Let Me Be Wrong In the Short-Term, But I Must Be Right in the Long-term

Someone shared a 2007 Forbes Cover and the title was; “Nokia: One Billion Customers-Can Anyone Catch the Cellphone King?” Goodness, it’s just a decade later and where is Nokia? I had to pause in my tracks and I realised that a lot has changed in a decade. Nokia is not the leader anymore, in fact, it is nowhere.

I thought to myself; “how many things are we going to be wrong about 10 years later?” Many things. Many think they are right in this moment, but for goodness sake, 10 years is going to shock them. That space of a decade is going to prove many wrong. And I don’t want to be in those circles. That’s why I am deep down betting on things that don’t change no matter what. It doesn’t take a lot of intelligence to notice what won’t change.

I tell my friends that I don’t care about being wrong for the next 5 years, 10 years. But one thing I am certain about, after a decade, I won’t be wrong. I could be wrong in the short-term. But I am going to be right in the long-term. I bet on the long-term. I try not to spend time on things that won’t hold 10 years from now. That’s why I don’t really chase trends. I chase the principles that make those trends. At the core of it, what’s the driver of the trend? What is at the core of marketing? That’s where I am betting my time.

Everyone can go about the newest trick to making money, the fastest way to get this or that. That’s okay, but what’s the underlying principle? That’s where I want to spend my time. I don’t network. I don’t go to networking events. I focus on creating and churning out value. And I have realised I achieve the goal of networking by doing this. The people I would have struggled to meet, I end up attracting because of the value I churn out.

So where are you betting? On the short term or the long term?