A personal vision serves as the most basic, foundational element of a business plan. Without a defined, visible personal vision plan we can very easily feel lost in the deluge of tasks and responsibilities that come with running a business. Often, business owners get caught in the cycle of “working to work” essentially getting directly involved in the day-to-day operations of the business. In doing so, they end up putting in more and more time with no defined end goal or “destination” for themselves or their endeavors. Therefore, it is sometimes necessary to take a step back, reprioritize, and ask the all-important question of “why did I start this business to begin with?”
What Is It?
A Personal Vision is the ideal “destination” that you want to reach through your business, especially in regard to lifestyle, income, personal interests and security for your family. It should be as detailed and tangible as possible in order to motivate you through difficult or uncertain times.
Why Is It Necessary?
Aside from providing motivation, a personal vision provides the necessary clarity to the questions that may arise over the course of operating the business. If we already know where we are going, then figuring out how we get there becomes much easier! Additionally, having a defined vision provides a sense of structure and purpose, as each task that gets completed and each goal that is accomplished serves as yet another step forward toward your ideal lifestyle.
How Can I Create My Own?
Creating a comprehensive, actionable personal vision looks something like this- “In __ years I would like to have ___ lifestyle”. This simple phrase should serve as the basis for your vision, but additional questions and clarifications are necessary when defining exactly what you would like to accomplish in the time frame you set for yourself. These questions are infinite, by nature this is a personal process that looks different for each individual. Some people turn to consultants, while others take a DIY approach. In either case, attaining clarity through writing out a specific, comprehensive, actionable personal vision statement is of the utmost importance when planning for the future of your business and attaining the lifestyle that you deserve.
A personal vision serves as the first official building block of a strategic plan for your business. It clarifies and explains the owner’s motivations and ultimate goals while also outlining what that end goal feels like. However, this isn’t the only part of a business plan that needs to be written down and defined. In future posts, we will discuss the other vital aspects of a comprehensive business plan, and how you can get started either building or improving yours!
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About A&E Advisory
A&E Advisory helps small businesses to midsize enterprises regain profitability, organization, and discover new levels of success. We are a boutique business advisory firm assisting both new startups and established companies.
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