STRATEGY
How a ‘Big Idea’ Makes a Big Difference

Big Idea Business

The best businesses always have something bigger than the pursuit of profit…they have an idea behind them.

The unfortunate passing of Apple’s Steve Jobs rekindled what it means to be a visionary. For Apple, it was superb design and flawless functionality. They then turned an idea into an empire worth more than the U.S. Treasury.

All businesses can benefit from a vision statement. It keeps your business plan focused and it helps set you apart from the competition.

Coming up with the big idea can be tough. To develop your vision statement, consider what led you to start your own business. If it wasn’t a desire to improve upon an existing idea, then consider what frustrations you have with like products or services. Look at your business plan. Ask yourself what you’re going to promise, how you’re going to deliver, whom you’re going to deliver to. Remember to factor in how you meet psychological needs – a powerful selling point that keeps customers coming back.

It’s just as important to know what your business isn’t about. This is crucial if you’re a small business just starting out, as owners tend to be eager to please and overspread themselves into areas they don’t excel in and can’t deliver on. Overreaching also compromises your business integrity.

A solid vision statement that gets across a company’s big idea can really drive your business forward by offering a goal and communicating what benefits you offer customers. It also plays a huge role in developing your brand. It should be part of your business plan.