Having a shared vision in your company amongst potential Deal Team members, advisory board members, and investors leads to fundraising success. Shared vision has to do with leadership that inspires action and starts a movement. People support those who share the same vision of the future. The vision is the driving force behind the sweat, tears and money invested in a company. The articles and videos below expand upon the concept of shared vision.
1. How Great Leaders Inspire Action
Simon Sinek advocates starting with answering the why (belief and purpose) of a company then span outwards to how and what. Great and innovative companies such as Apple utilize this approach. By stating the belief and vision, numerous people identify with Apple and support it. Show your “why” when prospecting for employees, advisory board members and investors.
This Harvard Business Review article shares research data on what people expect of leaders and vision.
“In an ongoing project surveying tens of thousands of working people around the world, we asked, “What do you look for and admire in a leader (defined as someone whose direction you would willingly follow)?” Then we asked, “What do you look for and admire in a colleague (defined as someone you’d like to have on your team)?” The number one requirement of a leader—honesty—was also the top-ranking attribute of a good colleague. But the second-highest requirement of a leader, that he or she be forward-looking, applied only to the leader role. Just 27% of respondents selected it as something they want in a colleague, whereas 72% wanted it in a leader. (Among respondents holding more-senior roles in organizations, the percentage was even greater, at 88%.) No other quality showed such a dramatic difference between leader and colleague.”
Inside Intercom’s article offers examples of strong vision statements of various companies along with a visual and written guide on what vision is compared to goals, strategies and tactics.
This INC article emphasizes the importance of shaping engaged employees who are excited about your company. The article goes further and shows you how to cultivate engaged employees.
“…[I]f you can sell your employees on the company’s future and the importance of their role in it there are numerous advantages. “People are more likely to generate their own ideas, to contribute with enthusiasm, to keep slogging when it becomes unpleasant, and also to experience a sense of camaraderie and togetherness,” says CV Harquail, author of the blog authenticorganizations.com.”
This article contains an interview with prominent Silicon Valley VCs and their expectations of startup founders regarding great vision. A strong vision attracts investors with the ability to relate to the vision. “Every VC falls in love with different things, so founding team should do their homework on presenting their ideas in a way that makes it easier for VC to fall in love with the idea and the startup team.”
Being able to articulate your vision to partners, employees and shareholders is a crucial skill. What entrepreneurs do you think are doing a good job of this? Share your feedback in the comment section below!