Do you have a clear small business vision?
A small business vision can be compared to planning a holiday! People usually decide where they want to holiday based on the offerings of the destination.
If it is a vacation just to chill out they may go to Bali. But if it’s for shopping, then Dubai may be their choice. If it’s to climb the Sydney Harbour Bridge then they will go to Sydney, Australia.
Holiday destinations are determined by desires, with a few restrictions like budget and time available.
The same should apply to your small business. In 5 years time what do you want your small business to look and feel like?
Do you want a large street frontage or small office at home?
Do you want to be actively involved or have a manager controlling your employees?
How many employees do you want?
Do you want a business with excellent cash flow or a business that is worth a large sum of money when sold?
Answers to these questions and much more will help to provide a clear vision of your small business in 5 years time. And often this will completely shape your growth.
The majority of small business owners start a small business based on their trade or what they know. They never usually give much thought to their small business vision.
While it’s comforting running a small business using the skills you have, sometimes this can be a recipe for disaster.
Business should be kept simple and always be fun. But business owners tend to make a simple thing into a complicated thing and let others control them.
Your small business should be providing a better lifestyle for you – more money for less hours worked. But this is hardly ever the case; it’s more like working 60+ hours a week for about $4 an hour.
Why is this so?
Because small business owners have never sat down and thought about their vision. They don’t know where they are heading, they have nothing to aim for. They don’t have a crystal clear vision so they allow day to day activities to control where they are headed.
Decisions are based on what happened that day, instead of the business vision you are working towards.
Take the time now and think of your small business vision.
What will your small business look like in 5 years?
Why should your customers remain loyal to your small business?
How will you dominate your competitors and keep them wondering what you will be doing next?
What will make your small business attractive to any buyers?
What are all the potential risks?
Think carefully about these questions and then write your vision down. This will immediately tell you, the universe and anybody else, exactly what you are creating.
It gives you a defined target to aim for and achieve.