NFIB

Where Are You Going?
04/ 08/ 2003

by Karen J. Bannan

It's not enough to simply say you want your business to grow 20 percent over three years. Instead, you'll need to identify exactly which clients you wish to reach and what services and products you'll be providing them with.

A vision statement changed the title character's life in the 1996 blockbuster film "Jerry Maguire," and with good reason. If part of being a leader is identifying where you've been, where you're going and what you want the trip to look like, then a vision statement is your itinerary to success. And if executed correctly, it can propel a small mom-and-pop shop into a high-flying corporation.

Suzan Satterfield, the president of Atlanta-based SaltRunProductions (www.SaltRunProductions.com), is reaping the benefits of her company's recently revamped vision statement. Satterfield, who founded the television production company, says her vision statement helped her realize that she could fulfill both her spiritual and business goals at the same time.

"I realized when I was writing the statement that I wanted to do the kind of television production that I could be proud of. Before the statement, I had some doubts about whether I could do that," she says.

Satterfield set specific goals for herself and her company, something that business coach Mariette Durack Edwards says is key. Durack Edwards counsels clients to create a statement that covers who they want to be versus what they want to do, including what effect their businesses will have on others.

It's not enough to simply say you want your business to grow 20 percent over three years. Instead, you'll need to identify exactly which clients you wish to reach and what services and products you'll provide them with. Financial goals should be secondary.

"Some people only think about money, but business is so much more than just money. A business has to be an expression of who you are," says Durack Edwards. After you've decided your goals, the biggest obstacle to creating a vision statement is clarity, says Durack Edwards.

Many business owners have an idea of where they want their business to go, but they can't succinctly convey it. Get a reality check on your statement by asking friends and customers if your statement is a reflection of your business.

After you've written the statement, dissemination--to your employees, friends, colleagues and customers--is key. The easiest way to get your message out is to appeal to the same things others value. Employees are more likely to get on board if your statement includes goals for your entire staff--for example, adding five new sales positions or giving back to the community through mentoring.

Even after you've explained your vision statement, Satterfield says it's important to review it on a daily basis. "I stuck mine up on the wall by my desk," she says. "It sometimes surprises me. I look up and remember, "Oh, yeah, that's the kind of business I want to be.'"

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This article originally appeared in the April/May 2003 issue of MyBusiness magazine.

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