It’s something that is frequently referred to in business school as a part of a business plan, it’s asked of from investors before a business launches, and it is necessary in maintaining success…it’s a company’s vision.
What Is a Vision?
An Inc. article written by Ari Weinzweig answers this perfectly: “A vision, quite simply, is a picture of what success will be at a particular time in the future. It encompasses answers to an array of questions: What does our organization look like? How big is it? What are we famous for? Why does anyone care about what we do? How do people who work here feel about their jobs? How do I, as the founder, feel about the business? What’s my role in it? …A great vision is inspiring. It gets you and everyone in the organization excited to come to work; it’s the cathedral everyone is coming to work every day to construct. This is not mere wishful thinking. A vision must also be strategically sound. You have to have a reasonable shot at getting there.”
Creating a vision is the first and biggest step in enhancing your value to your company. A vision channels your energies and reduces your likelihood of making strategic mistakes. For the company as a whole, vision provides focus and stimulates creative energy. With great execution, the result is enhanced revenue, productivity, and profitability.
You want the vision to inspire your team to act and succeed…you need it to secure their commitment to the health and success of the company. You have to be able to see the future, understand how to achieve it, and…be able to explain it to your employees, your customers, and your investors.
If you’re not sure where to start with your vision, try the famous hypothetical question originally posed by Intel co-founder, Gordon Moore: “if we got kicked out and the board brought in a new CEO, what would he [or she] do?” Exploring this hypothetical situation forces you to consider what others may see as areas of concern, other priorities and goals for your organization.
In the end, creating a sound vision not only increases the likelihood of success, it enhances your value to your company.
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