From episode: TGMS Ep: 127 Reasons Why A Business Owner Is Not Successful
The Bible says where there is no vision, the people perish. They die where there is no vision in business. There is lack of direction. There is little to no growth. There's indecision. There's costly delays and there's death. They perish. Okay. A strong vision of where you want to be and attainable goals to help you get there are essential to success. So if you want to fail, have lack of vision, it won't take long with no vision, you will perish. Okay. The focus should be on quality, not quantity. Growing too fast. When you have a lack of vision, you don't have strategy. You don't have control. You don't have direction. So you could have a tendency to grow too fast. In other words, taking on jobs that you shouldn't take on. And I've said before, growing too fast without a plan will take you under faster than lack of capital. So when you have lack of vision, you could grow too fast, which will lead to loss of revenue and cuts and failure. And a clear vision will help keep you focused on what works, allowing you to have the freedom to or reject trim or... You know what? I'll tell you what, that's a great word, freedom. Because when you're doing well in business and you're making a good profit and you're paying your people well and you're paying your bills on time and you're just making things happen for the community and all those types of things, you have the freedom to make decisions based on what you want to do and not what you have to do. In other words, if I'm going up against someone right now on a job, if we're going up against a job, another company today, and for some reason, they're trying to take the job away from us and let's just pretend their regular price on a system is, let's just say it's 13 ,000. And so we know about where they come in and they come in on this one at 11 ,500. If I want to, I can sell this job for 10 ,500 and take that job from them and it will not affect my company at all. It will not affect me at all. Now, I wouldn't want to do too many like that, but I can do quite a few if I want to. See, there's a difference between if I want to lower the price versus I thinking I have to lower the price to get a job to pay my bills or I have to lower the price to get this sale. No, you don't. You might have to lower the price to pay some bills to think you can get a sale, but to just lower a price to get the sale, you're thinking wrong. Okay. A clear vision will keep you focused on what works, allowing you the freedom to reject or trim anything that doesn't contribute towards your business strategy. So, if it's not in your business strategy, you don't have to do it.