It isn’t always easy to come up with a business vision. However, it’s a crucial first step if you hope to achieve long-term success. We recommend gathering those who helped you establish the business and engaging in a brainstorming session. Think about where you want your business to be in one-year intervals and write down anything that comes to mind.

Writing objectives on a vision board can help you see your business vision more clearly. By the end of the session, you should have a good idea of whether you want to change your brand direction, meet a specific financial goal, expand into a new territory, or achieve another typical business goal.

 

Develop a Plan

According to the Small Business Administration (SBA), the failure to create a business plan at all, or making one in haste, is a leading cause of small business failure in the first two years. You can visit the SBA website to obtain outlines in creating either a traditional business plan or a lean business plan.

 

Break Your Vision Plan into Smaller, More Manageable Chunks

While you should look at your business vision as a whole, select one piece at a time that you want to explore further. For example, assume that your goal is to expand into a new geographical area of the country. You will need to have a plan before you drive hundreds of miles to that area and attempt to purchase property. Some items you could include in your list of smaller tasks include identifying promising areas for expansion, learning more about the demographics of potential customers in that area, and searching online for available real estate to purchase.

 

Develop a Group of Supporters

Developing your business vision will occasionally feel so frustrating that you want to give up. Having support during those difficult times is crucial in helping you reach your goals. You don’t want to look for people who will just agree with you, but rather those who understand your challenges. People on your support team should be willing to just listen and to offer a different perspective when the situation calls for it. Possible people to include are colleagues, a business mentor, family, friends, and a formal business network.

 

Monitor Your Progress Along the Way

You should never get so busy pursuing your business vision that you forget to monitor your progress. Be sure to establish check-in meetings weekly, monthly, or on another schedule that works for the majority of your team. Not only does this give everyone important status updates, it holds them accountable for completing tasks assigned to them. These check-ins are also a good opportunity to modify your business vision if necessary.

 

Don’t Forget to Celebrate Important Milestones

Anyone involved in an activity as labor-intensive and forward-facing as creating a business vision deserves recognition for their efforts. Be sure to offer verbal or written praise, bonuses, or even throw a party when members of your team meet or exceed an important goal. You should also include yourself when it comes to rewards, whether you lead a team or are in business completely on your own.

Rickhoff & Associates believes in “Business in Balance.” We can assist you with getting your small business goals down on paper and then provide ongoing assessments to ensure that you’re right where you want to be as a business owner. Please contact us today to learn more about our business solutions.


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