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Wednesday 2 November 2011

Managing a High Growth Business: Getting your Vision Right

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Getting Your Vision Right 
I have worked with many high growth businesses and contrary to much of the published research it is clear that many owners of successful and high growth businesses do not have a clear vision of where they want to go or indeed and why they should need  to know.  Many of the business owners I have worked would describe themselves as accidental success stories. That is to say they can't explain why their business is consistently successful or what actions they put in place got them to where they are now. However what is common, they all recognise that this is not a satisfactory state of affairs. Formalising their thoughts into a vision is not just an academic exercise it is important to be able to articulate why you are business. 

A vision is not about targets or goals, it is about the reason you are in business for example Disney's vision is simply "To make people happy" Whilst Google's is "Make internet advertising better - less intrusive, more effective, and more useful" Kelloggs is  "To be the food company of choice"

You will all have some kind of vision in your head but to communicate it effectively to your staff and the outside world it needs to be put down on paper, in doing so it will help you clarify your vision. You will see from the examples I have shown that a company vision is not about targets or goals but why you do what you do and how you do it. It should not change and it should be just as valid whether you are a 5 person company or a 5000 person company. It should be timeless.

Getting your vision right is important for any business, but for a fast growing business it is essential. Having a vision will provide the common sense of direction that will focus peoples’ activities to the benefit of the business. This common purpose is vital for the maintaining of consistent fast growth.

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Exigent Consulting provides specialist services for High Growth Business Business Turnaround, and Mentoring to the Small and Medium Business. We help Business Owners improve the profit performance of their business.