Atlanta, GA – Every business begins with a foundational idea conceptualized by a bold, passionate, and aspiring entrepreneur championing an innovative vision. However, as a company grows and more stakeholders gain interest, equity, and input into the operations of the company, the original vision can become muddled. Even the most diligent entrepreneurs can stumble when it comes to maintaining their original vision.
Deepak “Dee” Agarwal, an experienced entrepreneur who is best known for founding and growing successful online shop NoMoreRack.com, among several other major online retailers, understands the scope of challenges that entrepreneurs face when scaling their business.
“A brand vision is often a primary reason that investors will gain interest in the business in the first place, but it is also the easiest piece to lose when you begin to involve more people,” Dee Agarwal explains. “But remember this: The values and identity you promote in your vision are what will keep employees and customers coming back, but if you lose it, you may lose these customers as well.”
There are a few ways to combat this while simultaneously expanding your business into next year and beyond. Dee Agarwal shares his expert opinions for protecting and enhancing company vision as the business grows.
1. 20/20 Vision
“I cannot express how critical it is to ensure your vision is clear and focused from the start,” says Dee Agarwal. This often involves a process of defining both what a business is and what it is not, and deciding what is table-stakes for developing brand identity. This is a critical piece of corporate goal-setting and could include precise success measures, a deadline, or even goals for how you want your customers to perceive the company. Whatever this vision includes, define and refer to it frequently.
2. Amplify Your Vision
Once the corporate vision is fine-tuned and precise, it must be woven into internal and external communications to keep it front-and-center. “A vision can only be effective if it is recognized and acknowledged across the board,” says Dee Agarwal. “By integrating the company vision into all brand messaging and communications, a company can ensure that it remains aligned to its purpose.”
3. Reference the Vision Statement in Every Major Decision
While a company is expected to expand and evolve throughout its lifetime, the core foundational values of the company should change minimally, if at all. As such, a company’s vision should be used as a north star or point of reference that helps to inform major decisions regarding the trajectory of the business. “One thing we have learned from the past two years is that change is the only certainty,” explains Dee Agarwal. “As we move into 2022, it is critical that businesses remain flexible and adaptable while simultaneously staying true to their purpose.”
You can opt to adapt your business, or vision, as a result of this introspection.
“While the nature of business necessitates adapting to ever-changing societal situations, entrepreneurs should hold steady their values and shape their future around their foundational vision,” says Dee Agarwal.
For more expert business insight for the coming year, read How to Create An Inclusive Workplace Culture.