How Top Performing Companies Create Inspiring & Effective Vision

Can you answer this question with absolute certainty? 

Where is your company going?

More importantly, can your team answer this question?

You may have some semblance of where you're going, but typically, teams respond in one of two ways:

1. They have no idea.
2. They all give completely different answers.

How do we expect our teams to fulfill the mission when they have no idea where they are going?

Today, I want to share how switching to a 10/5/3 Model of Vision will help you accomplish more of the "right" goals.

The Mission / Vision Kerfuffle

(Yes, I used the word kerfuffle–now twice).

Here is why.

If you Google the concept of Vision or Mission, you get a mixed bag of responses. 

• Some people use the two synonymously.
• Some people use one and not the other.
• Some people define a mission as a vision and others a vision as a mission.
• Some people could care less and don't use either. #Yolo

You see...it's a massive kerfuffle (boom... I used it 3 times). 

Let me clarify this for the entire world and forever end this international kerfuffle (okay, last time, I promise).

Your Mission gives your team purpose and focus by telling them "Why you do what you do" and "What you do." (I covered this topic last week)

It's not the goal or an outcome. 

You'll likely never accomplish your mission.

On the other hand, your Vision is something that should be accomplished. It tells your people "Where you are going" and "What you plan to achieve."

More specifically, where you'll be in 3, 5, and 10 years. The outcome.

Why Do So Many People Harp About Vision?

If you've been at a company with no vision, or even worse, a poorly defined vision, you've experienced the pain of not having clear direction.

Everyone is busy, but you're not quite sure what for.

Years come and go, but nothing has seemed to change. Nothing has been accomplished (except you successfully rolled out that new CRM—six months late and 30% over budget).

If you've experienced this before, I guarantee you were not fully engaged in your work.

How could you be?! You have to have purpose and direction to be fully engaged.

This is why so many companies struggle with disinterested and disengaged teams.

Establishing a clear Mission and Vision is the first step towards engaging your team in something beyond their paychecks.

If you can accomplish that, you might just build the company you've always wanted.

The 10/5/3 Vision Model

The 10/5/3 Model for creating a vision is designed to help your team achieve more of the "right" goals by keeping you laser-focused on what's coming in the near and long term.

To do so, let's start by looking at the long term and then back our ways into the near term.

Step 1: Start with the 10-Year Vision

Find a quiet place to be with your thoughts. Take out a piece of paper and start thinking big.

Like, really BIG! This is your opportunity to dream without limitations.

As Bill Gates said, "Most people overestimate what they can achieve in a year and underestimate what they can achieve in ten years."

So, don't sell yourself short here. Ask yourself:

• What do you want your company to be known for a decade from now?
• What major milestones do you want to have achieved?
• How will your company impact your industry, community, or even the world?

Write down specific achievements, whether it's market leadership, groundbreaking products, significant market share, or transformational impacts. Be bold and visionary.

Do your best to limit this statement to 10 (or so) words.

You should end up with something like "Leading SaaS platform for innovative business solutions worldwide."

Step 2: Define the 5-Year Vision

Now, with the 10-year vision clear in your mind, scale back and think about what you need to accomplish by year 5 to position yourself to be on track toward your 10-year vision. This is where your big dreams start to take more concrete shape. Consider:

• What key milestones will signal you're on the right path?
• What strategic moves, partnerships, or innovations need to happen?
• How will your company's culture and operations need to evolve?

Your 5-year vision should bridge the gap between your present state and your 10-year aspirations.

For example, to stay on track with the 10-year vision above, a 5-year vision could look like "Achieve $10M annual revenue with cutting-edge SaaS offerings."

Again, limit this statement to 10 (or so) words.

Step 3: Get Specific with the 3-Year Vision

Finally, bring it even closer. Your 3-year vision shouldn't feel far-fetched (where the 5 and 10 might). Where does your company need to be in 3-short years from now to best position yourself for the 5 and 10-year visions? Ask yourself:

• What specific projects or initiatives must be completed?
• What measurable outcomes need to be achieved to stay on track?
• What immediate changes or improvements are necessary?

For example, to stay on track with the 5-year vision above, a 3-year vision could look like "Triple user base and launch two groundbreaking features."

Again, limit this statement to 10 (or so) words.

Now, unlike the 10 and 5-year vision statements, 3 years is close enough that in addition to the defining statement, the vision should be detailed, with clear, attainable goals that your team can start working on now.

Think of these as 3-5 key outcomes that give shape to the 3-year vision. Or, as I like to say, "What defines success in 3-years."

For example, using the 3-year vision we already established, they could look something like this:

1. Reach $5M in annual revenue.
2. Expand customer base to 10,000 active users.
3. Develop and launch AI-powered analytics feature.
4. Enhance customer satisfaction with a 95% retention rate.
5. Establish a robust partner ecosystem.

You'll notice how the 10-year vision is rather vague but grandiose. The 5-year vision has a little more definition but still leaves out any planning, whereas by the time you get down to the 3-year vision, you can see, touch, taste, and smell the results.

Putting It All Together

After you’ve drafted your 10-year, 5-year, and 3-year visions, your document should look something like this:

From here, every year during annual planning, review the 3 & 5-year vision statements and the 3-5 outcomes and adjust accordingly to stay on track with your 10-year vision.

With vision this sharp, it will be impossible for your team to get distracted by shiny objects. You'll watch your team develop innovative solutions, stay hyper-focused on the "right" outcomes, and never say the dreadful words, "I have no idea where we are going."

Take the hill, my friends. 

More for your journey next week.