ATLANTA, GA / ACCESSWIRE / October 26, 2020 / Every business begins with a vision. Every entrepreneurial success story begins with an inspired thought and a daring, aspiring entrepreneur to champion the cause. However, as a business grows that vision can become blurred. With competing interests and a growing team, maintaining a clear vision and purpose can evade even the most disciplined entrepreneurs.
Deepak "Dee" Agarwal, an entrepreneur known best for his work founding and leading popular online retailer NoMoreRack.com, is well aware of the types of challenges that can arise when growing your business, and also just how important it is to stay true to your original vision.
"The vision behind the brand is the thing that customers will become emotionally invested in," says Deepak. "The values and identity you promote in this vision will be what keeps customers coming back again and again, but if you lose it, you may lose these customers as well."
Here are Deepak Agarwal's top tips for protecting and maintaining your vision while growing your business.
Establish a Laser-Focused Vision
"While this might seem like an obvious step," says Deepak Agarwal, "I cannot overstate how important it is to make sure your vision is completely focused from the start." Most businesses can sum up their vision in just a sentence or two, and getting to the core of your vision succinctly is paramount to building something sustainable. Spend time brainstorming and coming up with the specifics of your vision. This might be specific metrics for success, a timeline, or even goals for how you want your business to make your customers feel. Whatever this vision is to you, make sure to write down the specifics, and revisit them often to remind yourself why you started your business in the first place.
Communicate Your Vision from Early On
Once you've established a highly-specific vision, the next step is to ensure that it is communicated to your team members and shared by all employees. "A vision can only be effective when it is recognized and agreed upon by all members of your team," says Deepak Agarwal. "By sharing your vision as early in the hiring process, you can get an idea if new employees will be on the same page, and share in your aspirations for the company."
The importance of a shared vision is not just about getting employees on the same page, but is also key to resolving internal disagreements, notes Deepak Agarwal. If all team members are working towards the same vision and goals, disagreements will only take place over the methods to achieve that vision, and underlying tensions will not build up and create challenges later on.
Show Your Employees Their Value
As your team grows, the culture surrounding your company will most likely change. As businesses grow from a small startup of mostly peers, they often transition into mid-sized companies with structures and tiers. This is to be expected but is not without its challenges. "A growing company needs to ensure that there is equal buy-in from employees across the board," says Deepak Agarwal. "This can appear in many different ways, but I've found success in facilitating frequent check-ins, time-based goals, and praise for employees. This builds the team's sense of value, and also underscores the importance of your vision to their success."
Revisit your Vision Statement
The most valuable aspect of establishing a clear vision statement early on is that it can become a living document, which can be adjusted when necessary. Setting up time on a specific interval, whether it's every few months, or once a year, to revisit your original vision statement helps you stay true to your plan, and adapt it in areas where it may no longer be serviceable. "Use this as a moment of self-reflection," says Deepak Agarwal. "Assess whether your business has grown away from the values you see as important, or if your vision has become outdated by the successes your business has seen."
Using this reflection, you can choose to adapt your business, or vision, accordingly.
"While the nature of business requires that we adapt to the ever-changing conditions of society, entrepreneurs should not bend at the cost of their values," notes Deepak Agarwal. "Move forward while keeping your vision and core values at the heart of your business."
For more expert tips for entrepreneurs, visit Deepak Agarwals Top Tips for Entrepreneurs.
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SOURCE: Deepak Agarwal
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