Having the Vision to Emerge Successful
by Sherry Herwig
Recently, the Wisconsin Family Business Center held its September Speaker Series with Meridith Elliot Powell, a business growth and leadership expert. Meridith studied 200-year-old businesses (many of which were or still are family businesses) to understand what helped them stay afloat during times of uncertainty.
After reviewing the trends, she came up with seven strategies that helped businesses emerge from times of crisis successfully.
Meridith encourages all business owners to embrace uncertainty and see it as an opportunity. Success does not happen without some form of disruption. Finding the new normal for your business might feel daunting right now, so Meridith encourages everyone to learn from the past – especially those who have found success in times like these. What’s the secret formula Meridith found? We won’t give the whole thing away, but we wanted to share her first strategy: focusing on your vision.
Be Relentless About Your Vision
Knowing where you want to go is the key to your success, and Meridith wants everyone to be relentless about their vision for the future of their business. Be passionate about it and talk about constantly. She noted, “what you focus on expands”. What do you want your business to look like one year from now? What difference do you make in the marketplace? How will you help your customers?
Focusing on what you want will get you closer to your goal. If you focus on problems, you’ll find you have more problems. Set your vision somewhere front and center and review it constantly. It should be clear to you where you and your organization are going next.
Communicate Your Vision
You need to communicate your vision to your family and employees, so they know it as well as you do. They should be, after all, part of the vision! What do you want to create together? What culture do you want to cultivate? How much revenue will you generate? Talking about your vision and the direction you’re going with your team will keep you aligned and concentrating on how you’ll get there.
Mindset and Fear
We all deal with fear and have challenges to overcome. Meridith suggests making a list of all your worries and then sorting them by what you can control and what you can’t. Focus on what you can, control your mindset, and do the work you need to in order to accomplish your vision. Get your ego out of the way and stop complaining about what you can’t control, there’s no room for that here. Perseverance is something we can control, and perseverance is necessary to accomplish your vision.
The state of the world can be overwhelming but knowing your vision and being relentless in communicating and accomplishing that vision will help you stay focused on the right tasks during trying times. Our next Speaker Series event is on Thursday, October 8, 2020 Next Generation Capabilities: Technology and Workforce Opportunities for Family Enterprises. Register today! If you would like to attend as our guest, please contact Sherry Herwig 608-441-7347 or [email protected]