Entrepreneur Vision

TRANSFORMING
THE
ENTREPRENEUR
VISION
When you think of yourself as a
successful entrepreneur, what types
of images or feelings do you
experience?
 Vision is an important part of everyone’s future, and
this is especially true for entrepreneurs. Establishing
your vision is the first of several steps toward
making your venture a reality.
 Although there is no secret to success, you do need

to have some idea about what you envision for your
entrepreneurial future. What do you see in your
future? How do you want to contribute to the world?
Entrepreneurial Vision
 Every successful entrepreneur that you encounter or read

about likely started with an image or idea related to
something he or she felt passionate about creating. This
occurs even when the person has no idea how (or if) what
they desire to accomplish or create will become a reality.
 An entrepreneur’s vision is the start of a roadmap that
will determine where he or she wants to go with their
entrepreneurial efforts. Vision speaks to what the
entrepreneur wants the business to look like in the future
—perhaps five or ten years out.
 A vision statement is the picture you have for what the
venture will become in the future: what it will grow into.
 The mission statement is a formal declaration about what
the venture will do, what value it will provide to the end
customer, and how it will accomplish this action.
 The value proposition is a summary statement that
conveys the benefits your product, service, or unique
business process/model provides to customers. This
relates back to the perspective of problem solving.
WORK IT OUT
FINDING A MENTOR
Mentorships can provide you with numerous benefits
 An entrepreneurial vision considers what you
want your venture to become, what this venture
will look like, what the driving forces are, and what
values and culture should surround it.
 Each individual entrepreneur has a unique picture
of what the venture will become.
Creative Approaches to Developing Your Vision
 In the preparation stage, gather information and collect
ideas. As part of the process of tapping into creative ideas,
you can apply divergent thinking by generating as many
ideas as possible, even when those ideas do not seem
logical.
 This incubation period is essential for advancing creativity.
In the incubation stage, you might go for a walk, take a nap,
or just continue with your daily activities. At some point,
you may have a sudden inspiration or illumination—
an aha! moment—that clearly addresses the activity or
problem you want to solve.
 The last step is verification, crafting our vision
statement or message, or responding to the exercise in
creative thinking. You can apply this creative thinking
process to many different business situations.
 Mind mapping is another popular technique for
creative thinking. Here, you create an illustration on
paper or a chalk board. Write down the words that
come to mind then link those words together with
lines in a diagram that shows how each word relates
to the others.
Achieving Balance
 Entrepreneurship comes with many challenges because

the entrepreneur must wear many hats. This is
especially true if the entrepreneur is the only employee
in the business. But regardless of the business model,
all entrepreneurs must be able to achieve balance in
their lives between their dedication to growing their
entrepreneurial venture and their personal life.
 Developing a vision that includes different areas of
your professional and personal life can help make this
type of balance achievable.
The Importance of Goals
 Entrepreneurial vision imagines a future, whereas goals

focus on a desired outcome. Although vision is key to
creating the future that you want for yourself and your
business, goals are important to help you realize the steps
needed to make that vision a reality.
 Read through your definitions of success and your vision
statement. Now create a list of possible actions that will
help you achieve success and accomplish your vision.
Review your list and categorize the words and actions in
terms of relevance and time frames.
SMART goals
LINK TO STUDY
 https://openstax.org/books/entrepreneurship/pages/
1-2-entrepreneurial-vision-and-goals

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TRANSFORMING

 Although there is no secret to success, you do need

 Every successful entrepreneur that you encounter or read

 Entrepreneurship comes with many challenges because

 Entrepreneurial vision imagines a future, whereas goals

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