Fact: There is no one-size-fits-all solution, but there is a proven formula to scale your business that I have been practicing and refining over the past 30 years. To make the big shift from entrepreneur to 7-figure enterprise, you need a roadmap or what i like to call a company's strategic vision. This is why I developed my S.C.A.L.E. Formula® that I have used to build many of my companies and in coaching thousands of business owners.
There comes a point, where you need to move beyond what came first – the earlier reasons that drove growth and success in your business. In order to reach your pinnacle and elevate toward 7-figure enterprise success, you need to learn to scale. Scaling basically means replicating your impact and talents beyond yourself, so that you can reach a much larger market and expand your revenue. Let’s start at the beginning by learning how to create your company's strategic vision.
The 5 Elements of my S.C.A.L.E Formula® are:
1. Strategic Vision
2. Cash flow
3. Alliance of your team
5. Executing Your Plan.
In this post, I cover part 1, creating your company's Strategic Vision, or what I call, Your Big Picture Vision.
What is a company's Strategic Vision?
I call this your Big Picture Vision because it is the 30,000 foot view of your company. It is envisioning the long-term value and direction of your business. Creating your strategic vision requires you to look through the lens of longevity, so that you can translate your vision into challenging and meaningful goals, and connect big-picture strategies with short-term goals. In other words, it means 3 things:
- A broader view of your business. What is your context? Think industry competition.
- A distinct mission for your business. What makes you unique? Think results.
- Finally, a plan to move your business forward. How do you create greater value? Think bottom line.
If you want to learn how to create your Big Picture Vision and how to put the right strategic vision in place, you have to play the part. Therefore, you have to be a leader to make the big shift from entrepreneur to 7-figure enterprise. And, the road starts with defining your vision and aligning your strategy to get there.
7 Steps to Creating your Company's Strategic Vision
The S.C.A.L.E. Formula® – Step #1: Put the right Big Picture Vision in place. Just like the thousands of entrepreneurs that I have worked with, you need to know how to create your strategic vision. Therefore, you need my 7 tips to creating your Big Picture Vision.
1. Imagine and Dream about your company's strategic vision.
Let's look 3 years ahead from now. If money and resources were no issue, what kind of business would you want to create? If you walked into your office 3 years from now, who would you like to see on your team? What kind of revenue streams would you create? What kind of clients do you want to be working with? How do you most want to be spending your time? Take the time to answer these questions. When coming up with your answers, be creative and outlandish. Start by writing stream of consciousness and allow the ideas to flow. Write in present tense as if this is happening in the present moment. After all, the more clear you are on your Strategic Vision, the more your team can get behind you and help you make this dream a reality.
2. Define the Team you need to create your company's strategic vision.
Even as you scale your business towards a 7-figure enterprise, you are still the lead entrepreneur and CEO. But, let’s not forget that Rome was not built in a day and it certainly was not built by one person. Because of this, you need a team, even if that team is one person, besides you. After all, you have to start somewhere! The S.C.A.L.E. formula requires that you put the right strategic vision in place, and then knowing how to implement your strategic vision requires your leadership team.
Therefore you must define the team. After all, you must have a team of leaders and facilitators that will be a part of the entire process. Start by outlining a broad view of your business, a distinct mission for your business and a plan to move your business forward is often a point of heated discussion. And, working out how to create your strategic vision, is not a solo venture. If you want to make the big shift, then write out your dream team and start assembling them one by one as you grow.
3. Opt for Transparency when creating your company's strategic vision.
Get your entire team together for an entire day if possible. Even if you have free lance contractors, it is helpful if they can participate in the vision process. During this process, be honest with yourself and everyone at the table. With something as important as realizing how to create your strategic vision, transparency is king. Finally, if you are all in, and you want to put the right strategic vision in place, do not push anything off the table. Everyone must be completely open and brutally honest.
Personal agendas, pet projects, sacred cows and preconceived notions have no place in this process. SImilarly, leave the bureaucracy at home and politics at the door. If you focus on the task at hand, your business will be left with the right overall vision and strategy for scaling to the next level.
4. Find your SWOT to Scale Up.
Now is the time to return to the basics so you can scale your business to the next level. In order to do this, a strong foundation must be laid to reach exponential growth and massive results. When learning how to create your strategic vision, a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis is a very good idea. As a team, share your thoughts on these four areas and then discuss solutions and ideas to move each area forward. Put all four quadrants on the wall on big posters or post-it notes. Above all, allow everyone to comment on the good, bad, ugly and wonderful!
5. Hash it out.
In order to hash out how to create your strategic vision, you must repeat a very simple process. It goes like this: 1) brainstorm, 2) debate, 3) come to a conclusion and 4) repeat. Practice makes perfect.
If the vision crystalizes and the strategy strengthens after repeated impassioned discussion, then you are in business. Of course, the specifics of this process may look different for every business, every leadership team and every CEO, but the roadmap behind how to create your strategic vision remains the same. In the meantime, don’t be afraid to explore various market opportunities.
6. Determine the ‘Who'.
Once you determine what objectives need to most attention and what solutions you want to put in place, assign a team member to organize the project. Also, determine the exact due date and time and who will be keeping this team member accountable. The vision is pointless without execution, therefore it's important to put parameters in place early on.
7. Get Feedback on your company's strategic vision.
Start by going back to the key players and getting feedback. Who will it affect most? After that, work with a coach to help you create this important vision and then make sure you implement it successfully.
You need to focus on learning how to create a strategic vision that goes beyond paper. Therefore, putting the right strategic vision in place requires feedback. There is no better way to test if your strategic vision is tried and true. After all, it must stand the test of time if you want to make the big shift from entrepreneur to 7-figure enterprise.
Have you been left wondering how to scale your business to the next level? You have the basics – a passion to fulfill, a desire to leave a mark and a bottom line to meet. Therefore, it’s time to lay a strong foundation to grow towards massive results and into exponential success.
Making the big shift from entrepreneur to 7-figure enterprise requires a breakthrough. Step into the inner circle with me! This process starts with creating a strategic vision. At the end of the road awaits a CEO success network full of influencers, movers and shakers, and valuable connections that have all followed this exact roadmap. It’s time to experience your next breakthrough!
A Big Shift: The CEO Success Network Retreat
As you begin to scale your business, you are shifting from entrepreneur to leader, building a strong company culture and loyal customer following that cannot help but refer you to all their friends. Therefore, you will face the challenges of letting some people go that cannot grow with you, while taking bigger risks than ever before. Slowly you will find yourself getting better at making unpopular decisions. Yet, you will be ready to inspire your team with something beyond money and profit.
If you can relate, there's a place for you. The CEO Success Network Retreat. This very exclusive 3-Day ‘think-tank’ and powerful training on the beach in Coronado, CA is for ambitious business owners that are ready to scale. Join leaders of the country’s most dynamic businesses for a rare chance to build strategic relationships, formulate real growth and walk away inspired…with a plan. www.ceosuccessnetwork.com
Are you ready to scale your business?
Start working smarter, not harder! Download our 17 Ways to Scale Your Company Fast. This includes a FREE Download and as well as a video training with Allison Maslan.
Voice for Business Success
Allison Maslan, CEO of Pinnacle Global Network, The World Leader in Scaling Businesses. She is the Wall Street Journal Best Selling Author of, Scale or Fail, which is endorsed by Daymond John and Barbara Corcoran of Shark Tank. Allison’s built 10 successful companies starting out at age 19. Her client list has included Ben & Jerry’s, Supercuts, Charlotte Russe, and Allstate.
Now she and her team of CEO Mentors pay it forward by helping business owners scale their companies, fast-track their success and create a more meaningful life. The Pinnacle Global Network, her private mentoring and mastermind enterprise has guided thousands of business owners over the past 10 years. Allison’s been featured in Inc., Success, Fortune, Fast Company and Forbes Magazines, is a regular contributor to Entrepreneur Magazine and a featured expert on ABC, CBS, NBC, CNN and Fox across the US. Allison has also hosted her own podcast, The Scale or Fail Show, since 2011.