Transcription
[Music] In this video, we'll talk about vision versus execution. So, what is the difference? Vision is great. In fact, it is the starting point for all big things to come. But vision means very little unless executed. What this means is that it's great to have a plan, but simply having a plan cannot get things done. It hardly even acts as a catalyst anymore.
Take the very common example of trying to lose weight. You know you need to work hard and put in a certain amount of effort to shed off the extra pounds. If you fail to lose weight on a diet, then is the diet the problem, or is it because you didn't follow through consistently? The vision was to lose weight, and the execution required you to invest time, effort, and a lot of willpower into the process. Were you able to deliver?
Another way to look at the same is trying to expand your blog. If your blog isn't growing, is it because your marketing strategy is poor, your writing style not up to the mark, or simply because you can't seem to create enough useful content? You may have the vision to create a blog with broad readership, but do you have the strategy and execution to take it that far?
Now, vision and execution are not exclusive. In the business world, although almost everything written about the topic refers to entrepreneurs and leaders, it can apply equally to everyday, non-businesslike situations as well, as we've just seen. So, while a lot of the examples in this video course might sound like they have to do with good leadership qualities only, feel free to apply the same to your personal aims and goals in daily life.
Going by this working title, let us assume that every goal demands a minimum work threshold. If you do not invest at least a certain amount of effort, you won't get results. Based on the nature of the goal, the effort required may vary, but the rule remains that you need to be engaged in following through.
Now, go back to the example of trying to lose weight. If getting in shape requires a minimum commitment of grueling for three hours per week, and you only do it for two, you won't get the desired results. Likewise, if becoming a successful blogger demands you to put in 1,000 hours of productive effort, and you only contribute 400, chances are you'll fail. So, even with a good plan in place, results do not come unless the plan is followed through. Once again, vision needs execution to deliver results.
A vision for personal goals could be anything ranging from improving your health, mastering a culinary skill, becoming a better person, or even becoming more sociable when in company. In fact, it could be anything that empowers you as a person or makes you feel like an achiever.
In terms of business, vision is the grand idea of where your company may go as an extension of where it is already. A vision statement organizes your thoughts and distributes them to the company. The statement is often lofty and future-based, but still needs to be organized and planned carefully. It's kind of like a road map which points out the direction you'd like to follow. It's very important to have a solid vision since it is basically the stepping stone for planning your business. Your vision statement should include all of the following elements: Finance, how to fund your projects or sustain and support your business; Reputation, among staff, competitors, and clients; Service quality standards, focus on making clients a priority; Growth, a plan on how to increase locations, get more customers, expand inventory, and innovate some more; Passion, articulating your dreams and hopes for the business; Sustainability, determining your financial and environmental sustainability. Essentially, your vision will provide the groundwork or blueprint before you go into the execution phase.
If vision defines your goals, then execution gets you to those goals. The success of any individual or business organization relies on its potential to convert a plan into reality. People who follow through on putting their plan into action with a solid strategy often achieve those goals. Businesses that take on a logical and disciplined approach to doing things use many different techniques to convert their ideas into outcomes.
A word of caution: execution is never perfect from the start, so be ready to face obstacles along the way. No matter how solid your idea may sound to you, you need to realize that the path to getting that idea executed and achieving results will be a constant work in progress. There really is no way that you or anyone else on your team can know from the get-go what the end result will look like. Your part in all of this is to make sure that actions are continuous and that changes are welcome.
Rather than spending time in the planning process, some common pitfalls to avoid, especially in business scenarios, along the way can include the following: spending too long on the planning phase; wanting to implement all phases at once; making money a priority in the project and not the project itself; allowing personal emotions to keep others from helping; acting alone and not consulting with the team.
Any successful entrepreneur will tell you that ideas are worthless without execution. Anyone who has ever attained their goals will also tell you the same. That's why the two need to be brought together so that the results get produced. However, there's an entire process from vision to execution, which we will look at very briefly here and in greater detail elsewhere. Step by step is the way to go.
In essence, vision is the only big idea behind every good or great plan. What it needs for it to have an effect is a strategy by which it can be implemented. Now, strategy is what you will follow to achieve that big idea. By comparison, vision is a where and what, while strategy is a how. Both vision and strategy are indispensable, and missing either leaves you without direction and the capability to manage effectively.
Once you have a vision and strategy in place, the next step is communicating your idea and implementation plan to others. It's only when the plan is communicated to others that it can be effectively followed and executed. This holds true wherever a team is involved. You may be a gym teacher, a health guru, a motivational speaker, or a businessman; you need to communicate your ideas well.
Once your vision has been communicated to others, it is time to take some action, and it is not only you that needs to act alone, but everyone on the team needs to do so too. Let's say that everyone involved in a project decides to act. So, what's next? This is important, as it involves going back and reviewing whatever you've done so far. Successful individuals and organizations keep a close tab on the progress being made and how much work still remains. So, reviewing not only helps you with assessing progress but also charting the way forward. It also ties into accountability, where you not only hold yourself but also your co-workers, colleagues, students, or employees accountable to your vision and the actions that anyone has taken to get there. Accountability also paves the way for corrective action if required.
If you can get through all these guidelines, then you have successfully executed your vision and no longer have an execution problem. However, the process is not as basic or simple as described here. After all, this entire video course is dedicated to the power of execution, so there's a lot more to come.