Where is your business going?

In Business, Productivity by

What you don’t know could be killing you.

 

Did you start your business because you have an amazing skill or a passion for a new and different product or something you feel like will change your life and the lives of others?

Or were you just sick of the corporate grind and working for someone else?

If you answered Yes to any of the above, having that drive and passion is key starting a business but can be a KILLER to growing it into a real business that will give you time and financial freedom.

Most of us are brilliant in 1-3 areas of our businesses that allow us to get off the ground and to the point where we feel “ok, this will work!”

Yet the vast majority of us have to bootstrap our startup and thus we have to wear EVERY hat, whether we really know what we are doing or not.

Because of this we often get bogged down in figuring out to keep the business afloat. This causes us to either lose sight of the reason why we got into business in the first place or if you’re like me in my 1st two businesses, your biggest motivation is just to survive enough to not have to work for anyone else.

If this is you, this article is crucial!

If you are running this way, it is only a matter of time before you either completely burn out or run your business into the ground. Yes, I hate to be the bearer of depressing news, but the great thing is you are here right now reading this AND there is a way to remedy this!

Creating your Destination Vision is the #1 most important first step on the road to digging yourself out of the rut and moving your business forward.

Now, when I say “vision” I am not talking about your business vision statement. What I am talking about is the concrete destination, finish line, end game for your business.

If you are like a lot of small business owners I advise, you might be thinking, “I have NO idea what I want to build my business to…end game, what is that? I’m just trying to survive the year.”

That is OK but hang in there with me as this is incredibly important to not only survive the year but to crush it!

When creating your destination vision, you need to think long term…even if it is 3-5 years out and not necessarily end-game picture.

There are 4 keys to the most productive destination vision that will help you develop the business of your dreams:

Get Specific

Yes, you have heard it before, but time to get serious. Define out EXACTLY what your destination vision is. What exactly do you imagine your business and your life will look like. Think about your profits, your team, your client base, the change you will make in other’s lives, and if you are ready, what is your exit strategy…how do you want to leave this business?

Make it Measurable

With that specific destination you mapped out above, you need to make sure you put numbers on it. By that I mean, identify where the finish line or at least the mile marker is. This is specific measurement/quality that will let you know that you have reached that line. It could be an annual profit number, clients served, # of franchises, etc. Don’t make it a moving target!

Constrain It

This means, put a time limit on it. Do not allow yourself to keep pushing this out and out and out. You cannot let this destination be out there looming forever, you need to set a time limit to reach that destination. Do you want to reach your destination in 5 years; 10 years; by the time your 78; by the time your last child turns 22; when Saturn is next in retrograde? Whatever your measurable mile marker is, define it.

Get Excited About It

This is the fun part! Whatever destination you envision make it big, no HUGE and scary; something you can’t fathom you will even be able to reach, but when you do will be a “WOW, HOLY COW, I just did THAT” moment. Something that excites you or moves your soul. Give a meaning and purpose to your destination, whether it is to be a household name, or set up your kids and grandkids, or to travel the world or you want time and money to start a non-profit, or money to pay cash for your dream Ferrari. Make it your own; do NOT think you have to have a specific motivation. Whatever excites you to achieve this goal and keep you going through the roadblocks is what you need.

The final point on how to create a powerful, useful and impactful destination vision is that you can NOT let yourself be bound by your conceptions of what resources, options or knowledge you currently have. It is important that this is HUGE, CRAZY, SCARY and completely and 100% EXCITING and MOTIVATING.

The next step is to write it all down, outlining the 4 key points above, then print it out and hang it somewhere you will see it every day.

If you have a team, distribute it to your team. Getting them on board with your vision will help them know the direction of the business and how they can help you reach it.

Then use this as your guiding light for everything you do in your business. Every decision you make, every team member you hire, every client you take on, etc.

Once you have your destination vision clear in your mind, back this down into a 3-month goal (you can take intermediate steps as necessary…3 years, 1 year). You do this in the exact same way as you created your destination vision.

The only difference is that you need to ask yourself what do you need to do in the next 3 month (1 year or whatever) that will move you forward toward your destination vision. Form it in accordance to with the 4 keys above and don’t forget to still make it big and scary and awesomely exciting than your destination vision.

Again, write it out, print it out, hang it up and share it!

Ready to take your business to the next level and build on your goals? Check out my video training that will build on this article and show you the next steps along with a downloadable action plan and workbook. Check it out by Clicking HERE.

As the founder of 3 companies, a recovering engineer and 2-time Peace Corps volunteer, Jenna has learned how to combine her analytical, systems-based engineering background with an innovative and creative approach to develop custom business solutions for seemingly insurmountable issues. For the past 6 years as CEO of Waites Ventures, she has utilized her knowledge and experience to assist small business owners create streamlined processes that allow them to spend more time doing what they love while increasing profits.

Learn more about Jenna: https://jennawaites.com/jennas-story/