Posts Tagged ‘owner’

6 Challenges Fast Growing Companies Face

Tuesday, August 28th, 2012

I’ve mentioned Inc. magazine www.inc.com several times before. It’s a great resource.

There’s a well-researched article in the current issue about 6 challenges fast growing companies face. They’re all about execution – and if the owner doesn’t deal with them well any one of them can be fatal.

1. Your business outgrows its staff. One or more hard working, loyal employees who had the skills required to make a great contribution when they joined the company can no longer deliver. Owners are torn, knowing that the business wouldn’t be where it is without Joe or Mary – but that they just can’t cope and are hurting the company now. The solution needn’t be just to let them go but the owner needs to deal with the situation quickly and honestly.

2. You wait too long to hire.  A classic dilemma. Hire people before you need them and you add to overhead and risk having to lay them off if the orders you thought were coming don’t. The alternative is to risk service and credibility if the business does materialize. One solution – hire all-rounders who you can train and slot into more than one position.

3. Your business lacks the right systems. Two potential causes here. Either you don’t implement processes and systems quickly enough or the system you chose doesn’t work as advertised. I know which one frustrates me most – the latter. There’s nothing worse than dealing with implementation problems and delays – so have a solid contingency plan in case it happens.

4. You run out of money. We’ve said it before, and I’ll say it again, the most important document for a business owner is a cash flow forecast. Keep it up to date, study it often and it will provide the information you need to stay out of trouble. Because growing companies have to invest before invoices are cut, never mind paid, they become less, not more, liquid.

5. You can’t keep up with demand. This is the most dangerous point for fast growing companies according to the article. The owner takes on debt to finance additional capacity – or people – and the demand doesn’t appear. According to the author the best solution is to manage growth so that it happens in small rather than large increments. But that’s not always easy to do.

6. The problem is the owner. If you’ve built a company – i.e. been successful – why would you have to change? That’s a reasonable question. But I notice, after 15 years of working with business owners, that the ones who grow their companies successfully are the most open and willing to change themselves. If the business can outgrow an employee, why can’t it outgrow the owner?

You can read the full article 6 Classic Ways to Crash Your Company here.

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6 Thoughts For Your Planning/Budgeting Process

Tuesday, August 21st, 2012

Can you believe that it’s almost the end of August?

I’ve hardly noticed the summer slipping past – perhaps I dozed more than I intended because of the heat!

It’ll be Labour Day in 2 weeks.

Then kids will be back in school which, for many business owners and executives, will mean that vacations are over for another year and it’s back to work. If your company has a calendar fiscal year, 2012 will be beginning to take shape.

The results from the first two quarters should be firmed up. Orders already in-house and the sales pipeline will provide an indication of whether you will make, or beat, your top line targets or whether there will be a shortfall. Year to date margins and expenses will give you a feel for what, if anything, has to be done to protect bottom line profit.

And, of course, annual planning and budgeting for 2013 will begin soon – if it hasn’t already started.

So here are some thoughts (I’d hesitate to call them pearls of anything, let alone wisdom) from posts I’ve written at around this time of year in the past.

1. To make as accurate a guess as possible about what the future holds you’re going to have to make assumptions. On what information will you base them? Something you read – or are you going to get out and talk to your customers and suppliers about what is happening in their world and what that will mean for you?  (See Don’t Let The Summer Heat Cause A Winter Chill)

2. When so much of what is going on around you seems out of control, it’s easy to stop focusing on the things that are under your control – i.e. whether or not you actually execute your plan. Badly done or completely neglected by many companies, execution is what turns plans into results. (From 6 Tips for Getting Better Results Next Year)

3. In this age of fast, unrelenting change it makes sense to forecast several different scenarios, build assumptions on thorough, comprehensive research (formal and informal) and think through contingency plans. (See It’s THAT Time of Year Again)

4. A sample of responses to a survey sent to our database showed that many companies who said they would miss their targets also said they had completed a structured planning process before the start of the fiscal year. That raises some questions. (See them at Give Yourself A Chance in 2011)

5. The owner must be the champion of the planning process. If, for example, the accounting department are perceived to be driving the process it will be seen as only a number crunching exercise, to be completed as quickly as possible. (See More Heat Less Chill)

6. Think you’re going to miss those top and bottom line targets I mentioned earlier? Then consider changing or modifying your strategy and business planning process. Why? Because if you use the same tools, in the same way, and expect a different outcome you may be in for a surprise. (See Don’t Fool Yourself……… )

Let me know what you think.

And good luck with your planning/budgeting meetings.

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Why Would Anyone Hire A Management Consultant? – Part 2

Tuesday, June 26th, 2012

In my last post I talked about how owners of companies can find themselves faced with situations they haven’t encountered before – and not realize what’s happening.

After all, that happens in our personal lives. Remember the first time you fell in love?

We’re caught up in the symptoms – the tune playing endlessly in our head, the face we can’t get out of our mind and the grin we can’t wipe off, no matter what else is going on. How many of us simply didn’t understand what was happening? I don’t know about the ladies but believe me, none of the men did!

Sometimes it takes someone who has already had the experience, to alert us to the situation.

Think for a moment about a company with between $3 and $5 million in annual revenues and which has been in business for anything from 5 to 20 years. The owner is successful by any measure. They’ve grown their businesses to a respectable size, provided employment for others and beaten the odds of failure.

But then things start happening that many of them have never encountered before.

I’m So Frustrated

For example, in companies of this size the owners are typically directly involved in everything that happens. That may work well for a time, but eventually either the volume or the complexity of the business reaches a point at which no human being can sustain the effort required.

That’s when we hear them say things like “I’m just so frustrated!” When we ask why, typical responses are “I’m working 16 hours a day, 6 or 7 days a week – but sales aren’t going up.” Or he or she often feels that they’re not paid enough for hours they work. They only want to work 4 days a week in the summer and take more vacations with their families.

Because they’ve been successful up to this point, they believe they can figure it out for themselves – overlooking the fact that this is a situation they haven’t encountered before.

Some may try developing (or hiring) supervisors or managers to take work off their shoulders. But it isn’t successful and they feel it isn’t worth trying again.

But a consultant, who has had experience delegating and working with a management team, knows that it isn’t something that comes easily or naturally to most people. He or she can help the owner select competent team members and get them working together effectively.

A Victim of Their Own Success

Business owners can also be a victim of their own success. For example, adding a new distributor can result in sales growing so quickly the company can’t cope.

This leads to a dramatic increase in customer complaints – about customer service, quality, delivery or all three. And the owner is caught in an endless cycle of dealing with urgent, day-to-day issues and juggling operational balls.

An experienced consultant can see beyond the symptoms, help the business owner break out of the cycle and put processes in place to maintain control of key functions.

I don’t want to take the romantic analogy too far and suggest that a management consultant could be a business owner’s best man (or woman). Even I realize that may be stretching things a bit!

But there are times when getting an objective, third party opinion could be the best thing to do – no matter how difficult or unlikely a solution it seems.

 
If you enjoyed this post you’ll also enjoy 3 Reasons Why Consulting Assignments Fail Part 1 and Part 2
 

 

Do You Know What You Don’t Know?

Friday, March 16th, 2012

It’s really important to know what you don’t know.

But it’s even more important to be able to admit it to yourself.

When I started my company almost 10 years ago I made a list of everything the consultants I’d hired in my previous life had done which annoyed me.

ProfitPATH’s values statement is to do the opposite of everything that is on that list.

Something that really annoyed me was….

….having a consultant tell me that they could do something when they knew there was someone else out there who could do it better.

It meant that I paid them to learn, or perfect, a new skill or technique. Then they inflicted a sub-standard (compared to the more knowledgeable or experienced third party) performance on my company.

In the best case they wasted time, slowing me down while they got up to speed. Meaning it took me longer to achieve the results for which I was accountable.

In the worst case they didn’t master the topic or process well and that adversely affected our performance.

I felt so strongly about this type of behaviour that it was near the top of my “hate” list.

Not doing it became one of our primary values. One, I know, that has cost us revenue over the years. But I’m comfortable with that – we didn’t get into consulting for the short term and we’re not in it for the short term now.

But what happens when…

….a business owner, a potential client, knows what they don’t know – but won’t admit it to themselves or anyone else?

One of the things I’ve learned, now that we’re the consultants, is that this situation does arise – in companies of all sizes.

In my experience there are 2 possible outcomes.

The first is that the owner will go ahead and make decisions or take the company into areas that they’re not equipped to deal with. And, sooner or later, they will make a mistake.

How wide ranging the impact will be depends on a number of factors.
In the best case it might mean a minor setback. In the worst case it could seriously affect the company’s ability to operate and the livelihood of the employees.

The second possible outcome is that, rather than seek out or listen to advice, the owner will do nothing. It could be argued that this is the better alternative.

However, it’s not, it’s also a mistake. It means avoiding decisions, or putting a halt to initiatives, which could have benefited the company and the employees. And doing it knowing there are people out there who have the skill, knowledge and experience required to be successful.

If the owner continues to take this approach she or he could be the factor that limits the growth of their own company.

The moral of the tale is…..

My Mum used to say that 2 wrongs don’t make a right.

Here we have 2 different parties – consultant and business owners – doing the same thing wrong.

The result, the outcome will be the same. And it won’t be the best one for the company.

That’s just not right.

It Starts With A “Corny” Story

Friday, March 9th, 2012

Ever been in a situation when you see or hear something – and then a few days later you see or hear a variation of it?

That happened to me this week.

It started when I read a blog post called “What You Can Control in a Tough Business Climate” by Karie Willyerd.

A “Corny” Story

She describes how, as communism came to an end in Romania, bureaucratic decision making resulted in a cornfield being divided amongst local farmers.

Each farmer was given 2 rows.

They didn’t – or wouldn’t – collaborate so the results of each individual’s work could be easily compared with those of his or her contemporaries.

When the following summer came, the quality of corn which grew varied widely. Some rows produced knee-high, healthy plants. Others produced shin-high plants which were sad to see.

Willyerd’s point is that everyone had been given the same seed and fertilizer and so the difference in results was caused by the people and the decisions they made.

And now to business….

Next she describes a study she conducted with some colleagues.

The goal was to determine if simply executing a business strategy, regardless of what it is, would make a difference to the value of a company.

They focused on the 4 variables they believe are the foundations for the ability to execute. And they found that improving any of them produced an increase in the company’s value.

But they found that 2 of them – aligning goals throughout the organization, top to bottom and across; and identifying and treating high performers differently than low performers – produced the greatest increase.

Putting it together

Willyerd believes that in business, as in farming, there are many factors which can’t be controlled – e.g. drought and the performance of the economy.

So the key to success is to focus on those that can be controlled.
A company’s ability to execute its strategy is definitely one of those.

Two other controllable factors are:

  • Whether the owners, and their management teams, communicate explicitly with every member of their team and align them behind the company’s goals (derived from the strategy). If they don’t parts of the company may meet the business owner’s expectations, but others won’t.
  • People are the seeds of the growth, and ultimately the value, of a company. Owners should, therefore, surround them with resources and nurture them with benefits – particularly the high performers.

The Variation

As you know if you saw my last post, I’m reading Jim Collins’ book Great by Choice. In it he compares pairs of companies in 7 different industries to determine why one did well in uncertainty, even chaos, while the other did not.

Collins’ main theme is that the successful companies focused exclusively on the things they could control. And they kept on doing it no matter what was happening to the things they couldn’t control.

The final chapter talks about the role of luck – and it’s not what you might think (read the book)! In the summary, Collins talks about the importance of finding great people and building deep and enduring relationships with them as a means of creating good luck.

Final thought

You could argue that focusing on what can be controlled and getting good people aligned behind the goals is common sense. But, while Willyerd’s study confirms that they do produce results, Collins’ study demonstrates that companies routinely ignore them.

Where’s the sense in that?

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So Tell Me, What Is Strategy?

Thursday, November 17th, 2011

Look anywhere and you’ll see tweets, posts and articles containing the word strategy. Marketing strategy, social media strategy, sales strategy, financial strategy, meeting strategy – in fact every kind of strategy you can think of.

Strategy – and strategic – are becoming greatly over used words. And in some cases they’re being imbued with mystique and complexity in order to create a need for “expertise”.

Why should we care? I can think of 2 reasons.

1. Strategy should be simple.

A strategy shouldn’t be an ethereal concept or a complex by design – in fact quite the opposite. Look at the Wikipedia definition – “a plan of action designed to achieve a particular goal.”

What could be more straightforward? A strategy has 2 parts. Part 1 – designing the plan and part 2 – translating it into action which achieves a specific goal.

It sounds simple – but the mystique and complexity can start with the words and phrases that are used to describe the design part of business strategy. I’m thinking of environmental scans, key competencies, scenario planning, strategic options etc.

To be fair there are some companies and clients with whom it is essential to use these buzz words in order to be considered credible.

But for everyone else – particularly for companies which haven’t worked with consultants before – the strategy design process should be kept clear and simple.

Another thing I’ve never been comfortable with is the point of view that a strategy must be perfect, a thing of great beauty. Making things of great beauty is the job of artists and plastic surgeons. Business people need to be pragmatic.

Anyway, many strategies which were judged imperfect or impossible – e.g. Steve Job’s strategy for Apple in 1987 and Herb Kelleher or Richard Branson’s entry to the airline industry – resulted in great successes.

And if a strategy isn’t made to work, to deliver results, what does it matter how nice it looks or sounds – which brings me to the second reason we should care.

2. The focus should be on the translating into action, achieving the goal part.

Research has shown, fairly consistently, that the majority (around 70% by some estimates) of strategies aren’t implemented or they fail.

Assuming that at least some of them were practical and simple, and yet still were never turned into action, what chance do complex strategies stand?

And here’s something that has always struck me as ironic.

Some of the reasons for designing a new strategy or changing/adapting an existing one are outside the control of the business owner and his/her team – e.g. competitive action, changes in the industry.

But all aspects of translating a strategy into action are totally under their control.

Makes you think, doesn’t it?

3. Final thoughts.

A business strategy is the means by which owners achieve their vision for their company. To do that it can’t be shrouded in mystique or only be a thing of ethereal beauty. And it can’t be complicated.

A good strategy informs all parts of the company about what they must do and how they must work together. It translates into the specific actions that must be completed to achieve clear goals which lead to the realization of the vision.

It turns the vision into results.

And don’t forget – a weak strategy implemented strongly will always beat a strong strategy implemented weakly.

 If you enjoyed this you’ll also enjoy 3 Things Which Shape A Good Strategy and 6 Tips For Getting Better Results in 2011 and Why You Want A Consultant With Hands-On Experience

Being Profitable and Strong Increases Valuation

Wednesday, November 9th, 2011

In my last post I talked about 4 things every owner of a successful business must think about. They are the 6 reasons a company is sold, the 2 factors which apply to each of those situations and what being “profitable” and “strong” mean.

I promised then that I’d talk about how to make a company profitable and strong. So here we go.

1. How do you achieve consistent profitability? Here are 6 things every business owner can do to increase the odds that her/his company will produce consistent, industry beating profits:
a. Develop a strong product line – not only having width and depth in current products but also always having new products under development.
b. Build a great reputation – and recognizable identity or brand – in your target market(s) by delivering quality products and services, on time, that meet your customers’ needs.
c. Be in more than one market (which ideally do well in different phases of the economic cycle).
d. Have a broad customer base built on strong companies or affluent consumers.
e. Generate a stream of recurring revenue rather than working solely on projects which have to be replaced when complete.
f. Innovate – and create some intellectual property, products or processes, which can be protected, creating a sustainable advantage or a barrier to lock out competitors.

2. How do you make a company strong? Here are 6 things an owner can do to survive the loss of key people and keep his/her company’s balance sheet ratios looking good:
a. Document all processes. Especially the sales process which can be mapped, then managed, using a CRM system.
b. Involve all of the key people in a formal, annual business planning (and budgeting) process, which is completed 2 months before the start of a fiscal year and which includes formal, quarterly reviews.
c. Maintain strong internal financial controls, including cash flow forecasting, and insist on timely, monthly reporting.
d. If the management team doesn’t know and understand the drivers of the key balance sheet ratios have your accountant run a training program for them.
e. Always put leases and contracts – for everything and everyone – in writing.
f. Make Human Resources management a key part of your strategy and culture by e.g. driving accountability and responsibility through job descriptions; making decision making independent of the owner; identifying talent and training people for growth.

A company which is profitable and strong can survive the prolonged absence of the current owner as a result of injury or illness because it will continue to: 
• Execute its proven strategy.
• Be innovative, building barriers against competitors.
• Operate day-to-day without missing a beat.
• Produce revenues and profits at, or above, previous levels.
• Keep and attract good people.
• Attract financing should it be required.
• Survive any unexpected crises in the industry or economy.

The ability to do that also makes this type of company very attractive to a potential buyer – because the risk of the company failing in the short term is reduced significantly. And that means the valuation of the company – which determines the selling price – will be at the high end of the scale.

So by doing the 12 things I mentioned (and, in all fairness, some others like them) a business owner wins in 3 ways.

She or he makes great money while they run the company. They build security for themselves and their families in the event they are injured, fall ill or even die. And they maximize the return on the long hours, missed vacations and risks they’ve taken by getting a great price for the company if it’s sold.

How good is that?

If you enjoyed this you will also enjoy The 2 Truths Every Business Owner Has To Face and The Future Of Your Business: Succession or Exit

4 Things Every Business Owner Must Think About

Monday, November 7th, 2011

A few years ago one of our clients was unexpectedly made an offer for her company. It took her totally by surprise and so we had to react quickly to the situation.

She thought the offer was low and she tried to negotiate it up.

That’s when I realized that, until then, she’d given no thought to selling and even less to maximizing the valuation of the company.

That situation taught me there are 4 things every owner of a successful business must think about. Here they are.

1. The 6 Reasons A Company Is Sold. We now tell business owners that there are 6 things that will make them sell their company. They:

1. Accept an unsolicited offer.
2. Become so ill they are no longer fit to continue running the company.
3. Die young and unexpectedly.
4. Choose to retire.
5. Are no longer able to run the company – but this time because of old age.
6. Die of old age.

Some of the owners laugh saying that it will never happen to them. Some get annoyed that we even bring it up saying things like “I’m far too young to have to worry about that now” or “I’m not ready to retire/I will never retire.”

But the one thing they cannot do is argue that the 6 reasons are illogical or incorrect.

2. The 2 Common Factors. Then we tell them there are 2 factors common to all 6 situations:

a) They will only get an unsolicited offer, for top dollars, if the potential buyer believes that the business is profitable and strong.
b) They may not have to sell if they become ill – even so ill they can’t run the business – or if they retire. But if they retain ownership the company will have to run without them. And to do that it has to be profitable and strong.
c) If they do have to sell because of illness or when they retire, they will only maximize the return on their hard work – get top dollar – if the business is profitable and strong.
d) If they choose to retire; become too old to continue running the business; or die – young or old – they, their estate or their heirs have the same choice. They can either retain ownership or sell. And, once again, to get the most money out of the business it needs to be profitable and strong.

So what does it mean to be “profitable” and “strong”.

3. A “Profitable” Company is one that consistently produces industry beating profits.

Why consistently?  Because that’s the only test that making a profit was more than just luck. (As an old friend used to say – never confuse success with a growth market.)

Why industry beating?  Because what’s to say that even consistent profits couldn’t be improved. What better comparison than with other companies in the same industry? It removes one major variable – because every company in the industry goes through each phase of the economic cycle at the same time. And key indicators are available by either looking at the annual reports of public companies or by using the industry data published either by (some) associations or magazines like Inc.

4. A “Strong” Company can meet 2 criteria. One, it can maintain profitable operations despite the loss of 1 – or more – key personnel. Who are key personnel – the owner and anyone with specialist knowledge which would be hard to replace. Two, all key balance sheet ratios – liquidity, debt to equity etc. – are in great shape – in other words the company could borrow money from the most conservative of lenders.

What makes a company profitable and strong? I’ll tell you in another post.

By the way there are at least 2 other reasons a company could be sold – divorce and the break-up of a partnership. We’ll also deal with those in another post.

Are Your Core Competencies Coming – Or Going?

Monday, August 8th, 2011

A phrase that we often hear being bounced around the offices we visit at this time of year is “core competencies”. This is because we’re getting into annual business planning or budgeting (or anything else you call it) time.

And, as any good book on business strategy will tell you, “core competencies are a potential foundation for a new or revised strategy.”¹ Why, because they are what the company is uniquely good at.

But there are 2 important caveats. To confer advantage they must be valued by the company’s customers and they must make the company better at what they do than its competitors.

1. Beauty and the eye of the beholder

If customers stop valuing what a company is good at the owner will know quickly enough because sales will fall. While a sudden drop grabs attention, a slow decline is easier to overlook – and, therefore, more dangerous.

But how does a company know if its core competencies are more highly valued than those of its competitors? The answer, at the risk of sounding glib, is to ask.

Let me back up a step, however. Owners and their management teams have been known to identify the company’s core competencies based solely on their own opinions. But beauty, as they say, lies in the eye of the beholder.

I’m not saying they can’t do it. What I am saying is that they have to get some external, objective, third party input to confirm that they actually have hit on the core competencies. That input can be in the form of customer surveys done either by the company or by consultants on their behalf.

2. Relative performance but………

The next step is to list the core competencies, come up with a rating scale and the names of 2 or 3 key competitors. Now the business owner can get a reading on the company’s relative strength in these key areas that confer advantage.

The best assessment of where the company is strong or weak compared to its competitors will use a blend of input from employees, customers and people who know the industry. This type of assessment is comprehensive, thorough and, hopefully, objective. And it may be adequate.

However it has one important shortcoming. It represents a snapshot in time. And so it may disguise areas for concern.

It can, for example, show that the company is rated more highly than its competitors in one or more key competencies. But the competitors may be gaining ground.

3. Now you have it

So the assessment should be strengthened by the addition of a question about the trend in each company’s performance. Are the competitors getting stronger – or weaker in key areas?

Then the business owner knows not only what the company is good at, but how good they are and if they’re getting better or worse. Invaluable input to the annual business planning or budgeting (or anything else you call it) process.

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¹ I happened to choose “Strategy: Create and Implement the Best Strategy for Your Business”, Harvard Business School Press, 2005

A Vision – Is It Worth Investing The Time?

Thursday, February 3rd, 2011

1. Yes, and you don’t have to take my word for it.

We are regularly met with a lot of scepticism when we talk to business owners about the need for a vision. But developing one can yield a tremendous return for the time invested.

And you don’t have to believe me.

There’s an article called “Step Into The Future” in the current issue of Inc. magazine written by Ari Weinzweig, a co-founder of Zingerman’s Community of Businesses in Ann Arbor, Michigan.

2. Three reasons why a Vision is worth having.

The original business opened in 1982, almost 30 years ago. Zingerman’s Community of Businesses now has annual revenues of around $37 million, 500 employees and 17 managing partners. They are successful by several different standards of measurement.

“It’s safe to say that we wouldn’t be where we are without visioning” according to Weinzweig.  He’s asked regularly for business advice, often by people looking for the silver bullet. While that doesn’t exist Weinzweig says “There is one thing I wish I had understood more clearly from the get-go – the power of visioning”. And that is one very compelling reason for investing the time.

“When we do effective visioning, we’re moving toward the future we want……..” Weinzweig gives an example of a vision they wrote in 2005 for a new venture that had still to get off the ground. Three years later the successful business actually mirrored the vision in key respects.

Having a vision is fundamental to developing and executing an effective strategy. The vision lays out where the company is going; the strategic plan tells everyone how the company will get there. It also becomes easier to choose which opportunities to pursue when they arise. The first question is always “Will it help us achieve our vision?”

“A great vision is inspiring” and gives everyone a reason to come to work. Weinzweig uses a great analogy. He likens a vision to a cathedral, a lasting monument, the tangible evidence of a group’s dreams and hard work. (Fans of Ken Follett’s book “The Pillars of the Earth” should find it particularly easy to relate.)

3. Three ways to make effective use of the time.

Eight Steps to a Vision is the name Weinzweig gives his process. Three of the steps involve drafting and re-drafting with gathering data and assessing trends etc. saved for strategy development.  So it doesn’t require a lot of time to complete. 

His structure is similar to many others, including our own. Most are easier to use than business owners imagine.

Use questions to get things moving. Asking questions about specific aspects of the future make it more tangible. Weinzweig lists 14 questions covering topics you would expect – such as how to measure success – and some topics you wouldn’t – e.g. what the owner does all day.

In our process, we circulate a few questions to key participants in advance. It helps them feel prepared, which makes it easier for them to participate.

Don’t sweat the details. Inevitably, at some point, the discussion will move to the action steps required to achieve the vision. Save these for the planning session. They’re great input but not required during visioning – which is more about passion than detail.

4. Wrapping it up.

I think one reason for scepticism is that business owners confuse visioning – a process – with the vision – an output. 

And a few years ago developing a Vision was the fashionable thing to do, a fad, a silver bullet. As a result framed Vision Statements, many of them meaningless platitudes, littered reception areas.

But Weinzweig and Zingerman’s are evidence that visioning works and that the ROI on the time can be very satisfying.

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