Copyright Exigent Ventures Ltd 2010-
I have worked with many high growth businesses and contrary to much of the published research it is clear that many owners of successful and high growth businesses do not have a clear vision of where they want to go or indeed and why they should need to know. Many of the business owners I have worked with would describe themselves as accidental success stories. That is to say they can't explain why their business is consistently successful or what actions they put in place got them to where they are now. However what is common, they all recognise that this is not a satisfactory state of affairs. Formalising their thoughts into a vision is not just an academic exercise it is important to be able to articulate why you are in business.
A vision is not about targets or goals, it is about the reason you are in business for example Disney's vision is simply "To make people happy" Whilst Google's is "Make Internet advertising better -
As a business owner you will have some kind of vision in your head but to communicate it effectively to your staff and the outside world it needs to be put down on paper, in doing so it will help you clarify your vision. You will see from the examples I have shown that a company vision is not about targets or goals but rather, why you do what you do and how you do it. It should not change and it should be just as valid whether you are a 5 person company or a 5000 person company. It should be timeless.
Getting your vision right is important for any business, but for a fast growing business it is essential. Having a vision will provide the common sense of direction that will focus your staffs activities to the benefit of the business. This common purpose is vital for the maintaining of consistent fast growth.
Firstly you need to ask yourself a number of questions about why you are in business, what you are trying to achieve for your customers and what a customer should expect to get get from working with you. IT should not be bounded by growth aspirations or market share and as previously stated it should remain relevant and achievable irrespective of the size of your business.
Secondly to reinforce that vision you need to identify how your values will describe how you would like to work. Some examples are “committed”, “customer oriented”, “innovative” and “persistent”. In doing so you are describing how your business will pursue its vision. Importantly it will be you who dictates what your company does and how it does it and not your competition or the whim or the market.
Thirdly commit to it. Instil your vision in your current and future employees and your customer and supplier relationships. By doing so you will lead both your customers and employees toward your vision and a successful business.
|Definition of High Growth
|High Growth Challenge
|Strategy and Planning
|Financial Management and Control
|Systems and Processes
|The High Growth Challenge
|Matching Organisational and Sales Growth
|The Impact of Badly Managed Growth
|Its All About Culture
|Healthy Culture Delivers Better Business Performance
|Using Your Culture for Competitive Advantage
|Good Culture and Return on Investment
|Are You Winning on the Cultural Battleground?
|How a Strong Culture Improves Your ROI with New Recruits
|The Importance of Planning
|Getting Your Vision
|Building A Structured Sales Process
|How To Ruin Your Sales Efforts With One Question
|The 6 Signs of a Dysfunctional Board