From local coffee shops to the largest Fortune 500 companies, everyone is struggling to make the impossible choice between chasing short-term objectives and creating a secure future for their company.
David Cote understood this dilemma and rejected it. In these pages, he shows you how taking the same revolutionary approach might be the smartest business decision you’ll ever make.
This book reveals the bold the operational reforms and counterintuitive leadership practices you can put into practice that will allow you to do two conflicting things at the same time—pursue strong short- and long-term results. This tested and proven approach can strengthen your business like never before, and even rescue it from the brink of disaster no matter how dire the current circumstances may seem.
In Winning Now, Winning Later, Cote shares 10 essential principles for winning today and tomorrow such as:
Spot practices that seem attractive in the short term but will cost the company in the futureDetermine where and how to invest in growth for maximum impactSustain both short-term performance and long-term investments even in challenging times, such as during recessions and leadership transitionsFeel inspired to stand up to investors and other managers who are solely focused on either short- or long-term objectivesStep back, think independently, and foster independent thinking among others around you
Presenting a comprehensive solution to a perennial problem, Winning Now, Winning Later is a go-to guide for you and leaders everywhere to finally transcend short-termism’s daily grind and leave an enduring legacy of success.
Cote, executive chairman of electrical equipment provider Vertiv Holdings, seeks to dispel the false dichotomy between quick revenue gains and long-term financial health in this usefully pragmatic but overly ego-driven study based in his former position as Honeywell CEO. Framing himself as the company's savior, he describes arriving in 2002 to find Honeywell foundering and himself surrounded by buffoons and incompetents. Cote lays out his strategy for turning the company around in 10 points, such as "take control of the downturns," in part by learning from past financial crises; "get and keep the right leaders but not too many of them"; and "go big on growth," in part by making careful use of metrics. The advice is both broadly applicable and grounded in specifics on metrics, he describes how a dictum to derive 50% of sales from new products might incentivize salespeople to simply reintroduce the "same old products with slight modifications." However, the near-glee with which he describes his former colleagues' foibles leaves the reader with the unsettling impression that his primary interest is in taking potshots at his former company. This vengeful tone detracts from the useful whole and results in a disappointing business guide.