The former Canterbury Crusaders coach took over the Wallaby reigns from John Connolly in 2008, becoming Australia's first foreign boss in the process, but his current deal runs out in 2011.
A run of seven successive defeats to his native New Zealand has led some critics to question his worth but many Australian fans believe he is building the type of team that could be reaching its peak when the Lions arrive Down Under.
"I've always lived life day to day, year to year and campaign to campaign and that's the only way you can approach it," said Deans.
"You just don't know what's around the corner.
"The key is to make the most of what you do in the moment and in the minute and worry about the rest later."
It's been nine years since the Wallabies last won the southern hemisphere's premier competition - the same season in which they beat Graham Henry's Lions - but although Deans is confident that the world will see an improved side this year and next, he won't be drawn on the extent of any targets that may have been set.
"That's what we're chasing," Deans said of Tri Nations glory followed by the World Cup.
"We're working towards it, I'm not going to say anything beyond that.
"This year is our last opportunity of any significance to be able to work with our group because next year we've got an extended Super rugby program then four Tri Nations Test matches and one week later a World Cup.
"So everything we do this year is very important in terms of building towards that."