You're aiming for market dominance. How can you balance short-term gains with long-term innovation?
Striving for market dominance means finding the sweet spot between immediate profits and future growth. Here's how to maintain that balance:
How do you balance short-term and long-term goals in your business strategy?
You're aiming for market dominance. How can you balance short-term gains with long-term innovation?
Striving for market dominance means finding the sweet spot between immediate profits and future growth. Here's how to maintain that balance:
How do you balance short-term and long-term goals in your business strategy?
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"Chasing short-term gains can feel like running on a treadmill—exhausting but stationary." Immediate profits are crucial, but they shouldn’t compromise your long-term trajectory. Jeff Bezos famously said, "If we can keep our competitors focused on us while we stay focused on the customer, ultimately we’ll turn out all right." Aligning short-term initiatives with customer-focused innovation ensures sustainable growth. Consider Tesla—they disrupted markets not by focusing on quarterly profits but by leading with bold, long-term innovation. Greatness comes from prioritizing the marathon over the sprint.
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Primero, asegúrate de mantener una base sólida de ingresos a corto plazo aprovechando las oportunidades de ventas cruzadas y campañas promocionales. Esto garantiza un flujo constante de capital. Simultáneamente, invierte en investigación y desarrollo para fomentar la innovación a largo plazo. Equilibra tus esfuerzos entre el presente y el futuro para dominar el mercado sin sacrificar la sostenibilidad. 🚀🌟
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Short-term gains are necessary for 𝙘𝙤𝙣𝙩𝙞𝙣𝙪𝙤𝙪𝙨 𝙞𝙢𝙥𝙧𝙤𝙫𝙚𝙢𝙚𝙣𝙩, but they don’t give companies a 𝙘𝙤𝙢𝙥𝙚𝙩𝙞𝙩𝙞𝙫𝙚 𝙚𝙙𝙜𝙚 or contribute much to profitability. It’s the risky “Big” projects and long-term innovation (new to the company or new to the world) that push the firm into adjacent markets or novel technologies and can generate the profits needed to close the gap between revenue forecasts and growth goals. I use a probability of failure scatterplot(new tech/new market), for short-term and long-term projects to visual development map and manage their balance.
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While striving for market dominance, try as much as possible to create top of mind awareness. Do not run ads for the short term only , consistently show up so that at whatever stage a customer's journey is, they'd always find you. Creating top of mind awareness then leads to profit making in the short run and community building in the long run. Having loyal fans who'd be very much please to stand by and market your product without much efforts is pleasant in the long run ; but remember competitions would come up, always strive to not be a generic name without sales.
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Vincent Bonnafous
Travail Heureux | 💌 La newsletter pour mettre votre job au service de vos rêves
(edited)Comme pour gravir un sommet en escalade. - Quel est l’objectif final et à quel horizon de temps ? - Ensuite il y a forcément des étapes intermédiaires à valider pour atteindre cet objectif. Chaque étape pourra constituer un sous-objectif court terme. - Chacun de ces sous-objectifs permet de bien évaluer le réalisme de l’objectif final. Ils peuvent être révisés, voire changés, s’ils ne permettent pas d’atteindre l’objectif final dans les temps. Procéder de la sorte permet de remporter les petites victoires, qui additionnées, concrétiseront l’atteinte de l’objectif final. Planification et adaptation.
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El equilibrio entre los objetivos a corto y largo plazo es un desafío constante que requiere visión estratégica y flexibilidad. Priorizar metas inmediatas sin perder de vista el propósito final garantiza avances sostenibles. La inversión en innovación y el fortalecimiento de operaciones actuales son pilares para mantener la competitividad. Reflexionar y adaptarse frente a los cambios asegura que el camino hacia el éxito no solo sea efectivo, sino también resiliente
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Innovation is not a magical thing leading to success if you try and believe hard enough. Instead, look at competitive environment, market trend short and long, business sizes etc. Balance short and long term based on environment and predictions of the future. Yes, long term can mean innovation, but does not have to.
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Define what market dominance in your sector/industry looks like. Understand where you're right now. Define your strategy to get from where you're now to where you want to be. Define KPIs and milestones and when you're expecting/wanting to hit those. Align operations along this path. Now, any short-term gains which simply happen as a result of following this path to dominance were planned for, and probably encoded as KPI or milestone. Short term *potential* gains which were unplanned for but which seem like an opportunity must be assessed on the basis of the strategy and their impact on it.
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