Have you ever asked a child what they want to be when they grow up?

A pilot, an athlete, or a firefighter? Maybe they want to be an astronaut. If so, they’ll need perfect sight, good health, a university degree in the natural sciences, plenty of years of experience as a pilot, and be small enough to fit inside a space capsule! A clear and well-defined list that sets out the prerequisites to embark on the path to their dreams – their vision.

Does your company have the same level of vision? Do you know the next steps your company needs to take to reach its goals?

As a developing company, you probably have a list of requirements that you believe are needed to help you ‘make it’ in your market. You may have a research plan and a product development strategy. You have also, no doubt, thought about how best to bring your product to market.

Are you looking to sell off an idea, a prototype or a final product. Or, will you manufacture the product yourself, or maybe involve an outsourcing strategy as demand increases? How will you finance all these efforts, and what will your role be during the journey from idea to successful product on a global market?

Whatever the answers are to these and many similar questions, the important point is that they should be reflected in the day-to-day decisions of your team. Your team needs to be aware of the organization’s goals, both short term and long term.

In the most successful organizations every team member is fully aware of the company’s vision, and its strategy to get there. All leaders in the organization know how to break down this long-term vision into short-term milestones, and all team members know how they can contribute. Frequently asking the question, “Will this bring us closer to our vision?” can act as a powerful guide for any questions or decisions to be made.

So, think again, has your company fulfilled all prerequisites to achieve its vision? And is your team fully prepared to take the next step?

Because, just as on the path to becoming an astronaut, a lot of hard work is ahead of you.

Raf Lemmens
Raf LemmensSenior Business Consultant
Tel. +46 (0)8 50 30 45 66

Contact me or read more about our 3Ex Management Services (Strategic management support for life science companies in transition.)