When you have a vision of what you want to accomplish, it’s a lot easier to make decisions about your life and your business. It can be challenging to figure out your vision and objectives because we’re not accustomed to strategic planning yet.
Sometimes all this planning can seem like a waste of time for a small business owner, but the truth is, you’re much more likely to succeed if you know what you want to achieve, how to get there, and why you want to do it in the first place.
The first step is to create a vision statement. To create your business vision statement, you’ll want to do the following:
Project into The Future
Even if you haven’t started your business yet, developing a business vision requires that you project five to ten years into the future. What, as of today, do you want your business’s legacy to be, and what do you want it to look like as you deliver on its promise?
Know Your Purpose
If you think your purpose is just to make money, you need to rethink your business. Yes, your business’s purpose may be for you to have a life of time freedom and earn six figures, but the purpose of your business is really about the problems you solve for your ideal customer and not about you at all. The results of doing that may be to earn six figures, but it’s not the reason you are starting this business.
Define What Success is Exactly
You should be able to describe precisely what success looks like to you in your own mind. Describe what a day looks like once you’ve achieved success. This is going to help you define your success more, so you know where you’re going.
Know Your Competition
It always helps to find out what your competitors are doing. Look for competition that is where you want to be someday. Find out all you can about them so that you know where they have gaps that you can plug.
Create SMART Goals
Once you have all that information, list the goals and objectives you have and make them in the right way. Learn all you can about making SMART goals because this one process will save you a lot of time and effort and cut down on risk.
Look at Other Business Vision Statements
Before you write your business vision, look at some other business vision statements to find out what they look like. For example, McDonald’s vision statement is: “To move with velocity to drive profitable growth and become an even better McDonald’s serving more customers delicious food each day around the world.”
The more time you spend getting this part right, the easier it will be to make good decisions for your business activities. It’s hard to know what to do if you don’t even know where you’re going or why you even want to go there in the first place.
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