Think long term if you want to prosper in business
In 1977 while filming the Star Wars, George Lucas took a pay cut of $500,000 as a director in exchange for full ownership of the franchise's merchandising rights.
By 2012 the first six films had generated approximately $20 billion in merchandising revenue.
Ask many what's your two years plan? They'll struggle to put something together. Ask them their five year plan they'll look at you with utter shock.
Ask them what's your 10 years plan? They'll laugh their heads off. Ask them what's your 20 year plan? They look at you with this "you must be crazy" look.
When I tell people about our companies' 20 year plan that's clearly written on paper they think I am crazy.
Why? Because most people don't think long term. It just doesn't cross their mind that 10 or 20 years from now they'll still be around and maybe with greater responsibilities that come with growing up/older.
A lot of the things most of us do are centred around today's needs. I call it "mere ya leero" mentality.
Of course it's important that you secure what you'll eat today once that's done think of what you'll eat next week, then next month, then next year and in 10 years from now.
Don't think and plan for every day as it comes for the next 10 years. Your view of things must go beyond today's needs only.
Plant greens that take a month, then beans that take three months, then bananas that take a year, coffee that takes two years and trees that take five years plus and you'll be covered for today and a long time to come.
Don't just think about how much you are earning today but also what you could be earning in the next 4-10 years. That's the mindset lacking in most of us. That's the mindset we have to cultivate. The ability to look into the future at take risks based on that future.
Jaluum Herberts Luwizza is a Speaker,Writer and a business Columnist with the Nile Post. He is also a Business Consultant at YOUNG TREP East Africa's No.1 Business Management and Consultancy firm that helps people start and grow profitable businesses.
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