If you are a business owner or for that matter, a sales leader within a business or even an individual producer, have you ever taken the time to fully define and visualize where your business WILL be five years from now? Not where you HOPE it will be in five years but exactly where it WILL be at that point in time.
Just about every business owner, sales leader or individual producer has at least some general idea of where they hope to be and are working hard to get there. Many have broken that down into realistic goals and timelines and are holding themselves accountable to those. That is all great, but it is not enough.
You need to fully visualize down to the most minor of details exactly what the business will look like in five years' time. Sure, many things will change in that time and especially if you are currently a startup and you will need to be able to adapt and adjust with those changes but you still need the big picture vision.
I am not talking about a 2-3 hour session putting together goals and milestones. I’m talking about a weekly investment of at least 1 hour a week (2 hrs minimum a week if you are a startup). That time should be spent planning, visualizing and documenting the future state of your business. This should be a permanent part of your week and not just for the short term but continually throughout the company’s lifecycle.
If you are a business producing $5 Million in annual revenue today, it is one thing to say you would like to see the business at the $10 Million mark or maybe you even aspire to grow to $20 Million or more in the next five years. You might even have the historical growth performance that indicates you should be able to get there. But it is another thing entirely to produce a comprehensive visualization of exactly what the business looks like in that future state.
Creating a comprehensive visualization for the future state of your business is actually harder than it sounds… if you do it right.
The majority of larger companies ($30M to $500M+) have a 5-year plan and many are incredibly detailed. They have budgets, projections, headcount, departments, sales, operations, facilities, finance, and just about every area covered with a view of where those should be in the future. Almost every one of those plans was a combination of several people’s efforts. They get input from Sales Leadership, Operations Leadership, Finance, HR, and others. But if you are a small business of less than 50 employees or a business of one, your plan doesn’t need to be anywhere near as detailed as that and really it is just you and maybe a partner or two compiling it, right? Wrong. Your visualization and documentation for the future state of your business needs to be just as detailed and comprehensive as the big guys if you want to get to the future state you desire.
It is all about getting down to the absolute details for each area and forcing yourself to answer the difficult questions and not just at a high level “we’ll cross that bridge when we get there” kind of way. If you don’t stop at least a few times in the process and think that it is getting somewhat ridiculous the level of detail you are documenting, then you aren’t going deep enough in your planning and thought process.
Success is in the details, timing and execution.
Over the coming weeks, we will be covering this topic of Visualizing the Future State of your business and get into detail on the process we use when we work with our clients for their Strategy and Vision.
If you are interested in diving right in and having a guide to assist and advise you along the way, we are happy to help. Our Ignite Growth Program is designed to not only help with this Visualization of the Future State of your business but to implement strategic and tactical steps along the way to Ignite your next level of company growth.