177 – Building Your Business Vision

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Show Notes

Vision.  It’s something that business gurus love to endlessly prattle on about.  But what does a business vision really mean? Today on the show we talk about some practical steps you can use to build your vision. We’re really passionate about this topic because it is so important to creating a successful business.  If this is something you haven’t done yet today is a great opportunity to start! Download the workbook for this episode to really develop your vision.

There are many ways to be build your vision.  Half the battle is actually getting something down on paper.  Remember, if you don’t know where you’re going you’ll never get anywhere.  There is a great story about the Apollo 11 mission to the moon that really applies here.  It was only on target for 3% of the time. 97% of the mission was spent off-target. But they knew where they were going and that goal was enough.  In business you need to build something that fits your vision and ultimately your final goal.

The worst thing you can do is write something down and never look at it.  Have this document handy and make sure it’s short and readable. Have your yearly goals written down on a single piece of paper.  Every single decision should be about achieving that goal.

The first step should be to write down a 3 year goal.  Anything more than that is pure fantasy. Business changes so much, so quickly that 3 years is the absolute limit you’ll be able to plan for.  Once you have your 3 year goal identified break it down into 1 year plans.

Here are some things that should be included in your plan:

How much income do you want to be earning?

What is your ideal lifestyle?  It is very rare that it will require a $1 million. For most people achieving somewhere between $200 and 400 thousand will allow you to live the life of your dreams.  

What is your actual business?

What is your product that you’re selling and who is your ideal client.  Be very discerning about what products and clients are going to be best to achieve your income goals.

What team do you need to achieve those goals?

If you’re not spending at least 4 hours a week building your business then you’re never going to succeed.  Think about how much time you will have to spend on your business to achieve your goals.

What promotions do you need?

To achieve your income goals what are the promotions you need to implement to attract more clients?

What is your legacy?

What are you working so hard for?  Do you want to give back to you kids or your community?  Think about what you want to leave behind at the end of your working life.

More about this Show

We started Business Legal Lifecycle to create a simple way for you to understand complex legal terms.  Most importantly we want to help you to develop a plan to take your business successfully into the future.  There’s a startling statistic the underscores the importance of developing a solid plan.  The majority of business owners are just seven months away from losing everything.  A single aspect of your business that is not set-up correctly can shut down your whole operation very quickly.   Legal advice is not cheap and even when you can afford it there is often a divide between lawyers and their clients.  We want to close that gap once and for all.  We want to put legal knowledge and tools into your hand to prevent the worst from happening to you.

Twice a week we are going to deliver those tools right to your home or office with Business Legal Lifecycle TV.  We’ll start the week with Fast Fix Monday, a short 5-10 minute video that will tackle a single issue that businesses have to deal with.  Then on Wednesday’s our main show will feature with more fulsome discussions and interviews all delivered in a straightforward and easy to understand format.

Start here to discover your legal risks
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