How to create a compelling vision for your company.

Recently I was working with a group of business owners helping them craft their compelling vision.  Every great company is powered by a compelling vision. It usually is an expression of the founders of the company. It energizes everyone in the company to become more and strive for more. It clearly communicates the WHY that powers the company.

A powerful vision inspires you and your people. It gets their juices flowing. It attracts others to you, be it clients, vendors, partners, employees and investors. It gives us tenacity to strive forward even in the midst of adversity. The pursuit of the worthy vision transforms you into a better expression of who you can be. It grows you as a person. It helps contribute beyond yourself, thereby giving you deeper meaning and satisfaction in life. It helps tap into your spirit! So how does one create a compelling vision for your company?

Jim Collins and Jerry Porras, bestselling authors and management gurus, say that there are 2 components to every great vision:

  1. A core ideology
  2. An envisioned future

Each of the above can be broken down into a further 2 parts:

Parts of a core ideology

  • Core values – These are values that the company lives by. These are ones that they value is good by themselves and they would even consider changing their business model to ensure that they are living by these. For example one of Tata’s core values is trust. One of Disney’s core values is wholesome entertainment.
  • Core purpose – This is the key reason why the company exists. For example Tata Group is committed to improving the quality of life of the communities it serves. Disney’s core purpose is to make people happy. What’s your core purpose?

Parts of the envisioned future

  • BHAG – The Big Hairy Audacious Goal, a term coined by Jim Collins, refers to a goal that powers the company and it looks to achieve in the next 10-30 years.My BHAG, when I first started BNI India, 11 years ago was simple – to help 100,000 entrepreneurs become crorepatis through the BNI referral system, so that they could employ 10 more people in their company, so that we could create 10 lac jobs and thereby we could positively impact 10 lac families across India. At the time, when I set the BHAG, BNI worldwide had 90,000 members in total, so my BHAG was a real stretch. My colleagues laughed at me.

    A good BHAG should have a “gulp” factor. It should equally excite and scare you. Part of you should say “That’s nuts!!” and part of you should say “imagine for a moment if we achieved that – how incredible would that be?”

  • A vivid description of the envisioned future – Paint a clear picture of what the world would look like when you complete your BHAG.Who would we need to be as individuals and as a team? How would the world or our target market be better as a result of us?What are some of the key milestones we would have achieved on the way to achieving the BHAG?

So what’s your compelling VISION? How are you positively going to impact the world? Leave a comment below.

[Slide Deck] How to Lead and Manage Winning Teams

Clarify priorities, Increase Engagement & WIN!

HOW TO MANAGE WINNING TEAMS – Created with Haiku Deck, presentation software that inspires

Leading teams that are clear about what needs to be done, who play full out and achieve their goals is every leaders dream. While most business schools tend to focus on strategy, entrepreneurs really struggle with execution. Management guru, Ram Charan says that 70% of strategic initiatives fail because of poor execution.

So why is executing difficult? Execution is difficult because there is a battle between the URGENT vs IMPORTANT things. Let’s look at these in more detail:

Urgent work is the daily work – operations, support, sales etc. Urgent things drive us. We tend to react to these things. Onthe other hand important things are our goals – Where we want to be. This is what we drive. Unfortunately we are busy being busy. Urgent work always wins over important, unless we develop some key disciplines to help us execute.

There are 4 tried and tested disciplines to great execution that have been identified by authors Chris McChesney, Sean Covey & Jim Hulling in their excellent book: “The Four Disciplines of Execution” 

  1. Focus on the Wildly Important Goal (WIG)
  2. Act on the lead measure
  3. Create a compelling score board
  4. Cadence of Accountability