So you\u2019ve hit the ground running with an idea that seems scalable and set up the basic framework for your startup. You introduced your co-founder to your family, knowing you\u2019ll be married for a while and doing life in the trenches together. Peers, mentors, and investors have heard your revised pitch after it\u2019s been fine-tuned for the umpteenth time.<\/p>\n
When you have a network of support built on trust and good faith, you can breathe easy. There\u2019s no way these people are in it for the money\u2014at least not right now. Your idea is big, but your company has a net-zero profitability. You may even have a net negative cash flow, depending on how much money you spent on pitch competitions and startup accelerator programs. People are investing in you because they like your idea and believe in your vision. The return on investments will hopefully materialize in the years to come.<\/p>\n
As you toast to your new company name, you probably weren\u2019t thinking about how to recruit and retain the best talent, how to hire a lawyer, or how to decide on a bank. Back up two steps. Celebrate your company\u2019s milestone first. Then, before you deal with human resources, legal, accounting, and finance, let\u2019s talk about your vision and values.<\/p>\n
This could be freely discussed over drinks with your co-founder. But have a follow-up conversation where someone is taking notes. Be honest and open-minded about what kind of work environment you want to create as founders and what experiences and perks you believe will give people incentive to join your team.<\/p>\n
It\u2019s easy to push vision and values further down your list of priorities and skip ahead to business modeling and building out your products, but at the end of the day, your employees are the most valuable assets to your company. And in order to hire and retain the best talent, you need a vision by which people will feel motivated to work for you, invest in your business or buy your products.<\/p>\n
Vision is more than getting people to achieve a common goal. It requires thinking long-term and outlining the values your company will hold onto regardless of timeframe or circumstances. It gives people direction and a purpose knowing that they\u2019re making a difference by being part of something greater than themselves. It also informs the culture of a workplace and is the glue that holds a team together when products and markets fail.<\/p>\n
Let\u2019s look at some examples of successful companies with strong timeless visions.<\/p>\n
Google upholds the idea that it wants to \u201corganize the world\u2019s information and make it universally accessible and useful.\u201d Twitter wants to \u201cbe the pulse of the planet.\u201d Amazon is determined to be the \u201cearth\u2019s most customer centric company\u201d by building a place where \u201cpeople can come to find and discover anything they might want to buy online.\u201d<\/p>\n
Notice how the visions of these companies are not specific to one product or service. A company\u2019s vision shouldn\u2019t be narrow tailored by trends, technologies, and social media that often shift with the tides as new ideas and gadgets emerge. These visions are general for a reason. They leave room for setting clear goals that define their path and progress.<\/p>\n
Here are three high-level strategies that can help shape your long-term vision and values.<\/p>\n