If Your Vision Is a Number, You're Missing the Point
Ask a business owner about their vision for the future, and you'll likely hear a number. "We are aiming for R10 million in revenue in the next two years" or “I plan to open three new locations by next December” or “We want to hire six more salespeople next quarter.” These are all fantastic objectives, but the problem is that they are not vision, they are goals.
Somewhere along the way, many business leaders began treating goals and vision as interchangeable terms when they're actually very different concepts. And while the distinction may seem rhetorical to some, understanding the difference can profoundly impact the direction, culture, and long-term success of your business.
The Difference Between Goals, Strategy, and Vision
Many people get the meaning of these terms confused, so let’s clear it up:
Goals answer the question: What are we trying to accomplish?
Strategy answers: How will we get there?
Vision answers: Why are we building this in the first place?
So now let’s address the concepts together, see what distinguishes them, and visualize how they relate in a real-world scenario.
Your goal is to double your revenue in the next three years. Your strategy to get there is to expand your suite of services, invest in research and development, and hire on new talent. Now what about that vision? Remember, there is no number attached. It’s about the lasting impact you want to have and the organization you want to build. So your vision might be: To build an organization in which employees are proud to work, customers are raving fans, and competitors struggle to replicate.
When laid out like this, you naturally see how these concepts are very different yet innately symbiotic. Remember: what, how, and why.
Vision Provides Continuity
Goals continually change. When you hit a benchmark, you set another. Strategies are revised, maybe quarterly or yearly, depending on market shifts and evolving priorities. But through all the day-to-day activity and noise, vision remains a constant that provides a sense of continuity through periods of growth, uncertainty, and change.
Your business is not static. You might experience new competition, an evolving customer base, or exciting innovations and opportunities that arise. The way you approach everything in your organization can change, but the underlying reason you're building the business in the first place, your vision, should remain intact and meaningful.
Vision allows you to make choices on today’s unique dynamics that align with the future you are trying to create. You might consider it a litmus test for every decision you make in your business: Does this thing align with our vision?
Don’t Lose Sight of Your Vision
Somewhere along the way, many business leaders began treating goals and vision as interchangeable terms when they're actually very different concepts. And while the distinction may seem rhetorical to some, understanding the difference can profoundly impact the direction, culture, and long-term success of your business.
Challenge yourself to consider the vision for your organization. Is it truly the north star for everything you do and decision you make, or is it really just a set of goals you aspire to?
At The Alternative Board (TAB), we know how important it is to have a vision for your business. TAB’s Business Builder’s Advantage is our suite of services that empowers owners and executives with the insight, acumen, and digital tools they need to build thriving companies that stand the test of time. You are welcome to reach out to me to learn more about how TAB can help you become a stronger leader building a more successful business.
