5 Things You Should Know to Shape a Vision for Your New Business.

Your Business Vision - 5 Factors to Consider.

How do you see your business? What will it look like the day you start up? After 1 year passes? 2 years? 5 years? 
To increase the likelihood that you will succeed over the long haul, answer all parts of that question for yourself. Write it down. 

Oh, I know, it is much easier and simpler just to get things going. Unfortunately, that's a short-sighted perspective. Remember: The easy path rarely serves you well. Did you win any little league games without practicing with your team? How about learning to play piano -- or whatever your musical instrument of choice may have been? Practice may not make perfect, but it definitely makes it better. 

How you define your business' vision will shape your mission for it. The two together will shape all of the marching orders for both you and any employees you hire.  If you start marching without it, you will eventually hit an immovable wall.

Below is a starter list for bringing your vision into focus.

  1. Who will your customers be? 
    • What will you provide for them? 
    • What will, and should, they expect from you? 
  2. What range or scope of products and services will you cover?
    • Caution: Your business cannot be all things to all people.
      See this SBA overview on "Finding a Niche."
    • Start with what you are truly good at. 
      • Stick to that. 
      • Be able to do that with excellence. 
    • Expand after you master the step above.
  3. Do you see yourself with employees? 
    • How you answer this will drive many factors - not the least of which is your Business Plan
    • Will you have them Day One or hire them later? 
  4. How big will your company grow? 
    • Is the sky the limit?
    • How many employees would be too many for you?
  5. At what point in time will you leave your company? 
    • Retirement? Will you stick around as an Emeritus? . 
    • Will you, or can you, leave your children in charge when you leave? 
    • One of my clients is led by a 2nd generation descendant. Oh yes, and Grandpa Tippy, President Emeritus, has an office -- but rarely uses it. The firm is in good hands.

Lay out a chart for yourself and answer these questions for each phase of your business. Keep it simple. You can make notes in a spiral notebook. Just make sure you get it done. Then, and only then, start your business. 

DMMI Associates is here to help you to find and use the best possible business growth resources available to you.  

E-mail us for help with getting and keeping your business running well.  

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