According to Collins and Porras writing in the Harvard Business review in 1996, their study shows that companies with a great vision outperform those without one by a factor of 12. That should be compelling enough for business owners to put in the time and effort to build a real vision.
The challenge though is threefold:
a) Do I believe I will get better results with a vision – really?
b) How will I commit the time to understand the differences between a general overarching statement, a mission statement perhaps, or an ethical code and a ‘vision’ (which sounds slightly hallucinatory), and
c) How can I go about it anyway?
I have recently come across 2 interesting perspectives here.
One is Simon Sinek’s ‘Start with Why’ as a leadership model to rally employees and customers to your product or service.
The other is the article referenced above which describes the components of a Vision statement.
I think the two go hand in glove and with the right coaching will produce a compelling story for your company.
See next blog for the ‘how’.