Beyond the Bottom Line: Linking Vision + Financial Growth

February 5, 2024

vision-growth-blog-post

What’s stopping you from reaching your goal?

When I started my business, my goal was simple: to hit six figures. There wasn’t much more to it.

Having worked with a number of small business owners, I now realize how common this is. Many of us look to financial benchmarks when measuring our success.

I’m not suggesting financial goals aren’t necessary. They are. Increasing revenue is critical to every business. However, today, financial targets alone aren’t enough.

Without a well-defined vision paired with your financial goals, you may, in fact, never reach them. 

Instead, you risk: 

Getting Lost Without a Plan: No vision means no roadmap. Without a clear vision, it’s hard to know if you’re moving closer or further from your target.

Experiencing Team Confusion: Small businesses thrive on collaboration. When employees lack a unifying purpose, motivation dwindles and the collective energy required to move the business forward falls away.

Wasting Resources: The absence of a clear vision often leads to a misallocation of resources. You risk spreading yourself too thin or focusing your efforts in the wrong places.

Missing Opportunities: Without clarity, opportunities and innovations may be overlooked or underutilized. 

A clear vision can be a game-changer for your business. It gives you direction, gets your team on the same page, and sets you up for new opportunities. Not to mention, clarity often leads to greater efficiencies and fewer wasted resources.

Additional Resources

If you’re curious about the links between vision and financial performance, you might enjoy this two-part interview series with Gregory Milano, CEO of Fortuna Advisors about Purpose and Performance. Or, sign up for my weekly newsletter, where I’ll be sharing more tips for weaving together your vision and financial goals.

You’re also invited to join me on February 8, 2024, for Vision for Growth: A Conversation about Leveling Up, where we will explore writing a clearer vision, value proposition, and growth plan for your small business.

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About

Karen-Bailey

Karen Bailey is a brand purpose consultant and specializes in helping companies define their purpose and align their business around it. In 2017, she launched the blog, Purpose Greater Than Profit, to start a meaningful conversation about the increasingly important role of brand purpose, purposeful leadership and a better way of doing business.

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