Weigh short- and long-term outcomes
In considering a course of action, think through the potential short- and long-term impacts of your choice.
For example, suppose you're wondering whether to cut prices on a product line that has experienced declining sales. You realize that cutting prices may boost sales this month or this year. But in the long run, this move could hurt sales. How? Perhaps consumers would come to expect deep discounts on your company's offerings. Thus, they would hold off purchasing your products until you provide another discount. These delays could reduce sales over the long term. However, if boosting sales immediately is a high priority in your company, you may decide to trade off future sales increases for current sales increases.
By sharpening your awareness of the possible short- and long-term consequences of your choices, you can make smarter trade-offs.