In the long run we are all dead

Right now there is an attack on the short term. Investors, company executives, buyers, and virtually everyone else are warned to look far ahead and ignore the short term. It’s too flighty, doesn’t give an accurate view, and short-termism is dangerous in the long run.

While I am not advocating completely ignoring the future, it would be crazy to ignore what is going on now and in the near future. Looking ahead could stop you from taking advantages of opportunities that quickly present themselves. And, focusing on the future could be disastrous–by the time you get there, everything would have changed.

I don’t know how many times buyers were told that they should pay more to ensure that their suppliers would still be in existence in the future. Didn’t the suppliers care that they were putting their buyers at risk in the near term. And who is to say that the suppliers should even be around in the future?

The world has become more dynamic, yes more short term, and so say differently is just dumb.

I once worked for a company that did five-year plans EVERY YEAR. We would spend six months working on this completely useless document. Almost as soon as it was written it would out of date. The world and the market had changed, but we continued to do it.

Planning is a process, not a long-term answer.

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