We are going to learn how to create a clear and compelling VISION in a business.
Gino Wickman (Traction) has assembled a wonderful two-page format that provides a process to answer 8 questions that will define a vision and strategic plan for your business. It is called the Vision Traction Organizer (VT/O). By answering the first five of eight questions provided by the VT/O, you create and document your company vision. The VT/O questions are:
- What are your core values? These are the three to five non-negotiables on your foundational identity. Examples of core values are integrity, perseverance, and stellar work ethic. Describe the values of the top five people in your organization, and you will likely discover your core values.
- What is your core purpose? Why do you exist as an organization? What is your purpose, cause, or passion, and how are you unique (your niche)?
- What is your 10-Year Target? This can include economics, but can certainly transcend that as well. Where do you want to be in 10 years?
- What is your marketing plan? Given who you are (core values), your reason for being (core purpose), and your 10 Year Target, who is it that you are going to serve, and how can you uniquely serve them and bring them value? This marketing plan begins by defining the geographic, psychographic, and demographic characteristics of your ideal customer. Where are your ideal customers located, how do they think, and who are they as human beings? Then you work on the three ways that you can uniquely serve this targeted list. The marketing plan is rounded out by clarifying and illustrating your Proven Process and Guarantee.
- What is your 3-Year Picture? You set a date 3 years out, and in light of the 10-year target, you project your revenue, profit, and other measurables. You then describe what that business looks like that would be producing that profit and revenue.
The answers to these first five questions comprise your company vision. In the next article, we will consider the traction component of the EOS by considering the remaining three questions on the VT/O.
A clear and compelling vision is essential for getting everyone moving together in the same direction. It forms the grid for all decisions in the business, such as who to hire, what customers to enroll, and how to choose our short-term goals and action plans.