Emma Wimhurst achieved financial freedom when she sold her business Diva Cosmetics Ltd, a company she’d started in 2000. First year turnover topped £1m and by the end of year 4 had risen to several million with impressive profits.   Now a high energy business mentor, she has developed seven business disciplines. Here’s the first: Strategic Planning.

There are many facets to my first discipline, Strategic Planning, but have a clear and considered Vision Statement is a very positive start.

Starting or indeed running your own business is exciting. It’s a time for change, challenges and chances to be taken..... You need to be energetic, motivated, resilient, and passionate about your ideas and above all, you need to know what you want your business to achieve. If you are not absolutely certain where you are heading, it is possible to stumble, lose your way and ultimately miss out on success that should have been yours.

A vision statement is not a novel – it should be 50 words or less – a single paragraph and it needs to be positive and dynamic and exciting enough to motivate you when you read and re-read it. It also needs to fire up others – either stakeholders in your business, staff or possible investors who will be buying into your venture.
     
You need to define your target market, be clear on what you are offering in terms of product/service, identify how you are going to deliver your proposed product/service, and ensure that the outcome and benefits to your customers are clear, if they chose to work with you.
  
This vision statement should be a working tool within your business and you should refer to it on a regular basis – every time you need to make a decision, let the words of your vision run through your mind and be true to them.  If the opportunity takes you towards your business goal it may be worth considering – if not, don’t be afraid to turn it down. Simply put, don’t lose sight of where you want your company to be.
       
Strategic Planning is a crucial first step towards business success. Sensible, considered and honest Business Planning is my second. Don’t miss my next article. 

Emma Wimhurst is a high-energy business mentor, international speaker and successful entrepreneur. Visit www.EMpwr.co.uk for more information