Do you have a Strategic Vision for your business?
Have you ever taken the time to create a Strategic Vision for your business?
Many business owners have a Business Plan, but a Strategic Vision plays a different role.
A Strategic Vision is designed to provide a clear picture of what your business will look like, how it behaves and how it feels to be part of. It also describes what your business will look like when it’s ‘finished’ and sets your standards.
When created with passion, care, and commitment, this simple one- or two-page document will guide you when making decisions, form the basis for planning and business development activities. and allow you to ‘live intentionally’ in a business context.
Importantly, your Strategic Vision is also a commitment to the future, so it must serve your Life Purpose, otherwise it has the potential to lead you away from what you truly want.
Your Strategic Vision should be a solid and enduring document. I’m not saying it can never be changed, but revisions should only be made if there are significant changes in the external environment in which your business operates, which could affect the long-term prospects of your business. The smaller challenges that come up day to day, or week to week, should not influence your long-term commitment to your vision.
As for your business being ‘finished’, I work with many passionate business owners who say that they don’t want their business to ‘end’ but the reality is that one day it will.
It is simply not possible to work in your business forever, so what will happen when you can no longer run it? Will you sell the business? Will you close the doors? Or will you hand it down to future generations within your family?
When I created a Strategic Vision for Tuckfields it incorporated my desire to create the lifestyle I wanted, and included things like:
- How I wanted it to feel when someone walked into the office
- The target turnover and how much came to me as the Director
- How we were perceived in the industry
- What kind of staff I would have
- Who my customer was
- How I would exit the business
And believe it or not; most of the things I had in my Strategic Vision did happen!
Remember though, your vision HAS TO BE YOURS.
Once you have created your Strategic Vision, the next step is to communicate it to every single person within the organisation, and make sure it resonates with them so they can also live and breathe this shared vision.