Entrepreneur, Tamara Mellon, recently discussed her rise from the ashes following failure and filing for bankruptcy in 2016 on CBS. The former co-founder of the wildly successful shoe line, Jimmy Choo, spoke candidly about the cause of her defeat.
Mellon explained her vision was right, but the execution was wrong. She learned from her mistakes and started over...very successfully, I might add.
Mellon's "right vision — wrong execution" plagues many entrepreneurs. Equally troublesome is a wrong vision or cloudy vision or no vision.
It's challenging — at best — to craft a strategic plan based on the right vision. A plan based on a blurred or confused vision is unachievable (and scads of hard work).
What about your business vision?
Is it the right vision for you? Is it unambiguous? Do you believe in it enough to start over, if needed? If not, it's worth a reboot. Consider 10 Questions Entrepreneurs Can Ask to Focus Their Vision.
Failure is seldom final or fatal with a vision to believe in...