As small business owner, you can easily build a successful enterprise and multiply profits quicker than you think, if you have a compelling clear vision.
Whether you are operating from a declining or optimistic economic situation, odds are that you can succeed long-term if you take the right action steps and keep taking them. The magic begins with envisioning a compelling clear future of where you want to be.
Define where you’re going
Having compelling clear vision of where your business is headed will keep you focused on the right commitments. Simply put, a vision is anything you want to do, have or be in future. It begins as an idea, a thought or wish; something you want to achieve, or a place you seek to reach. But vision is more powerful when it is written down on paper. Until you describe your vision exactly how you want it to, it is still wishful thinking in your mind. But once written down, everything begins to work in ways that make it possible for you to accomplish it. It only begins with writing it down.
The process of creating a compelling clear vision is simple. I often come across small business owners wishing to take their business to the Next Level. Fair enough! If you share similar aspiration, your first assignment would be to identify exactly what that “Next Level” of growth means to you and your business. For many, it means acquiring more customers, generating more revenue, improving profitability, or becoming a market leader. Once figured out, it’s time to create a timeline around it. A timeline will tell defines when you want to reach the destination by, so you can channel all your efforts towards it.
Supposing that you want to acquire more customers; you need to determine the exact number of customers you want to be able to reach your Next Level, and by when. It is not enough to just want more customers, more revenue, and improved profits without knowing when you want them by. You have to be willing to measure your vision over a definite period of time, say three years, five years, or ten years.
Pause now and ask yourself:
a. How many customers do I want?
b. Exactly how much revenue do I want to generate from sale?
c. How much profit do I want to achieve?
d. By when do I want to achieve these? 3 years or 5 years?
e. How would I know when I have reached my vision?
Take a moment and review your answer to the above questions.
There is a price to pay if you must reach your next level. The price differs for different people and could mean as little as evaluating your priorities. Let’s assume that you want to generate $1 million in revenue three years from today. That simple decision could lead to taking a hard look at the most effective ways you can spend your time to reach your $1 million milestone. Upon careful evaluation, you might find areas in your life where you need to increase or reduce the number of hours you spend each day. To give you an idea, you can divide $1 million by 1,095 days (3 years), then divide your answer further by 24 hours. Whatever result you arrive at will give you a fair idea of how much one hour of your time is worth per day in relation to generating your $1 million revenue. Your challenge would be to determine the most effective way you can utilize each hour of the day?
It’s your choice to decide whether to invest that amount of time each day watching television, hanging out with friends, or taking seemingly insignificant actions that could cumulatively lead to your $1 million destination long-term. The choice is entirely yours.
3 reasons why you need a compelling clear vision to grow your life and business
A compelling clear vision is crucial for determining your path from point A to Point B of your life and business. Whether you are starting a small new business or growing an existing one, you need it to navigate your path through success. Many entrepreneurs want to get to their Next Levels with no mental picture that can pull them forward to the success side.
Below are three reasons why a compelling clear vision can accelerate your growth.
1. It clarifies your direction
A compelling vision will help you to find the path to your future. Not having one will be counter-productive and often results in wrong decision-making, wrong strategies, and wrong actions. It’s pretty much like playing a lottery with your business or career. The problem is that achieving sustainable growth and transformation is not the same as playing a lottery. Life is not a game of chance, success is not a lottery. When you are clear about where you want to go, you will certainly find the path to reach the destination.
2. You know exactly How to reach there
In my business coaching work, I help entrepreneurs and corporate leaders to maximize potential, multiply productivity and achieve sustainable growth. I have learned that having a clear vision makes all the difference between success and failure. People who pay the price to develop vivid vision of their future are constantly pulled forward. Those without vision get frustrated and quit.
Let’s assume that you want to gain reputation for offering superb customer experience three years from today. Your number one challenge would be to find the simple insignificant actions you can take daily, baby steps towards gaining that reputation. These might mean striving to serve with humility, applying courtesy, and demonstrating care. You will also need to train your team to do the same, if not better than you. But none of these baby-steps would have been possible if you had not painted a compelling clear image of the future you want to reach. Developing compelling clear vision will force you to find the right action steps (the Hows) that would help you gain reputation for excellent customer experience 3 years from today.
3. It keeps you disciplined and focused
Developing a clear vision can make a huge impact not only in your business, also in your personal and professional life. Let’s say you are aiming to generate a million dollars in revenue three years from today, you will need to discipline yourself to take simple daily actions that will take you one step after another towards a Million Dollar mark. To succeed at that, you might need to reorganize your priorities, including your relationships and past-times. Make a list of the casual places you visit and the things you do there. For each item on your list ask yourself; “Will spending time going to X and doing Y help me to generate $1 million 3 years from today?” The answer you arrive at will determine your next action.
Some small business owners believe that creating compelling clear vision is only relevant for large corporations. That is not right. As a small business owner, you have responsibility to lead your business successfully. Study shows that the most successful business leaders clearly understand where they are going. Running a business without clear vision can be frustrating. It frustrates many small business owners that they quit.
If you have any questions or insights to share on this topic, please use the comment box below.