Vision, Values, & Mission Statements… Why YOUR business needs them?
For the past few months our house has been under construction with interior renovations. I will share the list of the items being tackled so you understand the extent of the madness; apply new fireplace stone and slate, paint the living room, dining room, and kitchen, lay new flooring in all three rooms, paint all kitchen cabinets, and install new windows and trim. It’s exciting times watching it all progress but sometimes confusing as we manage the project ourselves. My husband and I have two very different project management styles and to say the least, it has been challenging at times, but when we manage to stay calm and focus on the end goal, (for clarity, the end goal is to increase the value of our home, enjoy the aesthetics of our renovation, and remain happily married at completion), we work better together. When we speak or act in the moment we make bad decisions and sometimes act poorly, just being honest. As a business owner, when you act or speak in the moment I bet you can make bad decisions too? So how do we stay focused on the end goal, (in life and business), and not let situations, circumstances, or a difference in management styles impact our progress towards the goal line? Having a few things will keep you in line and give you the best chances to reach your desired goal.
NEXT LEVEL Consulting believes that having a clear vision of where you want to be at specific intervals in your business, (1-year, 3-year, 10-year, etc.) will help you stay focused and motivated because you know that everything you do on a day to day basis contributes to this vision. Like the renovations in our home, you need to be aware of your end goal and why you are in business. Once you declare that, every choice you make should be working towards that goal. When my husband is completing a task that is in his skill set and not mine, I need to remember to not place my deadlines and expectations on him or that will impact one of the completion goals, (to remain happily married). As a business owner, you need to remember that the choices you make today could impact your future options and possibilities. If you don’t have a Corporate Vision then you could be sabotaging your company. If you are currently operating your business with the intention to retire from the day to day operations but want to leave a trusted and well-developed employee managing it so you still have income coming in, then you need a strategy to handle the Recruitment, Training, and Development stage of said employee. You need to make decisions today that contribute to your exit strategy.
Throughout the renovation project, we have had a few value issues come to light. Being budget conscious and time management are just two of these issues. These two values work hand in hand, especially when managing what part of the renovation to do next. We made a significant financial investment in the flooring and the fireplace stone. We wouldn’t install the fireplace stone and THEN change the windows and the trim out that is located right beside the fireplace. If we made this choice, we would be replacing the stone again when the windows got replaced and it would cost us more money. Having a perspective that includes the project in its entirety, and how each part contributes to forward movement, is essential if budgeting and time management are your values. Your values should help you and your business achieve your vision. Knowing what you the owner values, and then ensuring your team knows those values is smart business. Holding your team accountable to make decisions based on those values is essential as you progress towards your vision and end goal.
“Mission Statements sound like more unnecessary corporate jargon that I just don’t need!” I have heard this many times over and my response is usually “That makes sense if you don’t want anybody to know what you do, or how you do it, including potential customers or clients!” After they realize I am serious, a discussion usually ensues. If you can’t communicate what the purpose of your business is, then how could anyone ever know they need your business? Your mission statement should be a clear, concise, and relatable sentence or two that communicates what your business does. If you don’t have this then how can you possibly have a sales pitch, an elevator pitch, or even know where to begin with your marketing strategy or branding?
Everything in construction starts with a great foundation. If you’re completing a home renovation or operating your business, having a clear vision, strong values by which you operate, and a purpose that is understood, are essential if you want to weather storms or be the best on the block. NEXT LEVEL Consulting can help you with these areas if you need to start fresh, or just get started.
