It's extremely important to measure progress in your small business. There are so many ways…
Where to Turn When Having to Make a Tough Choice in Your Business
Have you ever found yourself procrastinating over making a significant decision in your business?
This is what I found myself doing recently until remembering a rule I had learned years ago. If I was making tough choices ask myself, “Does this support my vision for my business?”
The importance of having a vision statement in business is often underestimated. Liken it to heading off on a sailing adventure without the sail or anchor.
How is the wind going to drive you along? How can you stop along the way without an anchor, and, if and when you get there, then what?
Your vision statement gives you your line of sight, creating and bringing the future of your business into existence.
Do you have a vision for your business? One that’s written and reminds you of where you’re dreams and aspirations are taking you.
A definition for crafting your vision statement is to make it a broad, inspiring image of the future state that your business aspires to reach. It’s not the how or when – it’s ambitious, inspirational and forward thinking, where you are taking your business in the future.
Jeff Weiner, CEO at LinkedIn defines a business vision statement as:
The dream; a team’s true north. The primary objective is to inspire and create a shared sense of purpose throughout the company.
Here are some big picture examples – remember they all started out small
Create economic opportunity for every member of the global workforce
Our vision is to be earth’s most customer-centric company, to build a place where people can come to find and discover anything they might want to buy online.
Facebook is a social utility that helps people communicate more efficiently with their friends, family, and co-workers. The company develops technologies that facilitate the sharing of information through the social graph, the digital mapping of people’s real-world social connections. Anyone can sign up for Facebook and interact with the people they know in a trusted environment.
Virgin Group (Richard Branson 1997)
We are planning a global presence in travel, mobile communications, entertainment retailing and music. We are in exciting markets which are set to benefit considerably from technological developments in distribution and fulfilment. I believe that Virgin has the opportunity to be in the top 20 of global brands.
To be the company that best understands the product, service and self-fulfilment needs of women – globally.
Did you note how each vision statements is very different; unique to their dreams? It doesn‘t matter the size of the business, what matters is to take the time to think big and share your vision.
5 key points to consider when crafting or reviewing your vision statement
1. Describe your aspirations and intentions.
What is your ultimate goal? Your achievable dream that stretches you but is realistic.
2. Is it inspirational and compelling?
Does it resonate with your employees and your customers or just you? Does it project an exciting story to engage your employees?
3. Is it clear?
Is it written in simple language whilst still being engaging and eloquent? Do your employees understand it?
4. Is it realistic?
It needs to stretch you and your team and keep challenging to learn and grow but…..If I claimed that through growing high-performance cultures I would lead the world in the race to land on Venus well, of course, that is definitely not realistic.
5. Does it align with your values and your business values?
The first and last rule of a business owner is to never compromise your own integrity or that of your customer.
If your business doesn’t have a vision statement, I suggest you consider one. If it does, then make the time to review and strengthen it. Ensure it aligns with the current dream you have for yourself and your business.
If the major initiatives you are considering don’t support your overall business vision, chances are they may not be worth the investment of your time and your money.
Have I made my decision?
Yes! And I am aligned with my vision of where my business is heading. My vision statement was as relevant now as when I first started out.
If you would like some feedback on your vision statement or simply to share it, I would love to hear from you.
“The opinions expressed by Smallville Contributors are their own, not those of www.smallville.com.au"
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