Creating Your Business Plan –Why You Need a Strong Vision Statement?

Why do you want to be in self-storage? You can’t just say that you are here to make money. There are a lot of ways to make money. You need to really think about why you decided that you want to invest in self-storage. Why are you doing this, what makes it appeal to you? Is it because you want to help people who have gotten in over the heads? Is it because you love the idea of the business? Do you already have a few properties and so you already know that you love this business? Are you doing this to improve the neighborhoods or provide a service for people who need storage? Are you doing this for passive income? What is your why?

Think about businesses that you like. What is their mission statement? Does that statement resonate with you? What portions of their business statement can you modify to fit your mission statement? The reason that you want a strong mission statement is so that you can always hire people with the same goals and beliefs that you have about self-storage. If your goal is to help people while you make money and you hire someone who just wants to be there for the paycheck. You may not get the type of customer service that you want.

Once you have your mission statement now you need to work on your vision board. Start by imagining what your company is going to look like in 10 years. This is where things are running themselves. You have the passive income. You have multiple properties and multiple managers. How many properties is that? This is when you have people coming to you asking to invest with you. How are you going to invest with them? You have banking relationships and capital to invest into properties. Where are you investing and how are you finding those properties? Things are good. Now that you are in that headspace, what are you doing? Why are you doing it? How are you achieving those goals? Don’t forget that you have multiple aspects of your life. You want to plan this out for your business and your personal life. You need to be well rounded as you grow your business.

As you think about your why and your vision statement, you have to write it down. As long as you just have these ideas in your head, they are dreams. As soon as you write them down, they become goals. You want these goals to become a reality. Be detailed. This is your business, own it make it the greatest accomplishment of your life. As always, happy investing.