Always consider the long-term consequences of your short-term decisions

An entrepreneur must have a long-term perspective.

Generally, a business is not built in a year. It could take five years. It could take 10 years. It depends on the type of business you’re building, as well as how big you want to build it. Beyond that, it depends on whether you want to sell it or keep active in it in some capacity.

Keeping a long-term perspective enables you to make better decisions today. Since today is all we have, it would be better to make good decisions today as opposed to poor decisions.

Making poor short-term decisions can impact the progress you make. For instance, loading up your credit card with a trip to Hawaii might seem like a good idea today. Having to pay for the trip when you get back might not be as much fun. It could negatively impact the financial future of your business.

I’m not suggesting entrepreneurs don’t need breaks. Far from it. At the rate most business owners work, I believe it’s important to take some vacation time every six to eight months. If you don’t have your health, you don’t have a business. And, if you have a fully systematized business that can run without you, then what in the world are you burning yourself out for?