Creating a Vision for Your Business!

“Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.” Jack Welch, Chairman, General Electric.

Without a strong, defined vision, most businesses usually fail because the challenges got too tough – the business fundamentals outweighed the ‘passion’ and drive. The vision therefore drives the company through good and bad times. The vision is the purpose and ’soul’ of the business.

Creating a vision for your business

Define the vision…

• What do I see as the key to the future for our organisation?
• What unique contribution should we be making in the future?
• What would make me excited about being a part of this organisation?

A vision statement is a company’s inspiration. A vision asks, “Toward what reality do we want to lead this organisation?”

For example :

Walt Disney’s vision statement :
“To create a new kind of amusement park filled with the accomplishments, joys, and hopes of the world we live in.”

Microsoft’s vision statement :
“Empowering people through great software at any time, and any place, on any device.”

Sony’s vision statement :
“We invite new thinking, so even more fantastic ideas can evolve. We take chances. We exceed expectations. We help dreamers dream.”

IKEA’s vision statement :
"To create a better every day life for the many people."

Use these examples to create an unique vision for your business. How can you do or provide something so good that people cannot stop talking about you?

Time Management Secrets Of Successful Business People

Once of the most common responses I get from business owners is about time – “How do I get time to work on my marketing?”, “How do I find time to systemise my business?”, “I just don’t have time to think about my strategic plans”

Hundreds of books have been written on the subject of time management and most have good suggestions, tips and ideas. But the simplest way to find out how successful people manage their time is to ‘model’ what they do. I have copied (modelled) my work habits around successful businesses people in my industry and these are ones that I have found to be the most successful :

1) Creating a daily to-do list with 3 top things to be done. Doing your best to complete those 3 tasks – usually by ‘blocking’ out time without interruptions (from staff, no phone calls, reading emails, etc). You are essentually making an appointment with yourself (or have your PA do this for you). Any uncompleted tasks are rolled over to the next day.

2) Creating a 30-day to-do list. These are tasks to be completed this month – you pull your daily top 3 from here.

3) Focusing on high leverage tasks, rather than on medium and low leverage tasks.

4) Delegating, training, systemising and giving staff the authority to make decisions on their own – so your business can run without you!

Here is a list of high leverage business tasks (this is where you should be spending most of your time)

• Strategic planning and vision for the business
• Marketing planning
• Utilising media (press releases, advertising, direct mail, etc)
• Developing business systems (admin, legal, IT, staff, service delivery, supply, marketing, sales, etc)
• Developing information material or products (every business whether wholesale, retail, service or professional services needs these)
• Working on business uniqueness
• Reviewing financials and ensuring a good return on investment
• Creating Joint Ventures and Strategic Alliances
• Promoting the business – developing presentations and speaking at seminars, trade shows or networking
• Reviewing staff performance, feedback and suggestions and developing staff systems for your General Manager
• Organising customer research or reviewing customer feedback
• Meetings with your ‘Mastermind Group’ – peers in business
• Meeting with your ‘top’ staff – financial controller, marketing, sales and general managers (these many be shared roles in a small business)
• Delegation : Staff and outsourcing

Here is a list of medium leverage business tasks

• Sales (of products and/or services)
• Providing the service that the business sells (auto servicing, computer servicing, chiropractic care, financial planning, etc)
• Supplying products that the business sells (wholesale, retail)

Here is a list of low leverage business tasks

• Bookkeeping and Accounting
  • Paying bills
  • Payroll
  • Invoicing
  • Following up outstanding payments (account receivables)
  • Tax preparation
• Inventory
  • Ordering stock
  • Receiving and inventory of stock
• Administration
  • Staff admin
  • Opening the mail
  • Filing
  • Basic computer stuff
• Supervising and training staff (you should be working on staff systems instead)
• Answering the telephone
• Deliveries
• And so on … you get the idea…

The four time management procedures (daily list, 30 day list, high leverage, delgating/systemising) are simple to understand and easy to follow. All it takes is a bit of self discipline initially and then it will become routine. If you have staff there may be some resistance to change as they may be used to ‘bugging you’ everytime they have a problem – but, don’t ignore them – document their frequent questions and the answers – that way they can consult training or company procedures instead. Soon you will quickly notice how much progress you have made ‘working on your business’ and not ‘in it’.

Attitudes (Mindset) of Successful People

Most people have a desire to be rich or be successful, yet so few attain prosperity and great wealth. This is something that I have pondered for over twenty years. So, I had a close look at my mentors and other role models like Steve Jobs, Bill Gates, Donald Trump, Warren Buffett, Richard Branson, Anthony (Tony) Robbins and many others. I observed personal success usually occurs from a number of behavioural patterns and certain ‘attitude’ traits. Here are some of the reasons why many individuals are successful in their field of endeavours.

1] They have a life purpose or vision of what their company or life will be like in the future.

All great accomplishments begin with an idea and a vision. It’s purpose and vision that drives and motivates them.

To help you define your life purpose, click here.

To help you create a vision for your business, click here.

2] They have written down goals.

If you don’t know where you’re going, how do you know when you’re going to get there? I know many people in my own life (including family members) that just ‘float’ along in life without direction.

Studies have shown that written down goals have a higher probability of being achieved.

Try our goal setting forms, click here.

3] A burning desire to succeed.

Think about how competitive it is to be good in a chosen field these days. You WILL encounter set backs and challenges. I like to look at these challenges as a test to see if I’m serious about achieving my goals or not.

This is where written goals help. They will highlight what you have achieved so far and will give you the extra boost to keep going.

Having a good ‘friend’ to talk to when you feel a bit ‘blue’, helps too. Ask them to be your ‘Success Buddy’.

Read about other successful people and what challenges they overcame.

4] The acquisition of specialised knowledge to achieve your goals.

I enjoyed reading about the life story of Henry Ford. He continually learnt more about building motor vehicles, hiring talented people and investing in research.

To achieve your goals you will need to master certain specialized fields or skills, such as book writing, public speaking, writing and publishing press releases, becoming an expert in engine repair, etc.

If you can afford it, hire the best skilled people you can find.

Want a shortcut? Find people that have achieved your goals and just ‘copy’ them. It might cost you a few thousand dollars, but you will reach your goals quicker with lower chance of failure.

Read, watch videos, go to seminars, conduct tests and experiments, observe all you can about your specialisation.

5] Being decisive in nature.

Successful people know how to take advantage of opportunities that come up and they make a decision very quickly. Sometimes the decision will be the wrong one, but not making a decision is really a ‘no’ decision anyway.

Rich people surround themselves with experts who assist in making informed decisions. What ‘experts’ do you have around you?

6] Utilising mentors or being a part of a mastermind group.

As already mentioned in point four and five, surround yourself with experts and also have another group of people who share similar goals as yourself.

I currently meet with my ‘mastermind’ group every week for two hours. We’ve been doing that for over one year now and the benefits are enormous.

The outcome?

There are no guarantees in life (unfortunately), BUT, I have seen (personally) many of my wealthy mentors ‘live’ the attitudes mentioned above and I strongly believe these are some of the main reasons they are so successful. Now, how can you apply them to your journey?

Creating the Vision, Mission and Culture for Your Business

Step 1) Define the Vision

• What do I see as the key to the future for our organisation?
• What unique contribution should we be making in the future?
• What would make me excited about being a part of this organisation in the future?

A vision statement is a company’s inspiration. A vision asks, “Toward what reality do you want to lead this organisation?”

Step 2) Create the Mission Statement

How will the vision be achieved?

a) Who are you ? Define the characteristics of the people in your organisation. What are their qualities, attributes, etc ?

b) What business are you in?
e.g. the transport business

c) Who are your customers?
e.g. demographics, age, etc

d) What makes you different?

e.g. Starbucks
“Establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow.”

e.g. Target
“At the heart of our strategy is our commitment to delight our guest by consistently delivering the right combination of innovation, design and value in our merchandising, in our marketing, and in our stores. This is the essence of our “Expect More. Pay Less.” brand promise.”

e.g. Nike
“To bring inspiration and innovation to every athlete* in the world.”

Step 3) Culture statement

Ownership, integrity, teamwork, communication, etc

This is an example of a culture statement :