Mapping a Vision for your Business
If you don't know where you are going, than any destination will do. You need to know what your destination is.
That's why it's so vital for entrepreneurs to develop a vision of where they are going and where they want to be. Having a vision can help with everything from deciding which business expenses truly make sense to deciding which legal structure you want to use for your business efforts.
Try deciding where you want to be in just three years. Answer these questions:
1. How much money do I want to be making per year? There's no right or wrong answer. Everyone's focused on a million dollars these days, but maybe you'd have everything you could possibly want on 100,0oo a year and would rather not work as hard as you'd have to work to get a million.
2. How many hours do you see yourself working a week?
3. Do you have employees? A building? What will your unique selling proposition be? Who are your clients? What is your corporate culture?
4. Do you see your business expanding into any new products or services?
5. What's your exit strategy if you need or want to get out of the business at some point? For some businesses this will be as simple as, "I stop doing it," and for others you might have to contemplate the eventual sale of the business. The vision is one of those things that can get you excited to get up and get going each morning.
Contrary to what people tell you, every single morning that you are in business is not going to be an amazing experience. Choirs of angels will not sing to you daily. There will be good days and bad days. There will be parts of the business you love doing and parts of the business you'd rather put off--but can't.
You can't even set proper goals without the vision to spur you on. The vision alone might not keep you motivated, but it least gives you the shape of what you need to do in order to achieve success as you define it.
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