Why Vision Is Vital for Business Success

Why Vision Is Vital for Business Success on providentcpas.com

A good vision parallels and drives a company’s values, purpose, and mission

Any business owner knows the importance of consistent performance, efficiency, and steady growth. But just as important as these considerations is your business’s vision. Without a clearly defined vision, teams won’t be aligned around a common goal. You may not know what the future looks like. And purpose can get lost in the everyday shuffle.

Why is a vision statement so vital? And where do you begin? Here’s much of what you need to know about creating and sharing your vision.

Why your vision is important

A vision identifies your purpose, aligns the team on a collective goal, and helps you define future success. Without knowing where you’re headed, it will be challenging to set short-term (and long-term) goals that keep your business growing.

Creating a vision also helps you and the team nail down why you’re doing what you’re doing. Implementing one builds motivation, providing a core for what every single goal and desired outcome should be working towards. But remember—the vision statement shouldn’t include a detailed road map, nor every step that will make that vision come to life. A vision is the dream itself.

A clearly defined vision inspires, motivates, grounds, and unifies.

Defining your purpose

Your business vision identifies your why, your future, and why it matters.

Important questions to ask when creating your vision: What’s the purpose of the business and its products or services? What inspired you to start it in this industry? What problem does your business address? What are the future aspirations of the organization? Where do you envision the entity in three, five, and 10 years?

Make a list of the key values of your business and of the team members. Close your eyes and examine the mental picture that comes to mind for your future. What does success look like?

Thinking through these questions gets you on the right track to creating a clear vision that outlines where you’re going and why.

Aligning the team

Once you’ve set your vision, align your team. A clear vision means that all team members are 100 percent on the same page. They know where the business is going and how their role fits into the bigger picture.

Even better, involve your team members when you’re coming up with the vision statement. What do they view as their purpose? What do they find most important about the business? What does their picture of the future look like, both individually and as a team? Gathering this information opens a discussion about the company, and also where each group fits within the overall goals.

When hiring new team members, look for candidates who value the same ideas as your company. Share the vision with them in interviews and ask them how they approach their work—what their “why” is for what they’re doing.

Bringing your vision into hiring and recruiting helps you assemble a group of like-minded individuals who will be committed to your cause.

Communicating the vision

Next is finding a way to communicate your vision, both internally and externally. Engage the help of a writer and designer. Incorporate images on your website, newsletters, and marketing materials to better tell your story and share your purpose.

Every company communication and meeting should keep the vision in mind. The answer to the question “What are we working towards?” should govern decision-making sessions and strategy decisions. It will help you identify which areas to focus on the most within business operations.

A vision statement identifies the purpose of your business and where it’s headed. Involve your team members in nailing down the vision so that everyone is aligned. Make sure all materials and decisions keep this idea in mind, creating consistency for your audiences.

Helping you define your vision and align your team is part of the Entrepreneurial Operating System (EOS), which Provident CPAs incorporates into its business growth and profit management services. The EOS helps you strengthen your purpose and ensure that every team member is on board. The EOS model outlines Six Key Components of any business: Vision, People, Data, Issues, Processes, and Traction.

Contact the team at Provident CPA & Business Advisors to get started with improving your processes. We begin with a 90-minute meeting, which gives your leadership team an overview of the EOS model.