Michael Hyatt shares the power of a compelling vision and how it can completely transform your business. Find out how to craft your Vision Script and turn it into a roadmap for your business’s success, while giving you the perfect filter to avoid the trivial many and stay focused on the vital few.
This is an encore presentation of an episode that aired on August 6, 2020.
- Michael tells the story of how he struggled early on when he and a partner started their own book publishing company.
- Michael’s company had a lot of success and opportunity for the first few years, but a disastrous partnership led to them being $1.2 million in debt and having all their assets seized, leaving them with nothing.
- People don’t always see the history of those who succeed. Great things come all of the time when we hit our low points. Never waste a good crisis. Crises are an opportunity to dig deep and be reflective.
- One of the major issues Michael had with his business was the lack of a clear vision as a company about where they were going. Without a clear vision it’s very hard to discern the difference between a distraction and an opportunity.
- Michael’s company found itself fracturing its focus and attention, spread its resources too thin and everything fell apart.
- Michael went back to work for Thomas Nelson and was given responsibility for one of the 14 divisions of the company, specifically the worst performing division in the whole company. This was where Michael first implemented the Vision Script and described what that division would need to be to turn it around.
- The Vision Script became so inspiring for the team that the division managed to become the highest performing division in the company in only 18 months and stayed that way for the next decade.
- No matter where you are in an organization as a leader, being a leader presupposes that you are leading people somewhere, which means you must have clarity and vision.
- There is a big difference between a Vision Script and a Vision Statement. A Vision Script is a detailed document that describes your future business in detail three to five years in the future written in the present tense.
- A Vision Script is broken down into four different sections. The team, the product, the marketing and sales, and finally the impact. This is essentially a whole brain description of your future vision.
- Before executing your vision, you have to create alignment in your organization around that vision. This is not something you can outsource as a leader, you need to do it yourself. Start with the highest level and then cascade it down.
- To get buy in from your team solicit their feedback. People buy into what they help create and this takes the burden off of you as a leader.
- Your Vision Script should be the first thing you check in at your annual planning meeting. You must have a cadence of review in your organization because vision leaks, you need to be constantly repeating the vision and reinforcing the path. When you come up with your annual goals, ask yourself what are the seven to ten things that will move you towards your vision and when they are deliverable.
- Your quarterly goals will inform your weekly priorities, and further down to your daily MIT’s. Limiting yourself to three major goals each quarter is more effective than aiming for a higher number of goals at the same time.
- A vision helps you identify what you’re going to focus on but it also allows you to exclude what you’re not going to focus on if you use it as a filter. If something falls outside the scope of your vision, it becomes an easy “no”.
- Strategy answers the question how you are going to get from where you are to where you want to go, and should be revised as often as necessary.
- All progress begins with an honest assessment of where you currently are, because it’s hard to move beyond where you are until you get honest about where you are.
- Establish hard boundaries around your work. When you restrict your work time you force yourself to get things done in the time allotted. With a clarity of vision you are able to create boundaries and choose what is the most important.
- In line with the Pareto Principle, what are the three actions that are going to drive the biggest results in your business?
- A lot of people think that to get more you’ve got to do more, but it’s not what you do, it’s about doing the right things. It all comes down to your vision which gives you the courage to say no to the trivial distractions.
- In order to serve your clients fully you have to be able to say no to lesser opportunities. Michael describes the systems he uses to protect his time and deliver his best every single day. Any structure is better than no structure at all.
- Michael has a powerful system of automation that simplifies his responses and saves him an incredible amount of time that anyone can apply.
- Michael uses the Power of No formula to make sure that he protects his time and honors his commitments without closing any doors permanently. People are used to not getting a response so they end up appreciating this kind of response. Most people can handle a no, what they can’t handle is no response.
- People are vision starved. As a leader, if you have a clear, compelling vision you will be amazed at how confident you will show up and how well your team will respond.
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