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Six Traits of Successful Entrepreneurs: Vision

1/1/2025

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Photo Credit: Terry Smith, LinkedIn

By William Ballard

It was during the height of the Cold War when President John F. Kennedy viewed space as a critical Cold War battleground and was convinced that America could not afford to turn over any more ground to the Soviets when it came to pursuing space exploration.

That was when he stood before a joint session of Congress and made the biggest sales pitch of his presidency, “Now it is time … for this nation to take a clearly leading role in space achievement, which in many ways may hold the key to our future on earth.” 
​That was what he said just before outlining his specific vision for the future:

“I believe that this nation should commit itself to … landing a man on the moon and returning him safely to earth. No single space project in this period will be more impressive to mankind, or more important for the long-range exploration of space; and none will be so difficult or expensive to accomplish … It will not be one man going to the moon—if we make this judgment affirmatively, it will be an entire nation. For all of us must work to put him there.”

Many were not supportive of President Kennedy when he first proposed this vision. During the initial phases of attempting to achieve it, one man died, which nearly brought the vision to a halt. But it was on July 20th, 1969, when astronaut, Neil Armstrong, emerged from Apollo 11 and made the following statement: “That’s one small step for man, one giant leap for mankind.”  

Another president whom many have said lacked vision was President George H. W. Bush. In 1987, when he was running for office, he asked a colleague to identify some issues that resonated with voters. According to Time magazine, his friend suggested that he go to Camp David for a few days to get clear on where he wanted to take the country. President Bush responded by saying, “Oh … the vision thing.”

You see, President Bush possessed many positive qualities, but when it came to vision, he viewed it as pointless, uninteresting, or perhaps too difficult.
In his book, The Vision-Driven Leader (AFF), Michael Hyatt said, (AFF), “Vision is the inessential ingredient for successful leadership.”  

As the scripture tells us in Proverbs 29:18, “Where there is no vision, the people perish.” I would also say that there is no purpose where there is no vision. And where there is no purpose, like President Bush, many questioned what he stood for. As you’ve probably heard it said before, “If you stand for nothing, you’ll fall for anything.”

Imagine navigating a ship without a compass or map. Sounds impossible, right?

​Yet, many entrepreneurs embark on their business journey without a clear vision to guide them. According to a study by the Harvard Business Review, companies with a well-defined vision are 20% more likely to achieve long-term success.

In business, vision is not just a lofty idea—it’s the foundation of strategic planning and a catalyst for growth. Whether just starting your entrepreneurial journey or steering an established small business, understanding the power of vision can transform your trajectory. In this article, we’ll explore why vision matters, how it impacts strategic planning, and how you can craft a vision that sets your business apart.


​Why Vision Matters in Busines

​
​A strong vision is the cornerstone of any successful enterprise. It provides clarity, direction, and purpose, ensuring that every decision aligns with the bigger picture.

  • Guiding Decisions: Vision is a North Star, helping business owners navigate complex challenges. Without it, decisions become reactive rather than strategic. You’ve heard it said that you miss 100% of the shots you don’t take, but you will also miss 100% of the shots you don’t aim for.
 
  • Team Alignment: A clear vision rallies your team around shared goals, fostering collaboration and motivation. Employees who understand their role in achieving a vision are more engaged and productive. In his book, The Vision-Driven Leader (AFF), Michael Hyatt said, “If the vision is compelling enough, people will apply their best thinking and efforts to figure it out, regardless of the obstacles and opposition.”
 
  • Sustaining Focus: A strong vision keeps you focused on long-term objectives, even amidst short-term distractions in an ever-changing market. For instance, if you try to operate like President Bush, you’ll become more distracted by the voters' issues rather than focusing on the big picture that keeps us united.

Consider Steve Jobs’s original vision for Apple: to "make a dent in the universe." This audacious goal guided Apple's innovation, from the Macintosh to the iPhone, and positioned Apple as a global leader.
​

The Strategic Impact of Vision


​A well-defined vision is a strategic tool that shapes every aspect of your business planning.
​
  • Setting Goals and Milestones: Your vision inspires your annual plan, which then clarifies quarterly goals, turns them into weekly objectives, and ultimately into daily tasks. In other words, it ensures your plans have a clear direction. For example, a bakery with a vision to “bring artisanal baking to every neighborhood” might set milestones like expanding to new locations or launching an online delivery platform.
 
  • Market Positioning: Your vision will also help you carve out a unique place in the market. It answers the question, “Why should customers choose us?” In other words, your vision will shed light on your unique value proposition.
 
  • Driving Innovation: Your vision will also inspire experimentation and innovation, allowing you to stay ahead of your competitors. Michael Hyatt said, “Vision keeps us attuned to possibilities that align with the future we see.” In other words, without vision, you might lose sight of the possibilities around you, but with a vision, no challenges will stop you. 
​

Real-Life Success Stories

​
Example 1: Patagonia
The outdoor apparel brand Patagonia thrives because of its unwavering vision: “We’re in business to save our home planet.” This vision influences everything they do, from sustainable product development to corporate activism. Their loyal customer base and consistent growth testify to the power of a vision-driven business with a purpose.

Example 2: Blockbuster vs. Netflix
While Blockbuster clung to its outdated business model, Netflix had a clear vision: “Become the world’s leading entertainment platform.” This vision guided their pivot from DVD rentals to streaming, solidifying their dominance.

Example 3: William Ballard Coaching
Our vision of “Helping aspiring entrepreneurs and small business owners transform from merely surviving operations to truly thriving organizations because new entrepreneurs and business owners shouldn’t have to grow a business alone” led us to create our Business & Entrepreneurship newsletter. This newsletter allows more entrepreneurs and small business owners access to our proprietary frameworks, which our coaching clients have access to, but our newsletter subscribers get for half the price.

These examples highlight how a vision can distinguish between a thriving business or failing in today’s competitive landscape.
​

Actionable Steps to Define and Implement Your Vision


Craft a Clear Vision Statement
​

Reflect on your purpose: The best visions always begin with big aspirations. What do you want? What is your heart’s desire? Why does your business exist? Think beyond yourself. Remember, like Martin Luther King's "I Have a Dream," it was something that was bigger than he was, and even though he didn't get to see that dream come to reality, each and everyone of us have. 

Think long-term: When it came to Moses and the mountain, the purpose of the mountain was so that Moses could get a clear view of where he was taking the people -- to the Promise Land. When he lost sight of that "view," he became distracted by the people’s bickering and complaining. But in the end, even though he was not able to enter the Promised Land, he realigned with that vision as he passed the mantel on to Joshua. Where do you see your business in 10 years?

​
Keep it concise and inspiring: Remember, “Where there is no vision, the people perish.” In other words, a vision is less about you and more about the people. A vision statement should be memorable and motivating. It’s the vision that inspires the people.

Align Vision with Business Goals

Break your vision into measurable objectives. As stated above, your vision inspires your annual plan, which clarifies quarterly goals and turns them into weekly objectives and, ultimately, into daily tasks.

For example, if your vision is to “revolutionize healthy eating,” your goals might include launching a product line, building a robust online presence, or partnering with fitness influencers.

Communicate Your Vision Constantly

A vision is not something that should only be shared with your team and stakeholders once a year. It's something that should be communicated often and frequently. Remember: “You lose your Way when you lose your Why.” That said, incorporate it not just into your daily operations or in team meetings but also into your marketing messages.

Revisit Your Vision Often

Periodically evaluate your vision to ensure it remains relevant.​ In other words, you must be able to adapt to industry changes when they arise without losing sight of your core purpose (your vision). Remember Netflix above. 
​

Final Thouhgts


Vision is more than just an idea—it’s the lifeblood of your business planning. It drives strategy, inspires teams, and ensures the longevity of success. Whether starting fresh or scaling your enterprise, now is the time to define a vision that propels you forward.

Take the first step today. Reflect on your purpose, craft a vision, and watch as it transforms your business from good to extraordinary. Then, consider subscribing to our Business & Entrepreneurship newsletter; you’ll be glad you did! 

​William Ballard is the founder and CEO of William Ballard & Associates, LLC. He is a serial entrepreneur and has built a successful career leading and growing organizations based, in large part, on his ability to ask great questions, speak with candor, and identify talented people with whom to collaborate.

​It’s from this foundation that William helps aspiring entrepreneurs, small business owners, and ministry leaders navigate organizational, industry, and societal changes to move their organizations closer towards their vision.

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