What is it? Vision provides an entrepreneur with a clear, distinctive, and specific insight into the future. Vision is the ability to see the results that may come to exist through the efforts of an entrepreneur. An entrepreneur’s vision allows him or her to foresee future demands for products and services and then begin to fulfill those needs. A vision identifies the company’s purpose and values.
Why is it important? Many successes obtained by entrepreneurs begin with a vision. An entrepreneur with vision is able to visualize the business at the final stage–even before the business has been formed. The entrepreneur will visualize him or herself achieving the results and the feelings of success. A visionary entrepreneur will often be more energetic and will often face any challenge that he or she encounters. Vision allows the entrepreneur to stay focused to reach his or her goal, and make the vision a reality. Although an entrepreneur employs vision to drive business, the vision must be supported by information and data in order to produce the desired effects. A vision does not provide the plans to accomplish your goals but, rather, provides the motivation to accomplish them.
How to get it if you don’t have it? Vision comes through thought and meditation of your basic principles and ideals. Although a vision for a company is generally discovered rather than created, you first have to prepare yourself to find it. The preparation generally begins by expressing the purpose of your business under ideal circumstances. In other words, consider how you would create and run your business if money were not a consideration. Once you define your ideal business, identify avenues in which you can create your business in that way. Be very specific and include as many details as possible.
How to develop it if you have it? Once a vision has been discovered it must be flushed out and improved. Often the initial vision does not contain the detail and depth that is possible. Improving your vision may often take as much time as discovering it. As you seek to improve your vision, consider what your business should stand for. Continually ask yourself why you want your business to be the way it appears in your business. Consider the reasons that customers will choose your business instead of your competitors. Once you can identify and clearly convey your ideas on paper you are well on your way to creating a strong vision.