Alright, let’s crack into one of the big questions about running a business: What are the major hurdles when you’re setting up your company’s vision, mission, and strategic direction? Now, from my seat at the table, where I’ve been steering the ship through calm and stormy seas, the biggest beast to wrestle down is funding—good old cash flow. You’ve heard the saying “cash is king,” right? Well, in the world of business, it’s more like “cash flow is more important than your mother.”
“It’s one thing to have an objective like flying to the moon, but you’ve got to pay for it.” John Puttick
Let me paint you a picture. Imagine you’ve got this grand plan, maybe something as bold as a moonshot. You’re all fired up, ready to go, but then there’s this little thing about needing to pay for it. That’s where the rubber meets the road. Your beautiful vision needs a solid business model to fuel it, a strategy to sustain it financially without running your tanks dry.
Here’s where the CEO really has to shine—balancing that fine line between visionary and the guy who has to make sure the lights stay on. You need a model that not only funds the journey but also includes enough wiggle room for when things don’t go exactly as planned (because, let’s face it, they rarely do).
And this isn’t just about having enough cash to push through; it’s about ensuring that your business model is robust enough to support your ambitions. It’s like planning an expedition; you’ve got to have enough supplies to reach your destination and handle whatever the wild throws at you..
Now, setting a lofty goal is fantastic, but the real trick is making sure you can fund that journey. Whether that’s through existing business operations, pulling in capital, or maybe even pivoting part of your old business to fund the new direction. It’s a complex dance of maintaining your current operations while convincing your customers that your new direction is worth their investment.
So, you see, it’s a loop. The goal defines the strategy, the strategy defines the funding, and the funding circles back to support the goal. And throughout this entire process, you’ve got to keep your customers engaged and on board. Because at the end of the day, if you can’t convince them to follow where you’re leading, all the cash flow in the world won’t save a sinking ship.
And that’s the crux of it. It’s not just about having a grand vision; it’s about having a practical plan to bring that vision to life—a plan that’s well-funded, well-supported, and well-loved by those who matter most: your customers. That’s the art and science of steering a business towards a bright future.