Set a Proper Vision

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To succeed in business, you'll need the leadership principle of having clarity in where you're going. You'll constantly go to and fro without a destination -- always wondering if you're headed in the right direction.

Find Purpose and Values

To get a proper vision, first understand your company's purpose and values. This will be part of the framework that will guide your decisions. Your company must be passionate about the purpose and values.

Understand Where You Shine

Next, your company must understand where you can be the best in the world. Importantly, this must come from clear understanding of where you can be the best.

Discover Economic Engine

Next, as Jim Collins points out, you must have a simple economic engine model in the form of profit/x. What "x" makes the most sense to you? For example, if you're a company like Apple that builds customer loyalty by developing lifestyle products, your economic engine would be profit/customer.

Know Your Big Goal

Importantly, you must also find what Collins calls a "BHAG" (i.e. a big, hairy, audacious goal). A BHAG must inspire your company to reach it, and like the above concepts, it must come from understanding instead of bravado. Good leadership principle starts with finding the intersection between all of these concepts in everything you do. This will be the framework for where all your decisions must be made.

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Posted on February 21

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