Did Manny Pacquiao make a short-term gamble that may cost him dearly in the long term?
That’s today’s discussion in both social media and the business world. The Floyd Mayweather-Manny Pacquiao fight this past Saturday, dubbed the “Fight of the Century” by promoters of arguably the two best pound-for-pound boxers in the sport, was meant to be a resolution to a long-term discussion about which was the better fighter.
After a delay in the fight due to a system breakdown from the unprecedented PPV orders for it, the fight itself came under less-than-favorable scrutiny as it appeared Floyd Mayweather came not to fight, but to avoid getting hit by Pacquiao.
Now it appears that Pacquiao might have entered the ring with a rotator-cuff injury that was, according to his camp, reinjured in the 4th round. He now will have surgery.
If true, the Pacquiao camp may have chose the short-term benefits of immediate pragmatism over the long-term benefits of principle. It may be an example of his trying to have his cake and eat it, too.
In our finances and our small businesses, we are perhaps almost daily tasked with making similar decisions. Like a man suffering with severe hypothermia while staring at a pack of matches on his left and the only combustible item close to him … a large stack of $5 bills … on his right, we frequently may choose to compromise long-term health for short-term benefit. The most insidious example of choosing short term over long term is frequently decisions to get into debt. A $25,000 car may cost us $35,000 if we decide to purchase it on time.
Equally damaging can be our business decision to make an exception to a good policy in order to appease a client or even a star employee. Let’s face it: When someone squawks enough, we may compromise long-term benefit just to shut them up. And we often don’t consider the long-term consequences.
Problem is, every single time you choose immediate pragmatism over long-term principle, you will ALWAYS pay more in the long term. In the case of compromising on an important policy, as a general rule, once you do, you have basically eliminated the rule … and all of its intended benefits.
If allegations are correct, Manny Paquiao should not have entered the ring last Saturday night. He may have hoped he could finish the fight and NOT be hurt. Now, he is hurt and may face multiple lawsuits.
Lesson to be learned: Think twice before choosing immediate pragmatism over long-term principle. The cost is almost always much higher than you’ve calculated.