Think In Decade Increments

Mike Wittmeyer and Kendall Saville share insights about long-term thinking in business, particularly during challenging times. They emphasize the importance of maintaining perspective and not getting caught up in daily fluctuations, instead focusing on longer time horizons.

Key Points:

• Long-term Perspective:

  • Think in 5-10 year increments rather than day-to-day
  • Very few events will materially change your trajectory over 5-10 years
  • Helps maintain emotional stability during business challenges

• Crisis Management:

  • Don't overreact to immediate setbacks
  • Example: When their credit card processor dropped them, losing half their revenue, they maintained focus on long-term solution
  • Short-term problems often have solutions if you maintain perspective

• Market Timing:

  • Down markets are opportunities to play offense
  • During crypto winter, they saw opportunity to acquire businesses while others were fearful
  • Focus on fundamentals rather than market sentiment

• Decision Making:

  • Avoid making decisions based on temporary circumstances
  • Look for partners who share long-term conviction
  • Example: Selling Milk Road during crypto winter to partners with long-term vision

• Business Growth:

  • Don't get too high on good days or too low on bad days
  • Focus on building sustainable advantages over time
  • Short-term metrics can be misleading about true business health

• Investment Philosophy:

  • Hold through ups and downs if fundamentals remain strong
  • Example: Kendall holding Bitcoin since 2013 through multiple cycles
  • Conviction in long-term thesis matters more than short-term price action