Reilly Newman | As a business, it can be tempting to focus only on the present and disregard the long-term strategy. However, when a brand is shortsighted, it is setup for failure through its lack of farsighted strategy.
The Pitfalls of Myopic Thinking
Myopic thinking is having a narrow perspective and without concern for broader implications. Brand strategy is inherently long-term thinking, but sometimes the “business” and seemingly rational knee-jerk reactions will cripple a brand. A myopic approach to your business is the ultimate way to erode and destroy your brand because it forces the business to only focus on short-term results. A myopic view of a business will either come from a place of comfort or fear, or sometimes both.
Once a business finally gets “comfortable” then the fear of doing anything that risks any bit of comfort forces the business to only focus on the present. No planning. No vision. This lack of vision and creativity is rooted in the detached perspective of not projecting into the future. A myopic business has no sense of creativity as it has locked itself to the present, destroying not only future strategy, but also dissolving any imagination.
The Importance of Thinking Ahead
As we’ve covered before, reactions are very different than responses. A business who is thinking ahead will respond. A business who is shortsighted will react. Therefore, it’s crucial to think ahead and have a long-term strategy in place. When you have a long-term strategy, you’re prepared for any changes that may come along the way, both internal and external. When a business focuses only on the present, it’s missing out on potential opportunities that could help grow the business in the long run.
Think of it as a ship that has plotted a course to a far-off destination. When stormy seas come (and they will), it can loosely navigate the immediate wave crests while still staying on coarse. However, if a ship sets sail on an open ocean with no course plotted on its charts and encounters stormy seas, it can end up in a much different location or (worse) find that it was just moving in big circles and really going nowhere.
The Risks of Being A Myopic Brand
Being myopic doesn’t just destroy future strategy, but dissolves any imagination. A myopic business has no sense of creativity as it has locked itself to the present. This lack of vision and creativity is rooted in the detached perspective of not projecting into the future. Giving no room for creative thinking and imagining what the future could hold — because the business has a death grip on the present state. The grip is fortified with stress, worry, fear, and a scarce mindset.
Additionally, a myopic view neglects to consider the risk of being shortsighted. Although it is essential to stress the importance of creativity and vision, there are also big risks associated with being safe, comfortable, and stagnant. This vulnerability not only puts you at risk of internal erosion through atrophy or standing still, but also from external variables like competitors and market conditions. It’s important to remember that a business is like a shark. To feed, to breathe, to survive, the shark must keep swimming. Once the shark (or business) stops swimming, it starts dying. A myopic view would disregard this vital fact in efforts to play it safe and sacrifice the big picture.
The economy has proven time and time again that the businesses that succeed in their markets are the long-term players as well as those who adapt. Adaptation takes movement and is okay with being uncomfortable. This mindset compounds with time and proves the agility to survive competition as well as unexpected market shifts. A myopic view would sacrifice the big picture and disregard this vital fact in efforts to play it safe and be comfortable; even to the grave. In order for your business to weather the pending storms, having a non-myopic brand with a long-term strategy will allow you to effectively set your course and navigate to success no matter the seas ahead. After all, a smooth sea never made a skilled sailor.
