Yes, there's a balance to be had between doing things that generate revenue now and doing things that matter in the longer run ... but guess what ... that is exactly the nature of every business out there. From the biggest multinationals to the smallest corner shop - they're all balancing between generating shorter term revenues with longer term growth.
If you are spending time only doing long run ("strategic") stuff, you are not a business. The funny thing is, the opposite is not true: i.e. if you're only generating revenue but have little to show for long term direction.