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Eric Schmidt, the former CEO of Google, has a compelling perspective on strategy that challenges conventional wisdom. Many strategies are often framed around short-term goals, typically focusing on what can be achieved in 18 months. However, Schmidt believes that the most effective strategies take a longer view—stretching out to 10 years or more. This long-term vision allows businesses to adapt and evolve, ensuring they remain relevant in a rapidly changing world.
The Reality of Change: A Decade in Review
To illustrate his point, Schmidt encourages us to reflect on how much technology has transformed in just the last decade. For example, look at the evolution of mobile phones. The smartphones of today are vastly different from those of just ten years ago, showcasing the pace of innovation and change. This shift is a reminder that while we may overestimate what can be achieved in a year and a half, we often underestimate the profound changes that can occur over ten years.
The Five-Year Plan: A Guide for Success
Schmidt advocates for a strategic approach that incorporates a five-year plan—not only for businesses but also for personal growth. This plan serves as a roadmap, helping to navigate the complexities of both the market and individual career paths. By envisioning where you want to be in five years, you can make informed decisions today that align with your long-term goals.
Embrace Curiosity and Challenge the Status Quo
Another vital lesson from Schmidt’s experience at Google is the importance of curiosity. He urges individuals to remain curious and question the status quo. This mindset was embodied by Google’s founders, Larry Page and Sergey Brin, who consistently challenged traditional business norms. Their willingness to think outside the box has not only fueled Google's innovation but also fostered an environment where creativity thrives.
Conclusion: Think Long, Act Bold
In conclusion, Eric Schmidt’s insights remind us that successful strategy is about looking beyond immediate results and embracing a long-term vision. By adopting a five-year plan and maintaining a curious attitude, we can better navigate the complexities of our professional journeys. As Schmidt shows us, the ability to adapt, evolve, and innovate is the key to thriving in a fast-paced world. So, let’s take a page from his book and start thinking long to act bold!
Listen to Eric Schmidt:
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