19th February 2015

'Vision without execution is hallucination.'

We’re all time poor, but can we find time to dream? If we don’t, we should all try it at least once and dare to dream about where our business should and could go.

But as Thomas Edison pointed out, if we don’t take our dreams forward and try to make them a reality, all we do is waste our time.

Business planning can help

Business planning is not some boring academic exercise – it gives you the tools to make your hopes, dreams and aspirations concrete and lasting.

The first step is to set aside time to work out where we want to go – individually or as a business – the easy part is writing it all down. The hard part is coming up with the idea or vision in the first place.

Refining your vision, or what I call your business mission, can be done in stages. The important thing is that you’re starting to write down and keep the ideas that will help take your business where you want it to go.

A business vision defines in a short paragraph or two an organisations reason for existence, it goals, ambitions and culture. Without one many businesses won’t be able to show what you’re achieving or set out to do.

It is a constant reminder to its employees of why the company exists. Losing sight of this is one of the key reasons companies fail.

You should think of your vision statement as a cross between a slogan and your elevator pitch to your world. If it’s effective it should tell your company story and define your ideals in less than 30 seconds.

An effective vision statement should:

• Say who your company is, what you do, why you do it, who you do it for and what you stand for
• Be built from the bottom up with input from all members of your business and reflect their views and ambitions  
• be short enough to be easily remembered and repeated — ideally around three or four sentences
• motivate everyone in the organisation and inspire commitment and support — from both employees and customers
• use clear, jargon-free language and active phrases ('we sell', rather than 'the sale of', 'we think' rather than 'it is thought that'). 

The questions to ask your business

Rather than just boasting that your company is the best, you need to be specific about what you're offering and why people should choose you over the competition.

Ask yourself:

• What exactly is it you're offering your clients?
• What are you good at
• Why have you decided to provide this particular product or service?
• What makes you the best at what you do?
• What's in it for your clients — why should they do business with you?
• What's in it for your employees — why should they work for you?
• What's in it for your stakeholders — what can you offer other people connected with your business?
• What's in it for you — what reward or satisfaction does this business bring you?

It's important to answer these questions honestly and realistically. If you don't really believe in your vision statement, or have promised the impossible, you won't be able to live up to it.

Remember that if we continue to do what we’ve always done, then one thing is certain: change won’t happen in our business. If we want change then we have to act.

I’ll leave you with a man who puts it in words more powerful than mine:

‘To the person who does not know where he wants to go there is no favourable wind.’ (Seneca)

I wish you all favourable winds in 2015.

Next we will look at the power of segmentation.

John Joe McGinley

johnjoe@glassaghconsulting.co.uk

Glassagh Consuilting

Business Development