Where do you see yourself in 5 years?
Establishing a vision for your business is key to creating a stable foundation. A clear vision acts as a guiding force behind all aspects of your business. It puts into words the impact you wish to make and articulates what you wish to change. It gives you and your team a reason to jump out of bed in the morning, a direction to follow, and ultimately helps to position your company on the path to sustainability and profitability.
Forming a clear strategic vision for your company is difficult for any entrepreneur. Whether you want to increase your revenue, create a new product, or change the world, you need to find a path.
It doesn’t need to be a lengthy process. It can take ten minutes. Below is a three-step exercise to help you think through and write a vision and plan to reach your goals:
1) Start with Your Unicorn
Don’t build your vision of your initial thoughts of what is realistic. Think of what you truly want for the future of the company and how it looks. Do you want a big office, many support staff, over 1000 clients? Or a smaller team and organization? Whatever it is and however far out that is you want that, write it down. If you work it backward, you can figure out how to get there. Never say never.
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2) Create the SMART Roadmap
It can feel daunting to try and make an abstract vision a reality. That’s why breaking down that dream into SMART business goals is so vital. SMART goals are Shared, Measurable, Actionable, Realistic, and Time-phased, which means they can truly be executed.
3) Communicate Constantly with Transparency
The vision should permeate the workplace. The more you share the vision amongst the company’s employees and the leadership can get behind it, the more people work towards making it a reality. People like to feel like they are part of the big picture, so letting them in on it with transparency is a healthy key to success. In addition, aligning corporate with departmental and individual vision is important for short- and long-term success.
After completing this process, remember to adjust your perspective to act with a clear vision and a strategic plan.
If you need more help with creating a company vision and don’t know where to start, you don’t have to go at it alone. Schedule a free 2-hour consultation with Cultivate Advisors to dig into your business and develop a plan.