Creating a Company Vision to Drive Progress
Part one of a two-part series on Airfox’s company vision and recursive product strategy
This is the first half of a series on creating the Company Vision for Airfox. In this first post, I share my inspiration for the guiding principles of creating our company vision.
We at Airfox define our quality not only on what goals we set for ourselves but on how we progress forward to meet them. We do not drag our feet while we assess the challenges ahead of us. We do not ponder about the multiple risks we’re faced with, nor do we dwell on the dreaded “what if” scenarios all humans privately grapple with when we encounter something new. We, as a team, go above and beyond the goals we set; we shoot past them and become something more.
We are driven by our Company Vision.
What is the definition of a Company Vision? For engineers or skeptics, it may sound like an abstract concept or a buzzword used in management circles or at business schools. I believe it’s the core ideology of a company, the motivating force behind those who believe in it. A well-defined and realistic company vision can become a compass that propels the business to great successes. It’s the lighthouse guiding the weary ship back to port, reminding everyone aboard it where they came from and where they’re headed.
Obviously, a company’s vision is not enough. A company requires a stellar team, a quality product, a large market to operate in, capital funding, and great execution; these serve as essential ingredients to develop a company’s foundation. This foundation transforms the company into a world-class contender.
These ingredients require a focus, as they may not be enough for a company to rise above mediocrity into greatness. Elon Musk pointed out that entrepreneurship is, “like chewing glass and staring into the abyss”; the journey is filled with pain and darkness. Your company’s vision is both your painkiller and your ever-watchful lighthouse guiding you through the fog. You require it to not only survive, but to thrive, amongst the enormous challenges, and to welcome new opportunities you find throughout your journey.
Vinny Lingham wrote a great post on how to clearly define a product vision that motivates and guides a start-up in his First Round Review Article “The Recursive Product Strategy That Musk Used To Build An Empire”.
In a similar vein, twelve years ago Elon Musk posted The “Secret” Tesla Motors Master Plan that created a succinct and yet cohesive linear strategy to achieving his company’s goals:
1. Build sports car
2. Use that money to build an affordable car
3. Use that money to build an even more affordable car
4. While doing above, also provide zero emission electric power generation options
When it was announced Elon Musk desired to acquire SolarCity, it should not have surprised anyone, given his ambitious goals. Despite Tesla delays and short-term unprofitability, it is almost scary how precise Elon predicted the future vision for his company. He did so with near flawlessly execution, despite the 2008 recession, the lack of funding and the near-death moments that Tesla faced. This is the power of a succinct, clear and achievable vision that was constructed with purpose and had a clear path to completion.
I recommend founders take weeks to build their own recursive product vision strategy in order to create the map that will direct them for years to come. Think about it as a way to reverse engineer to your desired outcome in a predictable and step-by-step formula, while providing high-level guidance on your day-to-day.
But practically what is Company Vision and what does it do?
Company Vision is a:
• Framework for Strategy
• Guide for Individual Behavior
• Source of Inspiration
• Basis for Culture
• Compass for Guidance
• Glue that Holds the Company Together
• Source of Identity
• Motivator for Action
In this note, I will share with you the Airfox and the AirToken Vision and Recursive Product Strategy for the next three years in the second half of this article in a few days. Please stay tuned. For more info, visit Airfox.com
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