When we talk to startups about what they do, we often find that they don’t have a well-defined vision. Spelling out how the world would be a better place if your innovation was widely adopted is a powerful way to inspire your team and those looking to invest in your company.
CEOs often pay lip service to their vision without doing anything to ensure it is embraced and acted on. They are reluctant to talk about their social purpose because they think shareholders are purely financially motivated and won’t see the value in it.
This misses the huge motivational potential a strong vision brings. Purpose is extremely important for job satisfaction and growth. Successful companies create a culture where people are committed to the vision.
At Vie Carratt we recommend defining a clear vision. By “vision” we mean “how the world would be a better place if your innovation was widely adopted”. We help startups to articulate their vision by focusing on the human aspects that make it practical and engaging for everyone involved in the business. This can inspire employees, customers, shareholders and investors.
Identify core values
It is important to flesh out the various ideas about what your company stands for with your team. We recommend a series of workshops with employees from each functional area, as people’s aims and principles are often different depending on their role in the business. This will identify the values at the heart of your business.
Say why you exist
During workshops, you should ask employees why they think the company exists. Often feedback is surprising but the aim is to clearly define your purpose in one or two sentences. Your purpose must be something that will remain constant, even if your business plans change. You cannot completely fulfill your purpose – it should keep your company moving forward continuously.
Your purpose should have an emotional connection – how do you improve people’s lives and make the world a better place? You want people to wake up every morning and feel energized and excited about being a part of your company.
TMC’s purpose
Our client TMC has a telemedicine business model. They focused on offering outsourced radiology diagnostic services to radiology departments in hospitals – but this model wasn’t very motivational, as it highlighted the fact that the hospitals didn’t have enough radiologists to meet demand.
TMC’s diagnostic networks allow radiologists to review cases remotely, even patients in inaccessible parts of Africa. This is a powerful vision, as people want to help others and make an impact in the world’s poorest countries. So rather than describe TMC’s technology as outsourcing, they crafted a vision with emotional appeal.
“At TMC, it is our purpose to make quality health care accessible to all people. Quality health care cannot be the privilege of a few. We want to contribute to this greater cause, so that, some day, people anywhere on the planet have access to the best equipment and the best doctors.”
TMC created a handbook that clearly defines its vision and how this forms part of everything they do. This is given to everyone involved in the company.
We recommend communicating your vision wherever possible – for example, in team meetings, employee handbook, website and social media. Constantly reminding employees about your purpose is a powerful motivational tool.
Look to a successful future
When your vision is clearly defined, test your strategy. Identify what your company needs to scale-up and whether your strategy will work long-term. In addition to your values and purpose, it is important to give your team something tangible to aim for. Set an ambitious 10-year goal and provide regular updates on the progress towards this. Reward your team when progress is made.
There must be alignment between vision and business strategy. A great example is Tesla. To achieve its vision of driving the world’s transition to electric vehicles it needs vast amounts of renewable energy sources – it has changed its strategy and is now producing its own batteries as well as electric vehicles.
| Your company’s vision should connect with people’s personal sense of purpose and motivate them to share your passion for your business whether they are employees, shareholders, investors, analysts or customers. A shared vision is much more likely to become a reality. Get in touch so we can help you define your vision. |