“Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.” – Jack Welch
Many business owners, particularly inexperienced start-ups, run their business without a vision in mind. They focus on short-term profit and forget about the long-term goal – which should be – to build a business that prospers!
Is there any wonder why 90% of start-ups fail?
Many start-up owners have been profitable from the beginning of their business launch. They’ve been fortunate. But some of them need to be careful. It might not last. There will be highs and lows and it’s important to take the good with the bad. They should by all means celebrate their first success. At the same time, they shouldn’t get carried away by the first win. They should develop a vision (which is not based upon a monetary value) and work towards it – this is the key to long-term growth and success.
So you are a start-up founder or owner and you have a world-changing idea! And you want to create a prosperous business. Now what? Your ability to envision your desired outcome has a major impact on the results you will achieve. The limits of your imagination will be the limits of your success.
What you can ‘see’ in your mind will be what you get! Believe it. Develop it. Perfect it.
As a business owner or entrepreneur or a start-ups, your secret to a successful and prosperous business (or anything else that you desire), is understanding the importance of envisioning where you want to go coupled with a focused plan and action.
What is a Vision? A vision is the mental picture of the future you desire. It is not just a goal. A vision is the expression of our hopes and dreams related to a particular aspect of our lives. It is a picture of what has not yet happened, but what the future may hold. In business, having a clear vision is critical. It is an extremely powerful tool to achieve the results you want.
- What does it mean to have a vision?
Having a vision is to have a clear sense of purpose. It means having a larger picture of our business, than just setting short-term goals and tackling challenges as they come along.
A Vision is driven by passion and dreams. It is reflected through real efforts to create real results.
Why is it crucial to have a business vision?.
- It provides the foundation to build upon
The foundation, or the real purpose for which the business was established, often gets lost in the day-to-day running of it. Once businesses are up and running, owners and stakeholders quickly forget what the business originally was set out to achieve.
- This also affects the future path the business takes.
A VISION STATEMENT ensures that the core goals of the business as also the values it possesses, are understood, and are ‘on the radar’ all the time.
A vision will help ensure that the short and long-term goals, and the decisions made along the way are guided by the larger purpose for which the business was set up.
- It is unifying
A clearly defined vision of a company becomes a subject of common interest to all members of the organization. The vision or the purpose of the business makes everyone feel as though they are a part of a greater whole. This gives a deeper meaning for the work and also helps unify everyone into a team that is organized, focused, and working together to contribute to the vision.
- It is inspiring
Defining a clear vision is inspiring. It has a huge motivational effect on all employees. A vision is a common purpose or goal for all members of the organization. When a vision unites everyone with a common goal, it creates energy and enthusiasm, and very importantly, commitment. This is particularly important when the business faces tough challenges. The vision helps the employees to be relentless, persistent and resilient.
- Effect on the organization’s culture
To summarise –
A vision for your business helps define the larger purpose of your business. It is the starting point from where clear cut relevant goals and actions emerge. A vision is a constant reminder of why the business exists in the first place. Lastly, a clearly defined vision helps unite the entire organization with a common purpose, and this leads to high commitment, positive energy, teamwork and ultimately a culture of highly motivated and happy employees.
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Puneet Mathur is a Certified Life Coach, Certified Business Coach and a Certified Organization Development Coach. He specialises in helping business leaders to transform their enterprise into a professionally run Company by implementing state of art systems and processes, and building a highly motivated team Puneet is an experienced business leader, with about 30 years of Corporate Leadership experience in reputed Multi National and Indian Companies in the FMCG and Chemicals sector. He started his career with Britannia Industries as a Management Trainee. He has worked varied roles in Britannia Industries Ltd. Marico Industries Ltd. Coca Cola, and the Jubilant Bhartia Group. His last corporate stint was with Jubilant Industries Ltd. As Senior Vice President and Business Head of a strategic business unit (SBU, Puneet supervised Global Business Development, Global Key Account Management, Manufacturing R&D & New Product Development. Puneet has extensive experience in Sales & Distribution of FMCG products and Speciality Chemicals (B2B business). He has a rich experience of expanding distribution reach, Sales Force Productivity, International Business Development, and Exports.