Investment is the act of putting money, time, or effort for future benefits or advantages.
Tyranny of the Urgent
A business classic called Tyranny of the Urgent, published by Charles Hummel in the 1960s. Hummel argued that very often, the urgent wins over things that are important.
A simple example in the office, boss's request wins over the task to improve UX of your app.
Tasks usually put in into four categories as follows:
- Urgent and important
- Urgent but unimportant
- Not urgent but important
- Not urgent and unimportant
We tend to choose the urgent tasks even if they are unimportant. In a very limited time and resources, we have to consider investment as a priority, things that are important even though we will not see the immediate result.
For example, when a customer asking for support, you can choose to reply immediately or write a help page for the customer to refer to. Writing a help page needs a little effort but it would create value that lasts.
Writing a good blog post or content is an investment. It could take months if not years to improve SEO of a website.
Another example, We often choose to fix bugs over things like codes refactoring that creating value in a long term.