Introduction
Welcome back to the Entrepreneur Mindset Podcast!
In business, it’s often said that you need a clear vision in order to be successful. But what does that really mean? And what’s the difference between vision and strategy? In this episode, I’m going to explore the difference between vision and strategy, and why both are important in business. We’ll also discuss how to develop a clear vision for your business.
The Difference Between Vision and Strategy
This past month I sat down with a marketing agency and we were talking about my business. We were discussing the vision, what I was doing and offering, where the challenges were that I perceived, and even what I wanted to have happen because of our partnership. We also talked about strategy on the call. This is where I had a little hiccup.
The person I was talking with was suggesting a strategy that I didn’t love, but here’s the thing. The strategy was sound. It was a good strategy, but I was thinking about my vision and not seeing how the strategy would actually get me to the vision. The strategy seemed to be counter to the vision, but was actually the piece that needed to happen for the vision to become a reality.
It was this moment that led to today’s podcast episode, because if I have a course covering building a vision and talk strategy all the time with my Coaching Hive Elite clients and can still get tripped up in the moment, then talking about the differences between vision and strategy seems like a worthwhile topic for us to discuss.
Vision
Let’s talk first about a business vision and then we can look at the concept of a business strategy because in order to create a successful business strategy, you first need to have a clear and concise vision for your business. This will act as a guiding light for everything else that you do.
Your vision is going to be the guiding force for your business and is rooted in 8 core components. Your values, your dream, your client base, the design you want for your business, the support you’ll employ, professional development that you’ll pursue, self-care that creates sustainability, and a financial plan for what your business will bring to your life. These components all come together so that you have a framework against which you evaluate options and ideas for your business. If the idea takes you away from your vision, it might not be the best approach or opportunity at the time. If it helps your vision become a reality then you can dig in deeper to determine if it is a good fit.
So your vision is the foundation of your business and is where you are headed with your daily activities.
Strategy
The strategy is how you get there. The strategy will include goals, both short and long-term and need to be measurable and specific. When you have SMART goals as part of your strategy, you can determine if your strategy is working or not. The goals are rooted in your vision, which is why your vision comes first.
Once you have your vision and goals in place, you need to put together a plan of action. This will outline the steps you need to take in order to achieve your goals. Finally, you need to monitor your progress and make adjustments to your strategy as needed. By following these steps, you can develop a successful business strategy that will help you achieve your desired results.
Your strategy gets you to your vision. Sometimes it can look like the strategy differs from the vision because sometimes you have to take a circuitous route to the vision. That is where I had a little hiccup with the marketing agency. I was thinking very linearly and completely forgot that sometimes you have to take the winding path to get to the vision. Sometimes the winding path is actually faster and more effective. But you won’t know that without a solid vision and strategy in place that can be tested.
Action Item
So this week, I want you to think about your business. If you haven’t visited your vision in awhile, go back and check it out. See if you need to make any revisions. If you don’t have a vision for your business, you can check out Episode 66 as well as Episodes 45-48.
If you have an up-to-date vision then take a step back and think about strategy. What goals do you need to put in place for the vision to become a reality? How are you going to meet those goals? What tactics and approaches will help you achieve success?
As you go through this process, remember to be open-minded. We are always taught that the fastest way from point A to point B is a straight line…but in business things are rarely that straightforward. Don’t be afraid to add in a few loops or curves if it makes sense!
I can’t wait to hear about the action you take.
Conclusions
Now that we’ve spent a little time talking about vision and strategy, I hope you are getting excited about the next steps in your business, whether that is finishing up a course, starting a membership, or creating a new coaching program. The key is to take action and then adjust.
As you take action on your vision and strategy this week, let me know what roadblocks you hit and I’ll be happy to help you troubleshoot. Just send me a DM on Instagram or Facebook at Entrepreneurs in Flow.
And I will see you back here next week for another episode of the Entrepreneur Mindset Podcast, where a focus on mentoring, community, and implementation removes the overwhelm of building your successful and profitable business and adds in a dose of momentum.
Until next time, have a healthy, safe, and happy week.
Show Resources:
Vision Episodes:
- Episode 66: https://www.digitalcoursecreatorguide.com/podcast/coaching-hive-blueprint-the-foundation-of-your-business/
- Episode 45: https://www.digitalcoursecreatorguide.com/podcast/vision-and-planning-reflecting-on-the-past-year/
- Episode 46: https://www.digitalcoursecreatorguide.com/podcast/vision-and-planning-the-big-goals/
- Episode 47: https://www.digitalcoursecreatorguide.com/podcast/vision-and-planning-quarterly-goals/
- Episode 48: https://www.digitalcoursecreatorguide.com/podcast/vision-and-planning-clarity-for-a-new-day/
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