“Whatever you focus on, you’re going to experience.” Tony Robbins
The Magic Of A Vision Statement
Once your Mission statement is determined (your steering mechanism), it’s time to carefully construct the “engine” of your business… a Vision statement. If you haven’t done this already, you’re in for a wonderful journey and a wonderful surprise. If you’re already deeply involved in your business and you don’t have a Vision statement, creating one could be the most profitable thing you can do with the small amount of time you will put in to create one. A Vision statement explains what your business will look like when it is completely successful. That is, how will your business look, what is your business known for, what is the size of your business after success, how will your employees feel about the business, and of course, how you will feel now that your business is successful. This is an extremely motivating exercise. If you are the founder, this is something that you alone should do, but if there are partners in your business, this most definitely should be a team effort. Whatever your situation, a Vision statement is crucial.
“You have to have a big vision and take very small steps to get there. You have to be humble as you execute but visionary and gigantic in terms of your aspiration.”
I don’t have much money. I’m just getting started. What do you mean by income inequality and my small business? Yes, your small business can have a great influence on income inequality in a positive or negative way. Do you want to know why? Continue reading.
Income inequality has grown tremendously for almost fifty years in the United States. The U.S. leads most developed nations in income inequality. “Half of the U.S. population lives in poverty or is classified as low-income according to the U.S. Census data” reports Wikipedia. President Obama has defined this as “the defining challenge of our times.” So you’re probably still asking “what does my small business have to do with this sad state of affairs?” As I mentioned in a previous post, a society centered mission can be very valuable to your success and the success of society in general. Income inequality can be attacked if you determine to be consistent in the application of a society centered mission throughout the growth of your business. This consistency will be apparent in your business strategy, operations, budget and bottom line. Many profitable businesses operate this way. Take a look at“Why giving back is good for business” by Laura Garnett
Your Business Strategy might include a ♦vision statement as well as a ♦mission. Your ♦guiding principles might include your society centered ♦core values. Your core values may include leadership, integrity, service, and employee talent development among others. Other elements of your strategy may include ♦competitive advantage, ♦long and short term objectives and ♦action plans with all of these containing society centered characteristics. Profitable growth that is so essential to any business can be easier to achieve using this method. Current and emerging research supports this method.
Let’s face it, all businesses want highly motivated and talented employees. A society centered mission offers five key advantages for this type of employee:
1. Employees feel privileged to work for a company that cares about employees, customers, and the larger society.
2. They feel that they are working because of the opportunity to grow their talent as well as make a paycheck.
3. Mission conscious employees are hired and attracted to the business primarily because of its mission.
4. The business promotes an enthusiastic work ethic and dedication to the customers.
5. Great employees and dedicated customers become loyal friends.
So, what does all of this have to do with eliminating income equality? Ok, let me tell you. Consider your budget. Most budgets allow 35 to 40 percent of its operation fees for employee salaries, taxes and benefits. If you keep a tight hold on your money, using something like a small business Dashboard until your business outgrows it; as your business grows, employees salaries grow. This can be one of your own “noble” personal values that is reflected in your company vision. In addition to this, some of the best companies pay their employees 20 percent above the industry standard to keep good employees. Of course this lines up with your business core values anyway! It’s not rocket science. So come on. Let’s grow our small businesses to become outstanding large businesses with great values to help eliminate income inequality and in turn, create a better society. An idealistic attitude right? That’s ok. GeniusCore can help. Join us.
“This is a time when there seems to be a particular need for friends of wisdom and truth to join together” Albert Einstein
Your mission acts as the president of the business strategy that you adopt. It dictates the character of the what, when and why in your business operations. GeniusCore LLC is anxious to see many small businesses grow to become big businesses that contribute to the growth and fulfillment of their employees, the quality and value of their product or service, and consequently, the welfare of our society. American businesses can do better. Most are driven by profit. Profit is their ultimate value. They are focused on financial gain for the people at the top of their organization with very little regard for employees and contribution to a better society.
As a growing business, you have the opportunity to build values into your mission that will facilitate a more equitable society of economic contributors. Therefore, a business mission that values the individuality and growth of its employees as well as a focus on contributing to society will be highly successful in the present environment.
The benefits of having a “society centered” mission are abundant. Primarily, as owner or founder of the business, you know you are working toward a noble cause. This is a great motivator. Your focus is on a positive society rather than all of the negatives that surround us. Your product or service will be of the highest quality possible, because of your intense desire to be a genuine contributor to a better society. You will also realize that honoring the portion of your mission that values individual talents and growth enhances all of your business goals. Keeping these employees aware of your core quality value makes uncompromising quality a standard in all your operations. Customers in America yearn for high quality services and products that have almost disappeared from our experience. This is mainly because of weak or nonexistent “society centered” company missions. Let’s do better.
” When you discover your mission, you will feel its demand. It will fill you with enthusiasm and a burning desire to get to work on it.” – W. Clement Stone