|Is Your Business Vision Confusing?|
Young or Old Woman?
So what is a Vision and who own it?There has been lots written on this topic and for many entrepreneurs going into business for the first time, it just becomes too complicated and ends up as some misconceived paragraph on a piece of paper.
Let me put it to you, that your customers will own a Vision of your business whether it is the one you created or something totally different.
If I ask you what the vision would be for your local discount store E.g. Cheap-As-Chip, more then likely you would tell me “They have a limited range of budget price products, basic service etc”.
So there you have it….you have a “Vision” of your local discount store and your customers have a vision of your business too. Is it the same as the one you think they should have?
For the discount store, there is nothing wrong with it's vision if that is what they want their customers to perceive. They don’t want you asking them for the latest and greatest in computer technology and you wouldn’t even consider them anyway. That makes it’s a good Vision.
You could say your Vision is an external statement…one that you want your customer to own.
The “Mission Statement” a.k.a a “Business Strategy” on the other hand is the internal statement of how you will achieve the Vision. Lets look at your local discount store again. It's Mission Statement may read something like this.
“We will purchase using volume discounts, provide limited options, focus on lower cost line items and our stores will be outfitted with basic store fittings and operated with minimal skilled personnel to keep the overall delivery cost lower.”
If the local discount store started to price products at the same level of you higher quality products then their customers would be confused and stop shopping with them. This is why it is so important to have a clear and attainable Vision as every decision you make in your business must reflect that Vision.
Do anything else and you risk alienating your customers.
Next question. Are discount stores really discount stores? Think about it!