Executive Summary
??????????? What is success? According to Webster?s online site, it is a favorable or desirable outcome.? In most businesses, success is often measured by how big or large a company is, but Jamie Walters dare to think differently.? In her book, Big Vision, Small Business, she goes in detail about strategies for small businesses to stay small, but remain vital, healthy, and rewarding.? The objective of this book is to redefine success, no in terms of revenue and numbers, but in ways that affect and change our communities.
??????????? In today?s culture, we tend to give success a materialistic value.? ?The bigger the company?s payroll or revenues, the more it consumes, then the more successful it ? and its leaders must be.?? Many of our small business make contributions and positive changes to our neighborhoods, cities, and even our country.? According to Walters, some of the smallest businesses offer opportunities through ideas, lifestyles, innovations, and different practices, many things large corporations cannot or even will not.? She?s not necessarily saying that one, small or large, is better than the other, but there are different strokes for different folks and for her small is better. She believes big vision small businesses have four ?keys? to being successful.
The first key is about engaging in inspired visioning and planning.? This key outlines the twelve priorities of big vision, small business.? It also answers questions like ?How do you, as a business owner, want others to experience your enterprise?? and ?How does your business affect your community??
??????????? The second key helps a business owner determine which definition of growth suits them.? They should decide what to expand, and when to expand; this is solely their decision.? But when deciding, they should be very careful, aware, and considerate of their vision, mission, and external environment.? Disadvantages as well as advantages should be a major toll also.
??????????? Building and maintaining right relationships is the third key which includes the ?golden rules? for right relationships.? Relationships, no matter whom it may be with require commitment and strong communication skills.? Developing right, healthy relationships helps a company in becoming successful in the long term.
Lastly, but not least, the forth key explains why wisdom and balance are two major components of a big vision small business.? It also advises small business owners to use history, their spiritual or philosophical beliefs, common senses, and knowledge of competition, their money, and risk of failure.
In conclusion, Walters believe big is not always better and success should not have a price tag attached to it, but should be measured by the way you affect people?s lives. Success should flow from passion and effort, and how well one accomplishes the big vision; keeping the vision in mind every step of the way.
Full Summary of Big Vision, Small Business
In today?s culture, we tend to give success a materialistic value.? ?The bigger the company?s payroll or revenues, the more it consumes, then the more successful it ? and its leaders must be.?? Many of our small business make contributions and positive changes to our neighborhoods, cities, and even our country.? According to Walters, some of the smallest businesses offer opportunities through ideas, lifestyles, innovations, and different practices, many things large corporations cannot or even will not.? She?s not necessarily saying that one, small or large, is better than the other, but there are different strokes for different folks and for her small is better. She believes in big vision, small business.
What is a big vision, small business?? According to Walters, BIG VISION is a primer for small enterprise owners to create an ethical, visionary enterprise that is consistent with their values and lifestyle priorities.?? Having a BIG VISION encourages small business owners to build a business with meaning, not just for profit or a quick dollar.? The BIG VISION is a mixture of values, ethics, and philosophical and spiritual beliefs.? It states the business mission for being, and bridges personal life with public lifestyle.? Having a BIG VISION is and should be the foundation of small businesses.
Walter interviews with many small business owners gave her the conclusion that there are twelve priorities of the big vision small business.? They are:
Mutual benefit?Big vision small business owner?s prerogative is to ensure that they and those they do business with benefit rather than having a ?zero sum approach.?
Right livelihood?in small business big vision, right livelihood refers to our desire to do meaningful work, conducted in a mindful way that contributes positively to the community, or at least does no harm.
Right Relationships?Relationships to big vision small business owners are no for ?image- boosting.?? Some ensure this by committing to provide benefits to employees, forming healthy relationships with customers, or by making their place of business family friendly.
Giving back to the community?Big vision small business owners choose local causes or charitable organizations to help out and make a difference in the world.
Aspiring toward high ethical ground?ethics and integrity are extremely important with BVSM owners, whether it ?means admitting a mistake,.. paying your taxes and other bills on time, or turning away business for which you?re not optimally suited??
Creating a respectful work environment?BVSB owners provide respectful environments for both employees and customers by providing benefits, flexible schedules, family friendly policies, and many other things to show that they care.
Viewing a healthy bottom line as a means rather that the end??This might mean that a visionary owner works mindfully to find a healthy balance between service and revenue generation.?? A business owner must be passionate about their business, but handle their finances correctly.
Fostering health and wellness?Some business owners may feel that helping people get and stay healthy is their goal and main purpose for their business.
Promoting awareness and self- responsibility?Many small business owners offer information to raise awareness and often go above ?and ? beyond the operating necessities of their business.
Fostering a different way of working?This means simply being different, not typical.? Many big vision small business owners strive to have a competitive advantage in what they do.
Putting forth a higher level of quality?Offering the highest quality work regardless of the client?s revenue category should be every small business owner?s goal.? They should remember that their work is still a reflection of them.
Connecting one?s business and spiritual philosophies??Unifying work with one?s spiritual or religious life is the ideal goal to be achieved.?? Being a small business makes it easier for one to apply wisdom gained from contemplative life to the everyday use.
After reviewing her twelve priorities, Walters came to the conclusion that there are four key issues- vision, growth, relationships, and wisdom.? These four key issues inspire big vision small business owners to ?keep focus as they manage, and sometimes struggle with, day- to- day realities of running a vision-inspired business in today?s fast paced, mega- competitive, hyper-materialistic world.
Key #1: To Live Large, You Have to Vision Big
????? In big vision, small businesses, one must have a clear concept that guides their company.? Having a BIG VISION takes a great deal of visioning and planning.? A clear vision and allied action plan holds a key place with small business ownership.? The vision and plan should be personalized and helps the business to evolve.? ?There needs to be a hunger, a fire inside which fuels your passion to achieve an important goal, regardless of your ability level.?? Walters elaborates that having a strong vision or purpose and encouraging employees to achieve that mission can lead small businesses to a high level of performance.
????? How does vision differ from mission and core values? ?Vision, mission, and core values are often interchanged incorrectly and misused.? Big vision, small business owners should start the visioning process by knowing the difference between these words.
????? Walter explains that a vision is the ?act or power of anticipating that which will or any come to be.? In many businesses, the vision is put together with no real intention to transform or grow.? A vision should be vivid and imaginative, something to hope for, and be inspired, excluding limitation and expectations of others.
????? A mission answers questions likes ?what are we doing to make our vision possible?? and ?what should our day to day work be??? Whatever our vision may be, our mission is the path to that vision.
Core values are referred to as the values we hold which form the foundation on which we perform work and conduct ourselves.? Figuring out these values is the code of belief that allows one to begin working on their mission and visions.?
A company?s vision, mission, and core values unite to form the big picture of what a company wants to be.? This visioning process serves an important purpose: to help, get a clear vision on what it is exactly that is being done, and why one chooses to spend quality time doing it.? This process should also reflect many experiences from their personal life, conversations with other people, brainstorming, feedback from other business owners, and follow ups.
Walters states that many small business owners do not spend a superior amount of time planning.? After interviewing many small business owners, the two beliefs for opting planning are the beliefs that planning blocks opportunity, creativity, and intuitive approach of managing a business and the inability to find the time, due to being busy and the process is too overwhelming.? Many business owners enjoy having freedom and feel that a formal process is wasting their time which can be spent doing other things for the company.
Key #2: There?s more than one way to define growth
??????????? The American obsession with materialistic measurement of growth creates many challenges for small business owners.? Big vision small business owners consider that there are more ways to grow besides increasing revenue or profit. They should decide what path is most consistent with their vision and mission and proceed from there. A business owner should consider the external pressures, revenues, production capacities, and location and understand the advantages and disadvantages of both small and large organizations.
Once a company decides on size, there should be a choice between letting the business languish and excitedly pursuing numerical growth.?? At one point it might be a good idea to expand then later it might be better to decrease size.? The choice is ultimately up to the business owner and should reflect one?s vision: what is important, motivating to employees, different, and the relationship between the size of the business and its products.?
Key #3: While Who You Know is Important, It?s How You Treat Them That Counts
??????????? Relationships are very important when owning a business and a focus to the business and vision.? Relationships, whether it?s with customers, employees, vendors, or even other business owners, require skillful communication and commitment to service and personal development.? Developing strong relationships and maintaining them can have an effect on business, referrals, personal and spiritual growth.
??????????? What are the right relationships?? Many people use their everyday life: religions, life philosophies, spiritual journeys, and past experiences. Walters explain the golden rules for right relationships.? These seven golden rules, if followed, can improve relationships with others as well as with self.
Know thyself: It is important for business owners to know themselves before considering learning the personalities of others.? One should examine their life and the way they deal with things first.
Know the Importance of Framing and Listening: Listening, deep listening, and less interference is a key to communication.? One?s interactions may increase when combining framing with deep listening.
Be Aware of Assumptions, Judgments and Filters: These things inform how people view and react to not only situations, but people also.? Business owners should check their own views with feedback from employees.
Ensure Common Understanding and Expectations: Achieving understanding and asking questions should be done for a matched understanding.? Also, knowing what each party wants and expect will dismiss any confusion.
Be Watchful of Over-Familiarity: It?s common for business owners to get too comfortable in many relationships causing a lack in professionalism and sloppiness.? One should remember to leave things on a level of profession and let business be business, not personal.
Foster a Sense of Service and Generosity of Spirit: Having a desire to help others and give should be demonstrated as a daily performance.
Be Calm and Centered:? Business owners should have wisdom and faith about not only their business, but their surroundings also.
Key #4: If You Want to Live From the Source, Can?t Let the Well Run Dry
??????????? Knowledge is a very essential element in being a big vision, small business owner?s ability to skillfully visualize and put into practice their business and overcome challenges.? Business owners should use history, their spiritual or philosophical beliefs, common senses, and knowledge of competition, their money, and risk of failure.Being aware and having wisdom about the business and everything that affects it should be a priority for big vision small business owners.
??????????? In conclusion, Walters believe big is not always better and success should not have a price tag attached to it, but should be measured by the way you affect people?s lives.? Success should flow from passion and effort, and how well one accomplishes the big vision; keeping the vision in mind every step of the way.
Ten things managers need to know from Big Vision, Small Business
a big business small business is a foundation for small enterprise owners to create and ethical visionary company that is consistent with values and lifestyles.
Net Zero should never be a goal.
Forming relationships benefits a company.
An ideal goal should be to connect one?s spiritual life and business philosophies.
There is a difference between a vision and a mission.? A vision is where one wants to be and a mission explains how to get there.
The visioning process takes a great deal of time and should not be taken lightly
Before forming relationships, know yourself and what is important to you
Asking questions helps achieving understanding.
Business owners should be aware of their surroundings and know where they stand
Big isn?t always so big. It?s ok to be small sometimes.
Personal insights
??????????? With the business conditions today, I think Walters? beliefs about small businesses are true.? Today, we, as a country, feel that a business that has a bigger profit is more important to our economy.? From her observations, small business employs a great percent of Americans.? Who?s to say just because a company is lager that it is more successful?
??????????? Three things if I was Walters, I would have done differently: I would elaborate more on the key #2: growth.? I would introduce my 4 keys earlier in the book because the book starts boringly and it is hard to stay focus.? I also would have concluded the book because the book ends suddenly.
??????????? Reading this book makes me think differently about the topic in these ways: I have thought about actually becoming a small business owner.? I use to believe in the myth ?bigger is better.?? I also think differently about bridging spiritual beliefs with business.? I use to think that those two should always be separate, but this book has changed my views.? Lastly I think differently about relationships between a business owner and its employees.? It?s ok to get close to them, as long as everyone knows the difference between business and personal.
??????????? Ill apply what I?ve learned in this book in my career by improving my relationships with people around me, not making assumptions about things that I have not researched (small businesses), and keeping the ?4 keys? in mind when I become a small business owner.
??????????? Here is a sampling of what others have said about the book and its author:
?5 Stars! Outstanding?absolutely my favorite book on entrepreneurship. I still frequently refer to it for inspiration. The page edges are worn (something I can?t say about any other business books on my shelf)!? says About.com.? this is a well-organized road map for a successful small business. This book will change your perspective,? says Maine Midcoast Reviewl.
Bibliography
http://entrepreneurs.about.com/cs/lifebalance/fr/bigvizsmallbis.htm
http://www.ivysea.com/pages/BVSB.html
http://shvoong.com/books/477644-big-vision-small-business-keys/
http://www.smallbusiessnotes.com/operating/leadership/walter.html
Walters, Jamie S. (2001) Big Vision Small Businesses. San Francisco, CA: Ivy Seas Publishing.
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To contact the author of this book summary and review, please email Jameshia.Nichols@selu.edu.
Biography
David C. Wyld (dwyld.kwu@gmail.com) is the Robert Maurin Professor of Management at Southeastern Louisiana University in Hammond, Louisiana. He is a management consultant, researcher/writer, and executive educator. His blog, Wyld About Business, can be viewed at http://wyld-business.blogspot.com/. He also serves as the Director of the Reverse Auction Research Center (http://reverseauctionresearch.blogspot.com/), a hub of research and news in the expanding world of competitive bidding. Dr. Wyld also maintains compilations of works he has helped his students to turn into editorially-reviewed publications at the following sites:
Management Concepts (http://toptenmanagement.blogspot.com/)
Book Reviews (http://wyld-about-books.blogspot.com/) and
Travel and International Foods (http://wyld-about-food.blogspot.com/).????????????????
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