Friday, August 6, 2010

Creating Your Company's Vision

Do you know where your business is going at this point? Have you visualized what your business will look like in one year?  Without a vision and a plan, you are going to not only be frustrated and stressed but also be lacking in direction.  If your business is sputtering along without momentum, now is the time to spend some time by yourself creating this vision.

You don't need to make it a cumbersome process, simply put aside about 90-minutes to start thinking about and writing down what you envision in your success.  Studies show that for one hour spent in planning saves three hours of execution. So where do you start?

  • Do a simple visioning exercise
    • Close your eyes and breath (at least three deep breaths to get you centered)
    • Visualize yourself one year from now and what your business looks like if you had a magic wand to wave and it was all that you wanted it to be.  What is the difference then to what is going on now?
  • Write down your thoughts and answers to the above question.  Here are a few more questions to ponder and discover what the answers are one year from now:
    • Who are my clients and what do I provide them?
    • What is my Gross Revenue, what are my expenses, what is my income?
    • How am I marketing myself and my business?
      • Networking and Referrals
      • Deepening relationships with existing clients/customers
      • Social Media like LinkedIn; Facebook; Twitter, etc.
      • Newsletter/eZine Newsletter or Blogging
      • Speaking in front of groups
      • Web site (keeping it current and fresh)
      • Marketing materials and tradeshows
      • Advertising 
      • Ask yourself, How am I visible to my clients?
    • Business Operations
      • Do I use a Contact Management System for tracking new clients and existing clients?
      • Do I have the proper insurance or legal documents I need?
      • Do I have the equipment I need to run my business efficiently?
      • Do I have my financial matters managed?
    • Personal and Professional Growth
      • How am I staying abreast of what is the latest and greatest in my business market?
      • How am I involved in the service of others, getting involved with non-profits? (this is very important for balance as well as potential for business referrals)
  • Setting Goals and Committing to My Success
    • Review what you have written down and pick one item from each area that will be priorities over the next six months.  Write down three steps for each item you can take in the next three months to move you to your vision.  Make this easy for yourself - realistic small steps that will move you forward, don't bite off more than you can chew. At the end of the three months, review what you have accomplished and adjust or tweak what isn't working.  Do the same at six months.  At the end of the six months, repeat the same process with other items on your list.  Review at nine months and then at the one year mark.  Ask yourself, what is different for me now than it was a year ago?
  • Hire a coach to help you with this process or at the very least, find a business associate or friend who will hold you accountable and to bounce ideas off of.  The value of this - you aren't doing this process by yourself if you aren't self-motivated.  If you incorporate this exercise into your life and take the 90-minutes each quarter to review what's going on, success will be at your door and after all, isn't that what you want?

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