How often do you stop and ask yourself where your business is going? If it is regularly, then you are in the minority. So many business owners plod along doing the same thing without ever actually taking the time to think about where the business is going.
Many business owners don’t ask that question because they get caught up in the day-to-day activities of the business and hardly ever take a step back and look at the bigger picture.
It’s understandable with so much going on, managing staff, customers, suppliers etc, but if you lose sight of the direction of the business, there is a danger that your business will develop in different ways that you intended. And, in turn, this can lead to frustration especially if the business is treading water or not giving you what you thought you would get out of it.
Having a clear vision not only helps you to plan and make decisions that will help you to achieve your goals But, sharing you Vision with your team helps them to know about how their role fits into the overall big picture and will focus them on the things that are important to you.
Imagine steering a ship. The Captain knows the route that boat will sail and makes minor adjustments along the way to ensure that he reaches his destination most efficiently and safely with his crew’s support. What would happen if he had no idea of where he was going and took random adjustments based on his gut feel. Would the ship ever reach anywhere? Would it reach its destination or even capsize along the way?
So, how do you create a Vision for your business? Below are the ten steps that you need to take to get a Vision and turn that Vision into a Plan that you can use to help you achieve your high-level goals.
Step 1. Close your eyes and think about where you want your business to be in 5 years’ time. What will it look and feel like. Consider and write down your thoughts about:
- What your premises are like
- Your customers and their experience
- How many employees you have and what they are like
- What are your products and services
- What are the values of the business
- How organised is your business
- What is your role in the business?
Step 2. Turn your thoughts into a statement that covers your customers, your products, working at your business, and what you value and agree this with your senior team. They don’t need to be fancy long words. Write something down that is meaningful and focussed on where you want your business to be.
Step 3. Look at where you are now and reflect on the points listed in Step 1 and write them down as well.
Step 4. Complete the “gap analysis”. List the differences from now and five years and highlight what the gap is.
Step 5. Start to make your Business Plan. List your high-level goals down that relate to each of the gaps. For example, you may have said that you want 20 more people working in the business. Your high-level goal will be to recruit more staff. Or, if you want to have a different customer experience that will be your high-level goal.
Step 6. Once you have identified your high-level goals, you will need to break each goal down into achievable first and second-tier goals. So, back to the examples:
High-level Goal – Recruit more staff
The 1st Tier Goals are: 1) Create a manpower plan 2) Write job descriptions 3) recruit 4) select 5) train
The 2nd Tier Goals are the above broken down per new role.
Do be specific in describing the goals and put in targets as well as detail such as who will do it, how will it be done, and how much will it cost for each goal.
Step 7. Finalise your plan and share it with the people who can make it happen.
Step 8. Revisit your plan. Go back to it regularly to monitor progress against the actions that you agreed to achieve the goals. You should also refer to it when faced with a decision or an opportunity to go in a differing direction. And, if you chose to go in a differing direction…
Step 9. Update your plan. If things change, update the plan and make sure that it is current and steering you to achieve your new Vision
Step 10. Share your progress. Keep the people that can help you to achieve your Vision and plan informed on how your business is getting on to keep them focussed and committed to making it happen.
