Is your small business (or your dream of starting one) on the right track? Whether your business is still in the planning stages or is a well-established venture, having a long-term vision for your business is essential to moving it forward.
How can you achieve your loftiest plans? Follow these six steps.
Step 1: Clarify your business vision
The term visionmay conjure up images of a distant, hazy landscape. But if you want to achieve your business vision, you must be crystal clear on what it is. Start with a “brain dump” of what you want for your business within the next one, three and five years (or even further out). Your vision might be revamping your brand, expanding to an entirely new market or region, becoming a household name, or reaching a certain sales target.
- Tip: Creating a vision board showing what you want can help you identify goals and think about what achieving that vision would look and feel like.
Step 2: Make a plan
If your business is still in the pre-startup stages, now’s the time to write a business plan. (BPlans and SCORE* have tons of useful business plan resources.) Even if your business is up and running it’s not too late. Plan for achieving your vision as carefully as you did your startup. For example, if you want to expand your retail business nationally, where do you need to start?
- Tip: Think through what’s involved and write out each step.
Step 3: Break it down
Your vision plan will be overwhelming if you try to tackle it all at once. Dig into your plan and break every step into smaller steps. For example, for the vision of expanding nationally, one step might be identifying possible locations. You can break this into smaller steps such as:
- Identifying potential markets
- Researching demographics in those markets
- Investigating vendors and suppliers in those markets
- Visiting commercial real estate websites
- Contacting commercial real estate agents
- Tip: If you’re having trouble getting started on a particular step, break it down even smaller. For instance, “Contacting commercial real estate agents” can start with “Find contact information for 3 agents.” Even taking small steps will give you a sense of progress and help keep you on track.
Step 4: Find your cheerleaders
Making your business vision a reality will take time and commitment. To improve your odds of success, find supporters to motivate you when times are tough. These can include experts and advisors such as a business mentor, colleagues who have your back, or friends and family members who always know the right thing to say.
- Tip: You’re not looking for “yes men,” but rather for good listeners to bounce ideas off of and vent frustrations in an appropriate environment.
Step 5: Track your progress
On the journey to achieve your vision, it’s easy to stray off course—especially when you’re also handling the day-to-day challenges of running a small business. That’s why it’s so important to track your progress. Set up periodic check-ins with yourself and your team. Schedule them weekly, monthly, quarterly or at whatever frequency works best for you. The key is to hold yourself and your employees accountable for continually working toward the goals that you’ve set.
- Tip: At each check-in, review your progress, assess whether you need to modify your plans, and recommit to moving forward.
Step 6: Celebrate your successes
Making your vision a reality can be a long process. Along the way, take time to celebrate victories, no matter how small. When team members achieve goals, give them rewards and public praise. When the team reaches a milestone, throw a party or take them to lunch. If you’re a solo entrepreneur, reward yourself whenever you surmount a hurdle. Treat yourself to something special or take time out for an activity you enjoy.
By following these six steps, you’ll achieve your vision for your business before you know it. What’s on your horizon? Tell us in the Comments section below.
*Disclaimer: SCORE is a client of my company.