Episode 170 - 5 Steps tp Executing Your Vision Like A Pro!

 Good day and welcome to the Budding Entrepreneur Podcast. I'm your host, Randy Bridges. In each episode, we dive into practical business strategies that you can put to work in your business right away. 

We also focus on inspiring stories from leaders who are shaking and making things happen in their industry. It's all about giving you the tools and insights to take you and your business to the next level. So get comfortable and let's jump right in.

All right, all right. We are on episode 170 of the podcast. Today is Friday, October 18th, 2024.

Last week, we dug into the power of a clear vision and how to create one that will push your business forward. This week on our agenda, we're taking it a step further. Our episode title is Executing Your Vision Like a Pro. 

Because what good is a vision if it stays in your head, right? So today, we're going to focus on executing that vision, turning those plans into reality. I'll be walking you through the steps you can use to bring your vision to life. And before I forget it, I've got a fantastic quote for you today that's right on target for what we're talking about. 

We're going to refer to one that has been attributed to Thomas Edison, but also quite a few people in the past. And this one says, vision without execution is hallucination. And today, we're going to do our best to make sure your vision doesn't stay a hallucination. 

It's time to act. So let's dig in a little bit here and get to know more as an overview of this execution of vision. Okay, so what does it mean to execute your vision? Well, let's picture something like this. 

You've developed a great vision for your business, you're excited about it, but then you hit a wall because you don't know how to make it happen. Well, the idea of a vision is to create consistency in your action plan, to align your team with the vision that you have, and to make sure the tools and processes you use every day are pointing toward the same goal. Our primary goal is to get out of our heads and into action, and that's what today is all about, moving from dream to reality. 

So let's start with something simple. Step one, break down the vision into actionable goals. You have this huge vision, and it's amazing, but it's simply too big to eat in one bite. 

The easiest way to start out is by getting it out of your head and onto paper. Start by dividing it into smaller achievable goals, kind of like building a house. You don't just say, let's build a house. 

You start with building the different rooms, completing how you want to use it, which gives you the overall layout. That allows you to lay the foundation, and you begin building it from there. It's much the same as with goals to execute your vision. 

Now your goals need to be both short-term and long-term. Focus on what will get you results quickly, but don't lose sight of the bigger milestones that move your business toward your ultimate goal. You've probably heard it many times, but the one guiding principle of goals is this, make sure they are SMART. 

That stands for specific, measurable, achievable, relevant, and time bound. See it gives you a clarity on what's expected, what is reasonable, and how long it should take to complete. Step two is delegate and empower your team.

Now this is a tough one for a lot of business owners. Execution isn't a solo act. You've got to delegate and empower your team. 

The vision is bigger than any one person, and your team has to know their roles to contribute and make that vision a reality. Start by communicating your vision clearly, empower them to make decisions within their role, and to take ownership on their own. When your team feels empowered, they're going to be a lot more committed to seeing your vision through, and that's what you want, team buy-in. 

Step three is implement systems and processes. Something near and dear to my heart. If you don't have solid systems in place, your vision is going to stall out. 

Systems drive execution. Think of them as the engine that keeps everything running smoothly. Automate the processes where you can. 

Create workflows that make sense, implement processes, and you'll ensure that your team isn't constantly putting out fires. That's part of your job. The idea is that the systems and the processes should drive the activities of the business, so that your people can oversee and manage the outputs. 

This isn't just about technology, although trust me, automation is going to be your friend, but it's about setting up consistent processes that make sure your business can handle growth without losing quality. Don't forget to build reports. They can provide evidence of both efficiency as well as breakdowns. 

You can assign less skilled employees except in specific areas that require it, and that's going to save you a ton of money. Step four, measure progress regularly. It's related to the reporting above.

One of the biggest mistakes I see is that business owners don't measure their progress often enough. Track and measure where you're going. Think of it as a pilot flying a plane. 

They don't just look out the window and hope they're going in the right direction. Pilots have instruments that tell them exactly where they are at all times, and in your business those same types of instruments are your metrics and KPIs, the key performance indicators. These numbers and the information they give you will tell you if your team is hitting their goals, if your systems are working, and they'll also identify where you need to make adjustments. 

Don't wait until the end of the year to check your progress. Weekly, monthly, and quarterly reviews will help you stay on track and pivot when necessary. And to add something not as obvious, keep track of how far you've progressed. 

Perspective is often gained when you consider how far you've come, which is a more important aspect when compared to how far you are from your destination. In coaching early business owners, they often overlook or simply skip how far they've come. They say, but I'm not where I want to be, and it's probably the most common refrain I hear. 

Even if you suppose that's true, the real learning can happen when you look back along the past pathway to see where you lost your way. See, great entrepreneurs often have a two-way view approach. They look both forwards and backwards, and sometimes they have a four-way view. 

Along with forwards and backwards, they look to the side for something coming either way. Now, I've often heard that a 360 degree approach is good. You know, you want to be aware of everything around you. 

But I focus in terms of the Pareto principle, also called the 80-20 rule. The most critical and fatal issues for a business come from roughly 20% of all the challenges. So don't overthink it. 

Measure the progress that gets results and overcomes your weaknesses. Finally, step five, adapt and iterate. Execution isn't a one-and-done deal. 

You want to stay flexible. Things will change, challenges will come up, and sometimes you'll realize that your original plan needs a tweak. That's all right. 

It's just part of the process. Adaptation is the name of the game here. Use everything you've done so far to regularly assess what's working and what's not.

Don't be afraid to shift gears when needed. Whether it's tweaking your goals, changing a system, or even realigning your team, staying flexible is key to executing your vision without getting stuck. So let's do a quick recap. 

To execute your vision effectively, you need to, one, break down your vision into actionable, smaller goals. Two, delegate and empower your team to take actions. Three, implement strong systems and processes to keep things running smoothly.

Four, measure your progress regularly to ensure you're on track. And five, iterate and stay adaptable. Be willing to make changes when needed.

Next week, we're going to shift gears a little and dive into another part of this execution that is equally important, and that's maintaining momentum in your vision. Because executing your vision is one thing, but keeping that momentum going is where a lot of people fall short. So be sure to tune in next week for episode 171, keeping you and your team motivated and moving forward.

Now I have an announcement. I don't do this often, but I really want to make this a firm part of the podcast as the second half of it. Starting at the end of this month, I'm introducing a workshop series that will be based on our monthly topics. 

It's going to be a great way for you to reinforce all the things we cover during the course of a month. These workshops will provide you with an opportunity to get your process reviewed, to ask questions, and develop the hands-on process that wraps up each of the different episodes. You'll be doing this with me. 

Now I'm planning it for the final week of each month. There's no cost because I believe it's important to give back to everyone who's making it possible for me to invest in this podcast and that is getting something from it. Now I'll put a link in the next week's podcast notes so you can sign up for the workshop and I'll add it to social announcements as well along with the regular announcements I make. 

Again, I'm planning it for the final week of each month. I hope you take the time to build your entrepreneurial journey using the combination of these workshops and the podcast. That's it for this episode. 

I hope you picked up some valuable insights and maybe even sparked a few new ideas. If you want to keep the conversation going or maybe even explore partnerships, don't hesitate to reach out. And hey, don't forget to subscribe, leave a review, and share this with someone who needs to hear it. 

The steps you take today could be the start of something big tomorrow. For The Budding Entrepreneur, I wish you the best in your health, your wealth, your business, your family, everything about you. Take care and we'll see you back here next week.