Why Does A Startup Founder’s Vision Matter?
Most of the great companies that we see nowadays have a very firm vision statement that their founders had written decades ago. These vision statements are the foundation pillars for every move that the organization has made over the years to get to where it’s at. Thus, as a startup founder, your vision matters more than you must’ve calculated. Here are a few reasons why a startup founder’s vision statement is important:
1. Helps you recruit the right people
Regardless the stage your startup is at, hiring the right people is always preferred. Once you have a clear vision statement in place, you can easily navigate tedious recruitment processes to find the candidates that fit right into your organization. You’ll be able to gauge during the interview itself whether they align with you and your startup’s vision, mission, and goals. The values that percolate down to the employees in any organization are a result of a well-defined vision statement. You can decide whether a candidate is the right fit or not, and easily move on to the next without having to spend too much time deliberating.
2. It Holds The Organization Together
A vision statement is what drives you and your employees to push and succeed. It is the reason your startup exists. Thus, when you as a startup owner have a strong vision, you can easily motivate your employees to perform at their maximum potential. It brings the organization closer, and generates team spirit.
3. It is appealing to your investors
When you try to raise a round of funding, it is crucial to have a good pitch ready. Apart from that, a potential investor is going to also look at the kind of vision you and your startup have. A power-packed, hard-hitting statement gives any potential investor the assurance that you, as the startup founder, will keep working till you have achieved that vision. It also shows them the kind of offering you bring to the table- the need you will be servicing in the market. It is a matter of showing them what you are made of, so that they not only invest in your startup, but they also invest in you. Angel investors will always keenly study every word you place in front of them, and thus it is your responsibility to give them the right words.
4. It communicates with the world
Your vision is also seen in how you communicate with the world. The kind of vision you have will percolate through all the communication channels that you employ for your startup. Your vision is what convinces your audience to give you, your products products/services a shot. It allows your potential customers, suppliers, and shareholders take a call on whether to be associated with your startup or not. The clarity of your purpose and the reason for the existence of your startup show through your vision statement to all potential communicators. Thus a vision statement is important not only to show the potential that you and your startup have, but also for your employees.
We, at LFS have a fixed vision statement and are constantly working towards it. It is our motivator, and we are always working in alignment with it. We understand how important a startup founder’s vision can be for the success, and prosperity of the venture. Hence, we have written this piece to help you achieve your maximum potential.
About Devansh Lakhani
Director of Lakhani Financial Services, and a Chartered Accountant, he helps start-ups raise funds from his network of investors. He guides and advises start-ups to scale up by providing efficient sales, marketing, team building, and business management strategies. He has executed fundraising by block deals on the stock exchange and conducted IPOs and right issues on the SME platform to the tune of over Rs. 50 Crore. He is currently working with start-ups from various sectors to help them channelize their business models and investments.