Just for a moment, consider the following press release headlines:
"Company X Receives Top Marks in Bloomberg Article..."
"Company X Ranked #1 Global Provider...Second Year Running"
"Company X Acquires Leading Provider of..."
"Company X Launches Philippines Operations"
"Company X Names Industry Veteran as Vice President..."
Now imagine what it would feel like to be the founder of Company X. For one Growthink client, Liam Brown, this isn't a dream - it's a reality.
A few years ago, Liam had the vision to come to Growthink for assistance with a business plan for his vision - a company named Integreon
. Liam, with a solid business plan, turned his vision into a business, raised capital, and attracted a highly motivated work force. Today, Integreon is a leading business process outsourcing (BPO) service firm that employs over 2000 people, with offices ranging from Mumbai to Fargo and New Delhi to midtown Manhattan.
Even with an amazing business plan, heights and milestones like the ones listed above cannot be achieved without vision. Simply put, you must have a vision of where you want your business to be in the future. You must be able to communicate your vision in an exciting manner to employees and investors, so that they too share your vision and are motivated to help you achieve it.
Unlike your business plan, your vision doesn't provide a specific roadmap for your business. Rather, your vision paints a picture of what the your business strives to become in the future. A leader with a strong vision motivates his or her team to achieve this picture, regardless of the action plan that will be employed.
Vision provides motivation to both the leader and employees. It gives employees something that they can believe in and rally around. While it doesn't tell the employees exactly what to do to achieve it, having vision instilled in them helps positively mold their decision-making when problems must be solved that don't have clear answers.
A strong vision combined with a strong business plan is critical to the success of a growing venture. The vision motivates everyone to achieve success, while the plan guides them to where they need to go. In addition, the plan is significant in that it documents the vision. By "cementing" the vision on paper, the team gains more confidence that the vision will not be easily changed and that the organization is truly committed to achieving it.