Christian Brim, CPA, is CEO of Core Group. Grow profitably.
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Entrepreneurs see things as they could be. That's their gift. "Vision" is defined as the "act or power of imagination" and the "mode of seeing or conceiving" with "unusual discernment or foresight," according to Merriam-Webster. But how does an entrepreneur stop their vision from becoming a delusion?
I believe two key factors affect how entrepreneurs see their vision: The first is the fact that many entrepreneurs fear they're imposters and become scared they'll fail. This past year, a study of more than 600 entrepreneurs found 84% have experienced imposter syndrome, or the idea that they don't have the knowledge or ability or perform their roles adequately. But from my perspective, it's natural to not have all the answers. To me, that's a byproduct of having a vision. After all, if someone already had the knowledge or ability, they wouldn’t have a vision; they would simply be facing reality.
The second factor is that, as John Roa wrote in A Practical Way to Get Rich and Die Trying, entrepreneurship is inherently selfish. Without placing any judgment on whether acting selfishly is good or bad, we have to agree with the premise. There's a lot of talk about Simon Sinek’s "why," and I'm a firm believer in understanding your personal and business passions and purpose. In reality, the "why" is simply a rationalization to justify the emotional need to create something. Because entrepreneurship is selfish, it's very difficult to bring others into it. It's difficult to reconcile that you're doing something for your own needs (i.e., your vision) with the impact that it has on others.
So, what's a leader to do when it comes to pursuing their vision? Here are some practical suggestions on how to keep your vision from becoming a delusion.
Paint the picture.
In my personal experience as an entrepreneur, your company's growth is limited by the vision and how well it's understood by everyone on the team. If the person who answers the phone can explain the company's strategy in two words, you have rocket fuel. Anything less than that is suboptimal.
This is why it's important to ensure you're painting a clear picture of your vision, as this will help everyone in the organization support its growth. For years I struggled with simplifying our business strategy into two words. When I finally landed on "grow profitably" as what we did for clients, everyone in the organization knew exactly what we were about.
There are tools that can help you with this if you're also struggling. For instance, I'm a fan of Cameron Herold's "Vivid Vision" tool, which requires you to detail your vision in a way that it can be shared. This tool helped me realize that parts of my company's vision weren't clear even to me. And how could I share something that was not even clear to me? Another tool from Cameron Herold that I found helpful is the "Decision Filter," which requires you to clearly define what "success" looks like for an idea and the impact of that success. I’ve completed several Decision Filters for various ideas I've had and put them in the trash without even bothering my leadership team because I saw they weren't viable.
Involve others.
You can’t read the label from inside the jar. From my perspective, a key element of maintaining your entrepreneurial vision is involving others. You likely can't achieve your vision entirely by yourself, and others can hold you accountable to the vision.
There are many routes you can go to gain help from others. I personally have been involved with an organization for entrepreneurs and have participated in a small group forum for more than 10 years, which have been invaluable experiences for me. My personal growth also really accelerated when I hired a personal coach. A coach, in my definition and expectation, is one who sees things in you that you can't see. And if you don't prioritize your own personal development, I believe you'll limit your company from reaching your vision.
Look at important data.
Yes, data can be dull. And, yes, I realize that logic and data are limited in their ability to solve problems. To determine whether your vision is viable, however, you have to have objective data. The data isn't going to tell you how to fix the problem, but it'll tell you whether you’re on the right track. This data should be both financial and non-financial, and it should be tracked weekly, monthly or quarterly.
One set of common non-financial metrics is marketing. What's the deal pipeline? How many new leads are you generating, and how many convert? Knowing this type of information is key to determining whether you're on track with your vision before you see any hits in financial statements. You don’t go on a journey without basic information, and you don’t attain a vision without data.
Final Thoughts
Be crystal clear on your vision, and simplify until it's a simple statement, ideally one or two words. Make sure it's communicated to everyone in the organization. Then monitor it constantly to make sure you aren't drifting into fantasy land.
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