The Long Con. The Long Game. Strategizing and Planning. In our day and age we are not very prone to such things. We are looking for the quick return, the most bang for the buck.
But failing to see the long game and planning appropriately will have drastic side effects on our business endeavors. How so?
Well, consider today this article about the infrastructure of the U.S. In it, the authors detail how the U.S. is failing in the long game by not investing in its overall infrastructure. Yes, up front the investment in road repairs, transportation and communication systems may seem like a lot. However, it’s the long-term benefit that must be kept in mind when thinking through these issues.
What is the benefit now if so much money goes in to the initial infrastructure? Have a look at the long game:
Neglecting infrastructure now increases the cost of repairs in the future, both because there will be more damage and because the cost of borrowing money will probably rise. Interest rates aren’t likely to stay so low for long, and the federal government is considering restricting states’ ability to issue tax-exempt bonds. Meanwhile, competing budget pressures will probably intensify. As of now, 74 percent of the liabilities that states owe are unfunded retirement benefits, according to the Standard and Poor’s report.
Note the author’s reasoning: things are simply going to get harder and more expensive as time progresses. That’s always the case, now isn’t it? Now think about your own business.
Are there things in your own business that you have been neglecting due to cost, management, and planning constraints. Now ask yourself this: will those constraints ever really be alleviated? Probably not. In fact, they will most assuredly be compounded.
So then, why put off tomorrow what can be done now for the sake of the future? Something to think about.
[sc:mbtc]
