As a reader of Businessweek, I usually start from the back. That’s where Jack and Suzy Welch answer questions from the readers. In the June 30th publication, there is a quote from the Welch’s that hits upon a recurring theme of mine, and I’d like to share it. They talk about the challenge of balancing future requirements with current requirements. Here’s what they have to say:

… Because, in our opinion, one of the fundamental tenets of management is that you have to eat while you dream, meaning, you have to make money in the short term while you invest for the long. Any dope can do one or the other. To keep the cash flowing, simply squeeze everyone and everything you’ve got. The same goes for strategy. Just tell everyone to buzz off — you’re busy envisioning the future. The challenge of leadership is balancing today’s needs with tomorrow’s opportunities.

Tomorrow’s opportunities need to be balanced with today’s needs. There’s no formula here, and notice where he says that opportunity lies: in the future. Many use the word “enough” to describe this relationship favoring the present over the future, but “balance” is more appropriate as it doesn’t favor either the present or the future. It’s situational as it should be, and overly favoring the present sacrifices opportunity. Who can afford that? Finally, it’s the essence of good leadership. Here’s the article: “While Coporate Europe Fiddles…“