What’s your vision?

There’s a certain way you come to view money when you are an entrepreneur. This is mainly because of the challenges you face while working for yourself without a regular salary; your relationship with money shifts. You are forced to take a long-term perspective.

Many people who go into business are usually not ready for this. I certainly wasn’t; I had a certain expectation of how things would turn out, and no one told me about the reality of it.

Many start-up owners draw business plans projecting attractive profits in all of two weeks. But things do not go smoothly and you have to adapt almost overnight. This is when many people give up and turn back. What they do not realise is that they just need time to develop a thicker skin and change their perspective. This is called ‘vision’.

If you are short-sighted you will need spectacles to see the things that are far away clearly. The more short-sighted you are, the stronger the lenses you will need. In the same way entrepreneurs need to put on these spectacles of ‘vision’, particularly in relation to money.

Money follows vision, not the other way around. Time and time again I have spoken to people about entrepreneurship and met many who want to build great businesses. The problem is that their primary motive is to make money. In my experience, this does not work.

POWER OF VISION

Yes, money is important, but your business has to have purpose first. Why does the business exist? What problem is it solving? Are you passionate about what you do? From where you stand, where do you see it going?

Vision gets you up in the morning even if there is no customer. Vision helps you make connections that others can’t. Entrepreneurs learn that they cannot serve two masters; it’s either money or vision. I’ve said this before: I believe money is a good servant but a terrible master. Money will follow and be attracted to vision.

People with vision become innovative and resourceful about getting what they need. They attract capital. Their passion sells them. I was recently a judge at a business start-up competition and we had to go through loads of business presentations. It was extremely easy to see the difference between those who put together a business plan to win the prize money and those who had a vision.

Vision keeps you going when there is no money. Entrepreneurs face all types of challenges with money. Perhaps there are not enough customers to pay the bills or to pay yourself. You may run a business without breaking even for a while. Profits may not be seen for years. There could be profit in some years and none in others. Money may be needed to make certain investments.

It’s hard to get through these periods. However, the pull towards where you are going is always stronger than staying where you are. You may make some tough practical decisions along the way but you keep going and you hang onto that single ray of light that shows up. Many times for entrepreneurs, the one thing that works is more important than the 20 things that did not.

Vision also stops you from making some decisions out of fear. A bad period does not necessarily mean downsizing. The bigger picture dictates what needs to be done in tough times. It may also help you realise that there were costs you were incurring that were not lining up with the vision. On the flip side, vision keeps you grounded when there is money. I was speaking to someone who mentors entrepreneurs.

The bigger challenge, he said, is when people make some money. Then they get excited and spend it. Vision will keep you keep calm even with hundreds of thousands, millions, tens of millions and for some people, hundreds of millions in their bank account. The vision is always bigger than the money available.

SERVE THE VISION

Vision keeps you moving. Our society touts success as having a great house, car, clothes, lifestyle, holidays, etc. This is why people get excited when money comes in. There’s no space for vision if having the latest car is what drives you. Vision doesn’t let you get comfortable. I believe that as long as you are alive, you are meant to live with vision. Vision unfolds continuously.

People who get comfortable usually end up stagnating. Businesses that get comfortable can even go backwards financially. You find that they start taking their clients for granted, assuming that they will always be there. Financial targets are good to have.

However, a monetary value is very unfulfilling. If you make a million, you will want two, then five, then ten. You will never have “enough money.” And finally, it can be here today and gone tomorrow.

The fruits of you pursuing your vision will, however, always give you a satisfaction that meeting your financial goals cannot compete with. The building may not be complete but you will be able to see that you’ve reached the first or second floor, irrespective of the money in the bank.

Vision also keeps you giving. It’s not all about you and what you can get out of this: It’s about impact, and giving those around you a helping hand. Vision makes you give your time, some of your products and services for free, have CSR initiatives, mentor, and so forth.

Money is important but we need to put it in its place.

Serve vision, not money. Remember, without vision, people do perish.