Contributed by: Gilligan Sheppard.
We’ve all planned holidays at some point in our lives. We envision what it will look like and anticipate how it will feel. That vision gives us something to look forward to and an incentive to do what we need to get there.
In a business context, the vision is where you want to be and what you want to be seen as or achieve. It could be long-term or even infinite. It’s what inspires your team to get out of bed and walk through the door every morning. The vision should always guide strategy and goals.
Why is a Vision important?
Rarely do we get into a car to just drive around randomly and return home. We get in because we want to go somewhere. A journey is always more fulfilling when we set our sights on a destination that we truly desire. Once we know how much it will cost and how much fuel is required, we can plan the best, fastest or most efficient way of getting there. We will also know when we are going the wrong way.
When it comes to business, the vision conveys where the business wants to go and the feelings it will evoke for everyone involved. Having a clear understanding of the business’s desired destination will serve as a guide to developing strategies and achieving goals and milestones along the way.
How do we develop a Vision in a business?
No matter the size of your business, take time to envisage what you want your business to look like in three to five years.
The process can be led by the owners, founders, and/or leadership team. Often, it makes sense to build a vision based on the strengths of the business or venture. However, if you feel an important part of your vision is not a key strength at the time (i.e. such as raving fan employees or customers), put it in any way. This will force you to include them in your strategic plan. All those around the table should be given a chance to share their thoughts on the vision and be open to being challenged on this. This process should allow fine-tuning of a vision so as to get alignment from all key stakeholders, such as business owners/partners.
It’s a fast-paced world we are living in. Disruption and opportunity are more frequent than we have ever seen. It is important that every year your vision is reviewed to confirm if it is still where you want to go. Has anything changed that requires a re-think? Using the holiday analogy – if there is suddenly political unrest or a civil war, you may want to re-think your holiday destination. Alternatively, a better deal may come up, which means you can stay somewhere better or add more activities.
Communication is key
There is no point in developing a vision just to put it on the website or a wall. Purpose and vision must be kept alive by ensuring it is referred to wherever it is relevant. It should be the reference point when developing purpose, goals and strategies and reviewing the progress of these. It should be a very important aspect of recruitment and onboarding. Leadership and management should refer to this as a guide during decision-making. This ensures everyone is rowing in the same direction and heading towards the planned destination. So having a communication strategy is pretty important.
Gilligan Sheppard’s five-year vision is “To be recognised as New Zealand’s best enriching environment for talent, wealth and business.
Everything we do must contribute to achieving our vision. We focus on building deep relationships that go beyond numbers, adhere to collaboration over competition, grow our people according to their individual aspirations, and provide our clients with tools and opportunities to enrich their own businesses and lives. Do you see how focusing on activities in these areas aligns with our vision?
Author: Joshna Mistry – Value Added Services Team Leader, Gilligan Sheppard
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Contributed by:
Gilligan Sheppard Public Accountants
PO Box 6310
Wellesley Street
Auckland
NEW ZEALAND
Website: https://gilligansheppard.co.nz/
Email: admin@gilshep.co.nz
Phone: +64 9 309 5191
