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All Aboard - Your Entrepreneurial Vision in Action.

2006 | Feb 8 in Leadership

By E-Myth Business Coach,

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Your Starting Point: Developing a clear vision
The starting point of designing, or redesigning, a business to be something exceptional, vital, and profitable in the marketplace is to develop a clear vision of what the business will look, feel, and act like. This includes developing brief descriptions of your unique business development components, such as the customer, people, and client fulfillment systems that will serve as the guiding force to realizing your business vision.

Creating the vision, or what we at E-Myth refer to as the "Strategic Objective," is an entrepreneurial exercise that forces the leader to describe with clarity and conviction what their business is all about. No matter what stage of the business development cycle your business is in (infancy, adolescence, or maturity), as the leader of the organization, you must be clear about where you are going, and what the destination will be like. Customers, investors, partners, and employees require this level of clarity if they are going to commit to going there with you.

Your Way Forward: Communicating your vision
Think about the development of your vision as buying a ticket at a train station: you have identified where you want to go, and the business will be the vehicle that will take you there. But what if you’re the only person standing at the station, and there is no train in-sight? To get the locomotive that is your business in motion requires:

  • Fuel
  • Passengers
  • Engine

Money and proper financial management systems are the fuel that the business runs on. Your prospective or current employees, customers, and partners are the passengers, and they must buy into where you are headed. The company’s distinctive operating systems and way of doing business compose the engine which propels it forward. The Strategic Objective must include each of these important components.

Furthermore, the company’s external positioning statement, advertising, and recruiting messages, as well as the company’s internal plans, goals, objectives, and performance standards are important communication channels for integrating and broadcasting the vision. Every component of the business that you can weave your vision into is a leverage point of action toward achieving your goals.

Getting Where You’re Going: Making plans and taking action
Having a plan and informing the internal and external stakeholders about the business’ destination represents a major leadership achievement. You have challenged yourself to not only develop a vision, but to communicate it to the people who will help you achieve it. Next, a sub set of plans, objectives, and key performance indicators must be developed to motivate movement on a sustainable and tangible level.

The various function areas of the business, and the people who are accountable for delivering results in those function areas, require detailed action plans that relate to the various spheres of work. Your Strategic Objective will detail the company-wide goals and objectives, while these action plans will describe specific business functions and departmental goals and objectives.

Arriving at Your Destination: Your vision becomes reality
At this point, your entrepreneurial vision will have traveled from being an internal dream, through the rough terrain of strategizing and testing, and will have arrived at its destination by becoming a living reality.

As you embark on this journey in your own business, please remember that this forum and your fellow Community members are keenly interested in your successes and lessons learned, and can be a vital support group for you. By posting your thoughts, comments, feedback you are contributing to the expanded mindshare of your peers.

Comments

  1. .Lena W. says:

    This article presents a great primer for getting clear about your entrepreneurial vision. It's not enough that YOU know where you're going. As the captain of your ship, you not only need to be able to communicate where you are going and why but, also to get the right people on board with that vision. In my field of strategic technology consulting, I meet many potential clients who want to undertake technology projects just because it's the "thing to do right now" - anyone remember the whole buzz around CRM applications - or because their competitors are doing it. Before we will consider working with a client, we need to know that they have considered their ultimate business vision and how it relates to the technology efforts at hand. Any other approach is putting the cart before the horse. -Lena L. West CEO, TekFaktor http://www.TekFaktor.com

    Submitted Feb 12, 2006 5:08 PM

  2. .Steve S. says:

    Good points in this article. I've always related to the visualizing aspect of having a strategic objective and business plan. There's something kind of magical to me about the way you make something real through your thoughts. Steve-CVD

    Submitted May 3, 2006 6:35 AM

  3. . . says:

    The infomation provided is truly amazing. I've just started a real estate business and after reading your informative article decided to go back to the drawing board.Do you have a guideline or template that will aid me formulating a vision for the kind of business that I'm in.Your response is truly apprciated. Vivian Lee, Property Executives, South Africa.

    Submitted Dec 2, 2008 9:02 AM

  4. .ramalinggam k. says:

    Buying a ticket and taking the train are driven by external stimuli. How about ticketless flight to anywhere and from there to somewhere unintended but being aware that you have arrived at the needed destination. I suppose as the human mind moves in this loop a clear vision of its life`s intent will manifest. To be WHAT? & WHY? Sounds easy but HOW to make the window open. Without the first ACTION as articulated in the article no Vision will materialize.   

    Submitted Dec 11, 2008 12:23 AM

  5. .Tom S. says:

    There is a Proverb that says "Where there is no vision, the people perish"  I have to continually remind myself of how challenging it is to share the dream to others.  Ever woken up from a dream that was so real, so lifelike, then you tried to describe it to others and it came out to them as "so what"?  Tom Schwab - GoodbyeCrutches.com

    Submitted Aug 14, 2009 4:53 AM

  6. .Sonja G. says:

    Belief in yourself and your vision is the key. It is essential to stay composed and confident. A vision offers a direction for the business owner as well  the employees or contractors. My vision says I may not know HOW to get to my destination yet I know WHERE and WHAT my destination is. Stay focused and believe in your dream. Write down the vision and if you choose shrare your vision with stakeholders. No matter what clarify in your own mind and in writing what your Strategic Vision is and 90% of the battle is won.

    Submitted Oct 6, 2009 8:45 AM

  7. .K r. says:

    It is true that the starting point is the vision, but...  I can have an idea for a business, but I need customers to fuel that business.  What is important is to know what the market is, what the customer's needs are.  If I don't start here, clearly know this, and focus on those needs, then I might build a wonderful business doomed to fail.  My dream, ungrounded and disconnected from the market, might just become a nightmare.  Is this issue addressed in another blog?

    Submitted Dec 29, 2009 6:55 PM

  8. .Leo G. says:

    I hope to transform my ideas into an entrepreneurial vision and get to work organizing to put a viable plan into action. Thank you E-Myth

    Submitted Mar 26, 2010 7:12 AM

  9. .John C. says:

    I took the emyth course four or five years ago, it helped me duble my business and substantially increase my profits. All the articles you read in the E-Myth work, it can be overwhelming at times but if you do nothing that is exactly what you will get in return.

    Submitted Dec 21, 2011 8:58 AM

  10. .kariuki kagombe k. says:

    Am at strange place, I operate sole proprietor business. I have come to realize mine is not a business and am feeling the heat.The  above post I believe is a five star for those who are in a similar position. My greatest need is capital both re setup and training.

    Submitted Mar 2, 2012 11:45 PM


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