Why did you get started in business? What’s your vision? What do you want to achieve? And how are you going about implementing this?
Every successful business owner has a vision for what they want to achieve and for whom. But translating that vision into reality is where the rubber meets the road.
When working with clients we use the Vision, Mindset, Strategy (VMS) model shown in the diagram below.
Your vision is underpinned by your mindset and the strategy to achieve it.
Let’s take these in turn.
Vision:
Your vision is a vivid mental picture of where you want to go and most importantly, your big “why”. Why this is important to you. What drives you. The most effective visions are those that bring people with you. Something greater than yourself that others can buy into.
Clarity and the ability to communicate your vision is paramount to your success.
However, here’s a caveat.
Most people overestimate what they can do in one year and underestimate what they can achieve in ten.
While it’s wonderful to have a big vision, and set a huge, audacious goal, make sure that you break this down into smaller chunks that can be achieved along the way. Or else you risk setting yourself up for failure.
So think in terms of 1 year, 3 years and 5 years and work out your strategy accordingly.
Mindset:
“When the going gets tough, the tough get going.” You can have a great vision, but if you falter at the first hurdle, you won’t get far. Business is tough. There’s no free lunch. You will always be challenged and as you grow, the challenges become harder.
When working with business owners, we encourage them to develop the courage, confidence and resilience to keep moving and growing.
Strategy:
A vision without a plan to execute it is hope. And hope is not a strategy for success.
Your strategy sets out concrete goals and milestones. What you’re going to achieve and by when. What resources you’ll need (money, effort, people etc.) And a concrete plan for getting stuff done.
Moving onto the intersections:
Vision | Mindset: Culture
What are the underlying values, beliefs, assumptions and ways of interacting that contribute to your success? How do you hire employees and ensure they fit within your culture so everyone pulls in the same direction?
What are the roles and accountabilities? How do you handle conflict?
Vision | Strategy: Goals
This is where you set goals and the milestones along the path to let you know you’re on track. Continuous feedback is key. Your culture needs to support being called out if things are going wrong, rather than having a bunch of “yes men” who won’t challenge you.
Mindset | Strategy: Commitment
You must have the commitment and resilience to follow through, keeping your vision alive. Have the courage and confidence to act.
And finally, right in the middle is:
Implementation:
Talk is cheap. Implementing your vision via a commitment mindset and workable strategy is key to your success.
Wrapping up, all three major components must be present and executed for your business to have long term success.
Now of course, that’s not all. You can have the greatest company culture, structure, and delivery, but ultimately nothing happens until you sell something.
Which is why we couple the VMS model with our PMS model.
The PMS model covers Prospecting, Marketing & Selling. The foundation of all growth. You can read about it here.
And finally, if you’d like help executing your vision, reach out and join the ranks of our clients who’ve achieved double and even triple digit growth.
