Chapter 4
Formulate a Clear Business Vision
In all the presentations I have given throughout the world—to CEOs and senior executives of both small and medium businesses—I am constantly astounded by one thing: At least 50 percent of them do not have a clear, concise vision of their business that they can readily articulate. Most do not even have an up-to-date business plan. Less than 10 percent have a separate marketing strategy, and only 1–2 percent set daily, weekly, or monthly goals.
I am fairly sure that these same people would certainly not attempt to build a home without a firm vision of what they wanted or a detailed set of plans they had agonized over. Nor would they build it without a timetable (goals). Yet when it concerns something as important as their life's work—on which their family, health, and happiness will depend—they have no plan whatsoever.
If I was standing in the middle of a sports arena with the world's greatest sprinter (this is a big “if,” as I cannot run to save my life), and I knew where the finish line was and had a plan to get there but my opponent did not, I would win, no matter how good he was. Earlier I discussed how Evander Holyfield prepared so studiously before he fought Mike Tyson. Evander knew precisely what he had to achieve, and he planned accordingly. Business is exactly the same. You need to know what you want to achieve, and you must develop a plan to get yourself there.
A study of the Yale University class of 1973 showed that only 3 percent ...
