Success comes in many forms, but whether it’s personal or professional – true success is almost always achieved by setting and maintaining long-term goals. In this episode of Influence by Design, we talk about how to create your long-term vision for lasting success.
Crafting a long-term vision for lasting success takes thought, intentionality, dedication, and focus. It involves understanding your values, goals, and dreams, and knowing what you want to create in the world. Developing this meaningful vision is one of the most important things you can do to set yourself up for sustained success.
But why long-term instead of short-term vision? Setting long-term goals gives you a better picture of what success looks like to you and outlines the steps it will take to get there. Long-term vision also makes it easier to stay motivated and on track, as well as tackle any obstacles that may arise along the way.
Creating your long-term vision might feel overwhelming at first, but it’s an essential part of living your life with purpose and achieving lasting success. In this episode, we break down how to create a long-term vision that resonates with who you want to be and what you want to accomplish in the world.
IN THIS EPISODE YOU’LL DISCOVER:
- Getting back to long-term thinking (02:41)
- The problem with short-term thinking (04:26)
- How to be better than you were yesterday (08:13)
- Creating sustainable competitive advantage (10:18)
- Building a strong company culture and vision (14:26)
- How to become more resilient and adaptive (17:43)
- Why you should create a 10-year vision (20:33)
QUOTES
- “We can’t motivate people, but we can inspire them to motivate themselves.” -Tim Hyde
- “It’s important to get back to long-term thinking so that we can put our business on the path to sustainable growth.” -Samantha Riley
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WHERE TO FIND TIM HYDE
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CONNECT WITH SAMANTHA RILEY
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TRANSCRIPTION
Tim Hyde Snippet 00:00:
It’s about, again, inspiring others, I don’t think we can motivate people, I think we can inspire them to motivate themselves. But it is around galvanizing a group of people around a particular direction and being able to articulate direction.
Samantha Riley Snippet 00:14:
Spend the time to think about what you want your life and your business to be like, in 10 years time. And who do you need to become to be that person today, because when that is top of mind, it is a lot easier to reverse engineer what needs to happen.
My name is Samantha Riley, and this is the podcast for experts who want to be the unapologetic leader in their industry. We’re going to share the latest business growth, marketing, and leadership strategies, as well as discussing how you can use your human design to create success in business and life. Inside and out. It’s time to take your influence, income, and impact to the level you know you’re capable of. Are you ready to make a bigger difference and scale up? This is the Influence By Design podcast.
Welcome to today’s episode of Influence By Design. I’m your Thursday co-host Samantha Riley and joined by my fabulous co-host today, Tim Hyde. How are you, Tim?
Tim Hyde 01:13
Ah, I am amazing. Thank you, Sam.
Samantha Riley 01:16
Well, that’s good. Because for a minute, I was like, Are you going to answer? Are you with me?
Tim Hyde 01:22
I just need to reflect on the gravity of the question that you asked me. I’m doing great. I’m doing
Samantha Riley 01:30
a crack up. So good to hear.
Tim Hyde 01:32
And I’m sorry, I’m pleased to say that you’re set up in your new home and new office, having recently had to find accommodation. I’m really, really short notice. Yeah,
Samantha Riley 01:42
absolutely. And it’s done and office is set up and feeling
Tim Hyde 01:46
great. Just looks like the last place, right?
Samantha Riley 01:49
Well, it’s because I know it looks like probably the last five because this is the how I like it to be set up. And I’ve set it up so many times. Now I know where it all goes
Tim Hyde 01:58
method to your genius. Right? Okay, so what are we gonna talk about today? Today, I want to talk about
Samantha Riley 02:03
long term thinking and long term strategy for sustained business growth. And the reason I think that it’s really, the time to be having this conversation is because at the beginning of 2020, we all had to completely change up what we’re doing, we left our long term visions, or push them to the side. And we completely went on short term thinking we needed to pivot we needed to move quickly, the landscape was changing every hour, if not every day, actually, every day, not just every hour. And, you know, we’ve come out the other side. And it’s really, really important to get back to that long term thinking so that we can put our business on the path to sustained business growth.
Tim Hyde 02:56
And sustainability is so super important for us. You know, the stuff that you talk about through COVID, we were very reactionary, we were very survival mode, we were very like, you know, heightened alert, panic, panic, panic, you know, I just need to do whatever I need to do to survive. And I we joked I think in a couple of episodes about the guide connected with on, on LinkedIn, pretty much in the beginning of March 2020, you and COVID was just the thing is I’m just gonna put my business on, on pause for a little while, while while this will just blow over in a couple of weeks, you know, you’re good. And I’ll get back to normal. But you’re absolutely right, you know that the more fire because we can have on this long term plan, the more likely this will be actually succeeding, continue to move that. And I’ve been watching as my son turns 17. Today, as we record this, a lot of things about the predictors of success in children. And one of those things is grit. And of course, grit is the ability to sacrifice short term benefit for long term benefit. And I think that really applies to business as well, the more we can sacrifice short term benefit for long term benefit, the more likely we are to achieve our goals.
Samantha Riley 04:07
Totally short, we were just talking short term thinking does get you quick wins. And we do need to mix this up in business. Because every now and again, we do need to get those quick wins on the board. We can’t just do everything long term, or everything short term, it doesn’t need to be balanced out. But when we’re constantly living in this short term, way of doing business, it can often lead to a lot of missed opportunities. It can lead to us having really detrimental consequences in the long run because we end up not where we’re wanting to be. And the other thing is that we can get caught in the like the dopamine hit of the short, the short term wins. And we get caught in these loops, where we’re constantly exactly what you were saying before constantly reactionary And the other thing, and this isn’t talked about very often is that you get caught constantly thinking, I’m too busy. So you never have that time put aside to give yourself the space to come up with a strategy or to come up with a new vision or, you know, to to immerse yourself in, in thinking, what, what if, and that’s really, really, really important as a business owner.
Tim Hyde 05:25
Yeah, we kind of get differently. I mean, the phrase is, we get caught in the weeds, right? We get caught in the weeds of the day to day we go to a conference, and the next day, we’re straight back into the weeds again, firefighting, whatever came up over the, over the last, you know, 24 hours or 48 hours, or whatever it happens to be. And unless we lift up ahead and say, Well, okay, that’s where I’m going. And even though I’m doing this right now, that’s where I want to be. That’s, I think that’s a really important thing about to keep coming back to what it is we do it. And you and I notice, and we talked about this a lot at the beginning of every year as well. That’s why we do the year end review, what worked, what didn’t work, what are we going to do differently next year? And, you know, theming, the current year, as well to go one of my? And if you haven’t done that yet, go and do it right now. All right, what am I working towards this year, so that all the activities that I do in the weeds are all aligned to where I want to go? Longer term? Because they don’t? You tend not to anyway? Absolutely. Whilst you might seem like lots of short term wins, and yes, I’ve done that, and I’ve done something else, you find it not actually aligned to actually towards that longer term vision about what you want for your business, and also for your life.
Samantha Riley 06:33
100%. So we’ve come up with three different areas to focus on as to why you would want this long term thinking. But I think before we even jump into them, I think it’s really important to think about before you sit down to do this long term strategy. Rather than think about what do I want to do? I think it’s really important to ask a better question, which is, who do I want to become? Because that starts to help you to think about if I am to become this person, or I am this person today, what needs to happen or what needs to change?
Tim Hyde 07:11
I’m gonna throw a little curveball at you. Love this curveballs. Awesome. Yeah, awesome. Who is that you want to become? Who
Samantha Riley 07:20
or who do I want to become? So I want to become someone that’s got a team that. So you know, I want over 100 in my team, because I want to become the person that changes that many people’s lives and make sure that there’s that many people putting food on the table for their children, being able to send their children to the school that they want to. I believe that when I can do that, then the flip side of that is to have 100 people on my team, I will already be impacting the amount of entrepreneurs and business owners, visionaries. changemakers that I want to be changing. So rather than focus on that, who do I want on my support staff to be able to get that to happen?
Tim Hyde 08:08
Let me go. I love it. Love it.
Samantha Riley 08:10
What about you, Tim? Who do you want
Tim Hyde 08:13
to come down? Yeah, exactly.
Samantha Riley 08:14
You’re the one that asked it, you open the loop, I have to close the loop.
Tim Hyde 08:19
Now gonna come up with something that’s like, you know, inspiring for all our listeners. I was gonna say like,
Samantha Riley 08:25
Actually, can I just say, Hang on before you say that the only person that needs to inspire is yourself.
Tim Hyde 08:31
Oh, was that profound? Something that we just have to be better than I was yesterday. Obviously gonna say influential, you know, world leader. But I think the same as you the thing that I see a lot as marketers, we don’t really do anything, right, the impact that of what it is that we create, is really filled through the RIP blur effect that we have on our clients and their staff and their families as well. Right? I’ve always been very much driven by this idea of better. Okay, better than better. Okay, and what is it that we can do to leave a better effect on the people whose lives we touch? On so very similar to yours?
Samantha Riley 09:18
Absolutely. And I think that, just listening to what you said, and and reflecting on what I said, it is so important to have this idea as a business owner, because the week to wake them up to month, the year to year is a roller coaster. And if you don’t have that big vision of why it’s important, it’s so easy to get off the roller coaster. It’s so easy to say I’m out. I don’t want to do this anymore. Because for all of the amazing wins and the reason that we do what we do, there are some awful things that we have to go through and things that we don’t enjoy. So it’s really important to keep our eye on that big vision.
Tim Hyde 09:59
Yeah, I like this one. It’s what gets you out of bed in the morning, right? And drives you to keep doing what you do through adversity.
Samantha Riley 10:05
Totally 100%.
Tim Hyde 10:07
Thank you. Thank you, Simon Sinek for that inspiring little bit of psychological insight,
Samantha Riley 10:12
but we’re surrounded by some amazing people in this world, right?
Tim Hyde 10:16
We are indeed, we are, indeed, number one for you. What do you think it is?
Samantha Riley 10:20
I think it’s building a sustainable competitive advantage. And this isn’t possible if we’re just really focusing on short term. But we need to focus on creating something that’s unique, something that’s constantly moving the needle and improving our products and services. Because there’s always going to be new things coming onto the market and new technologies, we’re only seeing the very beginning of what artificial intelligence is doing within the business world, this is going to, you know, ramp up at an exponential rate. So we need to be thinking about how can we improve our products, our services? How can we build lasting customer relationships? And that, you know, we really need to think about that right from the beginning. And think, what do we want this to look like in 10 years time, so that we can reverse engineer it? Rather than just thinking I need money in the bank in six weeks? What can I work together?
Tim Hyde 11:14
Yeah, I agree with you. And the key phrase that comes to mind for me here is innovation. How do we innovate in a way that gives us as I said, that sustainable competitive advantage, right? I used to joke used to, you know, and I watch, you know, Sam, I’m a big fan of Shark Tank, and Dragon’s Den and all those. I love that stuff. One of the inevitable questions they always ask is, do you have a patent for that? Because the patent is the protection for your all your competitive advantage. But I don’t view patents like that. One of the things that I view as competitive advantage is your ability to quickly innovate and adapt to the market. And to me, that’s the only competitive advantage that ever exists, how quickly you can read the market and how quickly you can adapt to what it is that your customers want and need from you.
Samantha Riley 12:07
I’m going to actually just pause it here for two seconds. Because this could be really interesting conversation in that I’m talking about building something that’s super sustainable. So thinking about, well, what do we want this to be in 10 years and reverse engineering it? And the difference between that and pivoting all the time? And what was coming to mind, as you were talking? Were the people that were book coaches that suddenly pivoted to being crypto coaches, to have suddenly all of a sudden pivoted to being experts in chat GPT, you know, the people I’m talking about, right? So what’s the difference? In your words, between pivoting and staying at the forefront? And completely, completely just going with the flow? Because to me, that’s short term thinking,
Tim Hyde 12:55
Yeah, this sort of thing, where I’m talking really is the ability to kind of focus on a market and adapt to what that market needs, not necessarily changing you, but changing, you know, around your, your ideal customer that you understand. And I think where we see the individuals that you’re talking about, you know, jumping between thing, two things, I think the thing is that really, you know, what comes across to me is, I don’t really know what I’m doing. And I’m just trying whatever comes up to, again, short term thinking, maybe, you know, I need to pay the mortgage this month, and therefore, I’ll launch a chat GPT course, the next quick back the next quick back and we see it when we’re surrounded by it all the time. Maybe you and I Sam, probably see it a lot more in our feeds than then you, our listener does. But my social media feed is literally chock full of here’s a new thing, here’s a new thing, here’s a new thing. Here’s a side hustle. If I see a different person told me about the same side hustle to sell T shirts, on Instagram, I am going to shoot myself. It’s almost as if the company’s gone and hired 15 different influencers to produce the same video, which is right, okay. And I love the idea of a side hustle. But we’re talking about that real understanding of the value proposition that you create for the market that you can serve with your company, not about trying 700 different things to different markets.
Samantha Riley 14:26
Totally, totally. So that’s number one. Number two, what would you say is number three?
Tim Hyde 14:31
I think number two, and this is something I’ve been really focused on lately, as I know you are always services never far from yours. And that’s around building a strong company culture. And I think this is absolutely critical to transition your business from a thing that you work in, right to a theme that you work on Kiyosaki talks about this in in his four quadrants in Rich Dad, Poor Dad going from having a job to owning a job to only business to ultimately kind of having investments around. And there’s an underpinning sort of idea of exits in that as well. How do you exit yourself out of your current role to work on a higher purpose. And I think unless you have a really strong company culture around this, you cannot achieve those exits,
Samantha Riley 15:18
I 100% agree, because the culture needs to be enough that your team will take ownership of the growth of your vision. So it’s not even your company, it’s the growth of your vision. And if they don’t understand what your vision is, they can’t action that they can’t buy into that and understand what it is they’re doing. I’ll give you a really great example of some good culture. I was speaking with my team this morning of it, we’re recording this on a Monday. And we always have a team meeting on a Monday. And one of the things that we were talking about and I’ve been hanging on about this till they’re they don’t there is a bleeding is I’m all about the systems and creating, you know, systems and processes. And this morning, we were coming or we were talking about how we can use artificial intelligence to create some of our systems so that the business is fully systemized. And I said, I know that you guys aren’t as excited about that as I am. And you know, that’s when everyone stopped went no, no, no, we’re as excited as you are. And we want to take this with both hands and, you know, implement what we’ve just talked about. That is great company culture, that my vision is then passed on to them. And they action that without any thing that’s
Tim Hyde 16:35
so critical that Ryan it is about, again, inspiring others, and I don’t think we can motivate people, I think we can inspire them to motivate themselves. But it is around, you know, galvanizing a group of people around a particular direction and being able to articulate direction. And I think there’s almost no, you maybe if you’re the sole operator, you can probably get away with not having it. But you know, if as soon as you get that first employee, I think it’s even critical when you’ve only got one employee or one VA in your team to kind of really articulate that on a monthly or quarterly basis to say, hey, just a quick reminder, this is where we’re going towards, you know, how can we as a team collaborate when we’ve got a collective responsibility for the success of this company? Because I’m employed by it as well. If we don’t, if I’m going towards it, and you’re not, and you’re just along for the journey for the paycheck, we won’t get there as quickly as if we go there together.
Samantha Riley 17:31
Totally. And I just want to go back, you said something that I really have loved so much. And that is that we can’t motivate our team, but we can influence them to motivate themselves. That was a value bomb right there.
Tim Hyde 17:45
Oh, shucks, it was good. We’re gonna quote that one.
Samantha Riley 17:50
That’s a quotable.
Tim Hyde 17:52
That’s incredible. I’m gonna put this out there. I’m gonna put that out there. You know, I think coming back to that purpose that we spoke about before, right? Who do you want to be? I’d love to be someone who’s quoted.
Samantha Riley 18:02
You were quoted, my team quotes you every single week. Did you know that
18:06
really, never told me that. It goes on social media. Every week. I say,
Tim Hyde 18:12
Oh, fuck.
Samantha Riley 18:19
Podcast marketing quotes you every week.
Tim Hyde 18:24
That’s not my quote. predates me.
Samantha Riley 18:30
Let’s move on. Alright, so we’ve talked about building sustainable competitive advantage, building a strong company culture. And number three is developing resilience. Because this is the ability to adapt to change. And I guess this does come back to what you were talking about, or we were talking about a lot in when we’re talking about competitive advantage, that we need to be able to adapt quickly, not necessarily completely flip our business model. But we do need to have to adapt to change. So that we, you know, have the resilience to withstand these challenges that are going to come up these unexpected events. And, you know, we need to be able to move forwards so that we can navigate these times and come out stronger on the other side.
Tim Hyde 19:16
You’re absolutely right. And I think it’s, it can be really minor things. Okay. So as I mentioned before, it’s my son’s birthday today, you turned 17. You know, my wife was putting together some party bags. And all of a sudden she said, Can you adapt your day to help me out this afternoon? Because I’m behind on some stuff came up. So sure, see, we can move a couple of minutes, right could be something as simple as that to a major illness or injury or something from a key staff member. I think you’re so right about that resilience to withstand changes and setbacks, right. And I couldn’t be just a little micro thing like, you know, someone’s canceled a meeting on you or you have to postpone something and because somebody else has come up and you have to help out with the kids birthday party, like I have to do this app. And then, you know, something is that you know, as simple and as small as that and how you adapt, but still keep that longer term vision in place, or a big right key staff member retires or resigns unexpectedly. These are things that happen as we move towards our journey, you know, whether they be personal events or business events that sort of can knock us around, we do need that resilience to sort of go, I know, this is not me back, but I’m still working towards, you know, this bigger vision.
Samantha Riley 20:33
Totally. So today, we’ve been talking a lot about long term visions. And I think that the thinking that I want to leave people with is to spend the time to think about what you want your life and your business to be like, in 10 years time. And who do you need to become to be that person today? Because when that is top of mind, it is a lot easier to reverse engineer what needs to happen, and start to think about what changes need to be made in my business right now to be able to achieve that 10 year vision, you know, what does my team need to look like? What mentors or coaches do I need to hire now? What technology needs to change your systems and processes? What product offering needs to change? There’s so many things that you can begin to think about, when you know where you’re heading.
Tim Hyde 21:21
I need to demonstrate that, you know, from a different perspective or so, yeah. What relationships and thinking do you need to let go of that, right? That’s all of us. No bites? They’re
Samantha Riley 21:32
absolutely. You’ve come out with some gold today, Tim, you’re on fire?
Tim Hyde 21:36
I am. I am indeed. I want to leave people today with the thought this is one of my favorite quotes from Bill Gates, actually. And He is credited with saying that people overestimate what they can do in one year, but underestimate what they can do in 10. And I think, you know, no question. He’s his business acumen. But looking at it, he would have absolutely had this, you know, 1020 30 Year Vision for Microsoft when he founded it. That was he was relentless in pursuing, build the culture and competitive advantage, and resilience around all the things that affected him in his life, to get to where he is today is one of the foremost business leaders of our age. Absolutely. You know, and if we keep on track of them, right, keep focused on the fact that you will underestimate what you can achieve in 10. And you will actually get further than you think you will.
Samantha Riley 22:30
Absolutely. We hope that you’ve enjoyed today’s episode and that it sparked some thoughts for you some thoughts that can take you into dreamland and dream about what it is that you want to achieve in your next 10 years. Thanks for listening and for joining us for another episode. We’ll catch you next Tuesday for another episode of Influence By Design. Ciao.
Thanks for joining me for this episode of the Influence By Design podcast. If you want more head over to influencebydesignpodcast.com for the show notes and links to today’s gifts and sponsors. And if you’re looking to connect with other experts who are growing and scaling their business to join us in the coaches, thought leaders, and changemakers community on Facebook, the links are waiting for you over at influencebydesignpodcast.com
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