Your Business Vision
On a recent Business Legal Lifecycle Podcast 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 and listen to the 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.
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 $200,000.00 and $400,000.00 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?
How many people do you need and what skills will those employees need? Those questions will help identify the team you need to create.
- How much time do you need to spend?
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.