Skip to main content

What is a Business Vision? And why is it important ?



"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 business 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 isn’t based upon a monetary value) and work towards it – this is the key to long term growth and success.
So you’re a business 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’s not just a goal. A vision is the expression of our hopes and dreams related to a particular aspect of our lives. It’s a picture of what has not yet happened, but what the future may hold.
In business, having a clear vision is absolutely 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
A vision empowers employees. It encourages them to think independently, work effectively in teams, and take risks and initiative. The end outcome is a happy and productive work force.  And this culture can permeate across the hierarchy of the company.

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.


1.       The importance of business vision:
2.       3 reasons why you need a company vision

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

The Differences between Coaching, Mentoring, Consulting and Training

In life, we all can do with a helping hand, or a shoulder to lean on. or a light to shine on our path ahead.  Fortunately a large number of people are available to help us, and they fulfill different roles. One can sign up for Coaching, Consulting, Mentoring or Counselling. But the key is to know what will be most suitable. And in order to be able to choose from one of these it is important to know the differences  While each Coach, Mentor and Counsellor is different, the framework for each approach is established.  Rules within each framework offer insight into what is available for someone looking for a helping professional. Knowing which might serve you in your personal pursuit toward success is helpful. With the above context, it is important to not go ahead and hire a coach when the need is to work with a Counsellor or a Consultant.  So before an individual toys with the idea of working with a Coach, it is important for him or her to un...
Post a Comment
Read more

ALL ABOUT EXECUTIVE COACHING

EXECUTIVE COACHING Executive Coaching is a great opportunity for development of senior executives and ‘high potential’ employees in any company. Companies (often the human resources department) recommend a coach to an executive as a part of an executive development program . The pupil – called a ‘coachee’ - in coaching parlance - usually a senior level executive or an employee who has demonstrated high potential, could be newly promoted, be facing a number of challenges or getting groomed for larger roles. What IS Executive Coaching? An executive coach is a qualified professional that works with executives to help them gain self- awareness, clarify goals, achieve their developmental objectives unlock their potential or act as a sounding board. Coaches are not consultants or therapists. They usually refrain from giving advice or solving their client’s problems. Instead, they ask questions, and engage in deep listening, to help executives clarify and solve their own probl...
Post a Comment
Read more

Why is Business Coaching Important?

A recent report by Keap and Emergent Research found that about 94% (almost all ) of small business owners surveyed identify specific financial goals for their business and yet only 65% are confident they will achieve them. This leaves 29% of small business owners, (one in four) who have set specific financial goals for their business, bit are not confident that they will achieve those goals.   This is where coaches come in. Entrepreneurs and small business owners look towards a business coach to help solve specific tasks and objectives. But the moment they consider the coach’s fee, their reaction generally, is to save that cost, and solve the problem on their own . But don’t worry about how you can’t afford to hire a business coach because the truth is, you can’t afford  not  to hire a business coach.  Specific ways in which a Business Coach can help your business Entrepreneurs usually start a business with a great business idea. As a new busines...
Post a Comment
Read more