An entrepreneur must have a vision of where they want their company to go in the future. Essentially, an entrepreneur must be able to create a business road map for success. They have to communicate this idea in an exciting way to get employees and investors to help achieve it.
This is not a business plan; a vision doesn’t have a specific road map for business. A vision paints a picture of what the company strives to be in the future. A leader who has a vision with clarity and impact motivates the team to achieve that picture, despite the action plan.
Vision provides motivation to leaders and employees. It gives employees something to believe in and support. It doesn’t tell the employees what to do to achieve it, but rather, helps to shape their decision-making when problems lack clearcut answers.
A strong vision along with an even stronger business plan is essential to the success of any growing venture. This vision will stimulate everyone to achieve success, while guiding them to where they are going. The plan is significant because it documents and concretizes the vision on paper and shows commitment to achievement.