Management Tip of the Day: Don't Sacrifice Long-Term Growth Just to Hit Your Forecast

Are you having trouble viewing this email? If so, click here to see it in a web browser. HOME   |   TIPS   |   BLOGS   |   THE MAGAZINE   |   BOOKS   |   STORE RSS   |   Mobile DECEMBER 12, 2012 Don't Sacrifice Long-Term Growth Just to Hit Your Forecast When you realize the forecasts you set for the quarter or year are simply not attainable, it's tempting to act drastically. But be careful how you meet your targets. Here are three tips for taking action without losing track of your long-term goals: Maintain your capacity to grow. Your first instinct may be to slash investments that offer no near-term payoff. Cuts can boost short-term profits, but they can also inhibit a company's ability to hit longer-term growth objectives. Don't rush ideas. Accelerating early-stage innovative ideas to plug a near-term gap can lead to an even bigger gap if those ideas collapse. Avoid trying to cover operational issues with not-ready-for-prime-time ideas. Do more with less. The short-term pressure likely means less investment in innovation. But remember that scarcity can sometimes force helpful creativity. Today's Management Tip was adapted from "Three Tips for Leaders About to Miss Their Forecasts" by Scott Anthony. Read the full post and join the discussion » Share Today's Tip: FEATURED PRODUCT Improving Productivity A Harvard ManageMentor Skill Pack Improving productivity is more than just a matter of working faster; it's about accomplishing more with limited resources. This hands-on Harvard ManageMentor online skill pack includes tips, tools, and tactical advice on four essential management topics to help you get the most out of your time and your team. The Improving Productivity Skill Pack provides "how to" action steps, and interactive exercises that help prepare you for real-world challenges; and presents information in a quick-scan format that is easy to use and readily accessible on your desktop. Save more than 35% off the individual component modules when you purchase this specially-priced set. One-year single user license. ADVERTISEMENT Follow the Tip: PREVIOUS TIPS Before a Big Presentation, Brainstorm Quit Your Job, for Real This Time Don't Be a Bad Boss The One Person Every Network Needs Be Assertive While Being Yourself Motivate Disgruntled Employees Use "Returnships" to Bring in Fresh Talent What You Can Do To Prevent Layoffs Keep Your To-Do List Fresh with the 3-Day Rule Delegate, Delegate, Delegate All Previous Tips BEST SELLERS HBR's 10 Must Reads: The Essentials HBR's 10 Must Reads Library Set Guide to Persuasive Presentations Guide to Better Business Writing Guide to Getting the Right Work Done Introducing Mobile ManageMentor Powered by the proven content of Harvard ManageMentor™ iTunes >> Android >> UNSUBSCRIBE   |   UPDATE YOUR PROFILE   |   MORE EMAIL NEWSLETTERS   |   PRIVACY POLICY Was this email forwarded to you? If so, sign up to start receiving your own copy. ABOUT THIS MAILING LIST You have received this message because you subscribed to the "Management Tip of the Day" email newsletter from Harvard Business Review. If at any point you wish to remove yourself from this list, change your email address, or sign up for other email newsletters and alerts, please visit the Harvard Business Review Email Newsletter Preference Center. OPT OUT If you do not wish to receive any email messages from Harvard Business Review, click here. ADVERTISE WITH HBR This enewsletter is read by thousands of decision makers every day. Learn more about connecting your brand with this audience. Copyright © 2012 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing | 60 Harvard Way | Boston, MA 02163 Customer Service: 800-545-7685 (+1-617-783-7600 outside the U.S. and Canada)