Fusion Blog

Imagine you are sitting in a room with 100 other business owners and I ask the question "How many of you have a plan for your business?" I would expect around 60% of the room to raise their hands. Most business owners do in fact have a plan for their business.

Imagine now, that I ask, "How many of you have written down this plan? The hands would drop. Maybe 10% of you would have your hand up. You see, many entrepreneurs carry their business plan in their head.

We have all heard the adages "If you aim at nothing, you will hit it with amazing accuracy" and "failing to plan is planning to fail." And even though we know this, many of us still don’t have a documented business plan or goals. This is a problem because to win in business you need to be strategic.

Business is tough. I’m sorry, but it is. It’s like going to war everyday. And you’re not going to win the war by executing tactics without a well thought out strategy. Most business owners spend the majority of their time working on how to get more clients, how to improve their products, how to get great team members…this is all TACTICAL!

Being successful in business requires many things…not least stamina, determination, courage and pig-headed discipline. But the most important thing is your VISION!

Vision is the foundation of strategy. It is the "WHERE" in your game plan. It is the destination you need to plug into your business GPS system. Without your destination, the journey will require much more fuel. It will take longer and you’re sure to experience many more wrong turns and lots of frustration.

So before you rush ahead and employ the next team member or do the next online marketing campaign, take some time out to be strategic and answer the following questions.

1. What is the vision for my business? What am I creating?

2. What will my business look like when it’s finished?

3. Who will we serve? Who will our clients be? How many will we have?

4. What products and services will we offer?

5. How many people will work with us?

6. Where will we be based? Will we have business premises? Where will they be?

7. What will we be exquisite at doing? What will our clients say about us?

8. What contribution will we make? How will we make a difference in the world?

Your vision is ESSENTIAL. As Benjamin Franklin once said… "Imagination is everything. It is the preview of life’s coming attractions."

This article was provided by Anthea Moffat MBA (adv), MIMC, founder and Managing Director of Business Fusion and The Business Masters Club. Join the Business Fusion mailing list at www.businessfusion.com.au and receive a complimentary VIP invitation to Anthea's next Business Masters Club workshop (valued at $135.00).