Do You Really Need a Vision for Your Small Business?

by Ed Martin

Business start-up coaches and experts tell us a small business needs to have a vision statement else it will be lost, without direction. With a vision statement a business owner has the a map for success which can inspire, energize and paint a bold picture of where to take the business in the future. Business owners resist creating business vision statments because they don’t know how to create one or don’t buy into the value of having one. Which point of view is correct?

The answer is that it all depends on you and what you are doing with your business.

What is a Vision Statement?
Basically a vision statement tells where you want your business to be in the future, out 5 or 10 years. It should be simple, positive and BIG! It should state what you want to do or sell, and to whom, and what kind of outcome you expect.

Examples:
In 5 years MicroBiz Made Simple will become a leading provider of online expertise to small, home and microbusinesses.

In seven years MicroBiz Made Simple will generate annual revenues of over 1 million dollars per year by providing customers with quality, premium-priced subscriptions to private membership areas.

In the next 5 years MicroBiz Made Simple will help Australian women acquire the skills and knowledge they need to start and run successful home businesses.

You get the idea. I like to keep it simple and big picture, but write as much as you need to say in order to make your point. You are wanting to give yourself inspiration and a reference point against which you make your business decisions.

Do you really need one?
If you know you want to sell egg timers on ebay, then what is a vision statement going to do for you? Not much. What if you want to do affiliate sales? Again, probably not much benefit from a vision statement?

Suppose you want to open a plumbing shop or sell cakes? You can do both perfectly well without ever having a vision statement. But it doesn’t hurt to have one if you have aspirations to grow or be in business for a while.

What if you want to be a coach or start a school? You can start to see more value now in having a vision statement that lays out your values and principles.

What good is a vision statement if you don’t know where you want to be in 5 or 10 years? You can always change and adjust your vision statement anytime you want. The whole purpose of it is to help you by giving some guidance and inspirations. If it is wrong, then change it.

Conclusion
How much value there is in a vision statement all comes down to you, how much effort you put into creating it and how accurate it is for your situation. If it helps, then put in some time to reflect and create a meaningful vision, and then follow it. If you know you’ll ignore your vision statement then don’t bother. It is just like any other tool. If it works, then use it. If it doesn’t then go find something else.

For more, take a look at Know Your Motivation for Starting a Microbusiness, Set Your Startup Goals, and Do You Need a Business Plan?

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You can always contact me at <a href=”javascript:Transpose_Email(‘ed’,’microbizmadesimple.com’,’MicroBiz Made Simple’) “>MicroBizMadeSimple</a>.

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You can always contact me at MicroBizMadeSimple.

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