97% of leaders identified strategic thinking as a key to their organization’s success.
Yet, 96% said they don’t have time to do strategic thinking.
Dorie Clark
It is easy to think and act short-term. When you feel the present moment and base a decision on what feels good for you right now, you can say that you live in the moment.
At the same time, you might neglect long-term consequences of your current decision. Maybe because you don’t want to think of the future.
Maybe because you subconsciously sense the negative aspects of your decision.
Maybe just because you have not practiced to think differently.
What does thinking long-term mean?
Long-term can mean different durations, depending on the topic and your environment. Generally speaking, it implies imagining a future which is hard to predict. It includes making abstract predictions, making assumptions, weighing in probability and risk factors.
Sometimes long-term is a five-year plan. Sometimes it means imagining yourself as a 100-year old, even if you are 20 today.
What is the benefit of thinking long-term?
Thinking long-term first of all increases your general life satisfaction, since impulsive decision-making - which you might judge as wrong after a while - is reduced.
It is also a career booster. The higher you want to climb that career ladder or the more responsibility you want to take over, the more strategic tasks will be part of your daily business.
It gives you financial security and freedom. While saving money by not buying or investing impulsively, you will generally make more sensible money decisions and benefit in the short and long term. The short-term fun might be reduced, but that is fake comfort anyhow.
Your credibility will increase and people will trust you more than before. Long-term thinkers often enjoy high trustworthiness since people recognize similar decision-making patterns over the years and know that you are predictable and have integrity.
Don’t confuse long-term thinking with overthinking. When thinking long term, you envision future consequences, but still dare to take the best decision possible. When overthinking you think the same thoughts over and over, avoiding to go into the real action mode.
How to develop long-term thinking
A long-term approach is linked to your mindset and behavior.
The following questions can help you switch from a short-term approach to a long-term way of thinking:
Would I decide the same way in three years?
How will I feel about today’s decision in 20 years?
What would X (a person you look up to) recommend to me?
Should I go with the masses or dare to pick my very own way?
What are immediate positive effects and what might be long-term negative outcomes?
What are immediate negative effects and what might be long-term positive outcomes?
Am I taking an emotional decision while justifying it with reasoning?
If you have never reflected on this topic before, choose one area which seems rather simple to you. Then observe your mindset, your behavior, and the consequences of your choices over a couple of weeks.
Don’t expect yourself to become long-term thinking over night. Instead, practice as often as possible. Be gentle with yourself when you don’t match your expectations immediately, but don’t lose yourself in lame excuses when moving back to impulsive decision-making too often.
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