public company to invest for long-term success, and tend to force company leaders to sacrifice long-term results to protect current earnings.
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.
The dominance of short-term perspectives has led to routine decisions in the markets that sacrifice the long-term buildup of genuine value in pursuit of artificial, short-term gains.
I want to take a long-term view. Being distracted by short term things can be dangerous when you are making cold, calm, long-term decisions.
I understand that fans think short-term, and there's nothing wrong with that. You live or you die in the short term. But I believe in our system, and when you do that, you don't make knee-jerk decisions.
Positive defaults align our short-term decisions with our long-term interests. And we don't always do that.
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.
We don't really look at the stock, you know? Because for us, it's about the long term. And so we're very much focused on long-term shareholder value but not the short-term kind of stuff.
Sometimes the manager must perform with the courage and agility of a circus performer, carefully crossing the highwire between short-term problems and long-term objectives.
But obviously, we can't afford to make some bad long-term decisions with regard to basic commitments our country has - trade those away for some short-term assistance that may or may not be there a month from now.
Good decisions can have bad short-term outcomes but be great for the business long-term.
One of many strengths that I often see in successful women on Wall Street is a responsible balance between risk taking and risk mitigation - the ability to assess situations smartly and make the right medium-to-long-term decisions without being lured into reckless, short-term profit-taking.
In the short term, it would make me happy to go play outside. In the long term, it would make me happier to do well at school and become successful. But in the VERY long term, I know which will make better memories.
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.