You had a dream about what you wanted your business to be, but with all the stress and obstacles and changes in the business environment, it can be difficult to maintain that vision. Without the vision of where you want to take the company, it is easy to get lost. Fortunately, it is a lot easier to stay true to your dream if you aren’t under significant fiscal pressure. Here are a few ways to help you achieve your goal even if you aren’t well funded.
Clearly Define Your Vision
It’s tough to get where you want to go, if you don’t know where you want to go. A vague notion of what you want your business to be is just enough to set you down a hundred wrong paths, wasting time and money. Creating a clear vision statement will keep your eyes fixed in the right direction.
Write out your vision statement. This isn’t always easy, but having to put your dream into words will help you identify what is and isn’t important to your vision. A written declaration will also keep your direction from drifting as it may take you a year or a decade or a lifetime to see your vision realized.
Get Buy In
Everyone in your company should share your vision, but it is up to you to bring in people that will be receptive and to sell them on your end goal. Employees that share your vision and are inspired by it will be happier, work harder, and will not place as much emphasis on salary.
It is also important to get buy in from your family and close friends. While spite can sometimes provide motivation, it is better to get support by having them understand and share your dream. They will be the ones that help keep you on track on your worst days.
Keep It Simple
Multi-tasking is a great buzzword and often times, especially as an entrepreneur, unavoidable, but it usually keeps you from doing any one task exceptionally well. The same is true for businesses. Keep your business focused, mentally and financially, on its singular vision and do nothing that doesn’t take you closer to it.
Stay within Your Means
Most entrepreneurs want their business to grow, but that growth needs to be well managed. Adding employees, office space, and equipment requires a serious financial investment. It is easy to let the financial burden drive you towards short term profits to stay afloat, sometimes distracting you from the long-term goal.
Of course, you have to stay in business to see your dream come true. Being budget conscious can prevent you from constantly treading water instead of achieving your purpose.
In many ways, this goes back to simplicity. Understanding what you do and don’t need is the first step to not over-spending. The next is prioritizing where you can and can’t cut costs without sacrificing production. In most industries, the biggest value-add is going to be in people.
Location can be important if your business relies on walk-in traffic, but many businesses can use a less desirable, cheaper location without having any negative impact on revenue. Although you may have dreamed of a stunning office with all the bells and whistles, is that really integral to achieving your end goal?
Furnishing your office is another area that allows for the budget conscious entrepreneur to save resources for revenue generating business functions. Used office furniture can save a lot of money while still working just as well as new. Refurbished laptops and computers are another option to cut cost without sacrificing functionality, as the capability of most people’s computers exceeds their usage. If most of your computing is spreadsheets and web browsing, a refurbished computer is more than adequate.
Keep Reminders in Sight
The phrase “out of sight, out of mind” is well known for a reason. It’s true. To keep your abstract vision in sight, find physical reminders of it and what motivates you to reach that destination. These could be a printed copy of your vision statement, pictures of those you are trying to help, or a memento from someone who has inspired you to pursue your passion.
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Jared Jacobs has professional and personal interests in everything technology. As an employee of Dell, he has to stay up to date on the latest trends and breakthroughs in large enterprise solutions and consumer electronics buying trends.
In his spare time he is tinkering with sound systems and other awesome gadgets he can get his hands on. He’s also a big Rockets and Texans fan.
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Matching with Your Entrepreneurial Vision -- with Frugal Style! by PrintRunner