I used to think visions were a pile of junk. They didn’t put me any closer to my goal of launching my own food products, figuring out price points, and selling at farmer’s markets.
Why did I need a vision?
Turns out I needed a vision because you need to have a rough idea where your company is going. Tonight, I sat in on a lecture by Babson College professor, Michael Cummings, on entrepreneurial thought and action.
In addition to sparking several thoughts in my head, he also talked about having the 15-year, in-it-for-the-long-haul, determination and vision. Have a solid plan, but be prepared to pivot.
While, I have a vision for this company, I figured it’s more important for you as a specialty food business owner, to figure out your vision.
Is it world jam domination? Do you want to be the best mustard in the midwest? Or simply sell out of cookies every Saturday morning at the Farmer’s Market?
Before you figure that out, I want to give you three tactics – or steps – I’ve used to come up with a vision. Here we go:
1. Figure Out Your Non-Money Reason
What are doing in business? If it’s for the money, specialty food is not the best industry to be in. There’s something else behind it – maybe community, your passion for cooking, or your desire to do something while the kids are away at school. Whatever it may be, arrive at your answer before you move on to steps 2 and 3.
There are numerous food trucks that have started with the goal beyond turning a profit. One example is Refuge Coffee Co. based outside Atlanta. Refuge Coffee Co. helps provide job training to refugees of other countries in addition to serving some fantastic coffee. Other trucks donate their time and equipment after large storms like we’ve seen in Texas recently. Find out how your business is helping people and build it into your plan.
2. Write 5 Visions Down
Just like your very first marmalade recipe, it’s not going to be right. You have to taste-test and refine the recipe until you’ve arrived at something you’re proud something; something that can drive your food business in the right direction.
Don’t stress yourself out over this step either. Not all of your ideas will be great and that’s okay. Use this time as a free space to figure out what you want to do. You don’t need to execute on all the ideas that you come up with.
3. Whittle to One and Show Your Family
This is important for a couple of reasons. First it gets you in the habit of making decisions – of cutting options and to focus on doing one thing really well. If you’re not 100% set on one vision, sleep on it and review it in the morning.
With a fresh pair of eyes, you might like one better you crossed out the night before. Lastly, take your one vision and share it with your family. Not only will they provide you with valuable feedback, they’ll have a better idea of what you want to do and where you’d like to take the company. And I’d hope they back you 100%.
4. Build the plan
Finally, figure out the specific plan you want to move forward with. You can accomplish this with nothing more than a list of bullet points on a notepad or a Google Doc. Once you have a step-by-step plan it will make the next steps of the plan straight forward. Before you get your ideas onto paper, it can make the steps needed to execute your vision easier than you might think.
That’s four quick steps to get you thinking about your vision. Whether you’re just starting out or you’re onto your third product line, a 10 or 15-year vision puts you a path to success. How do you know it’s the right path? You’ve just got to start walking.
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