In this episode, Mike discusses the importance of having a clear vision for a business and using a structured approach to make it usable. He draws inspiration from Jim Collins' work and emphasizes the need to start with vision before moving on to strategy and planning. Mike explains the three components of a vision: core values, purpose, and a big hairy audacious goal (BHAG). He highlights the significance of authenticity and relevance in defining these components. Mike also emphasizes the need to extract and communicate the vision to align the team and make informed decisions. Takeaways Having a clear vision is crucial for the success of a business. A vision should consist of core values, purpose, and a big hairy audacious goal (BHAG). Values should be action-oriented and accompanied by clear explanations of their meaning. Purpose should be authentic and compelling, providing a reason for being. A BHAG should be challenging and guide the long-term direction of the business. It is important to extract and communicate the vision to align the team and make informed decisions. Revisiting the vision periodically can help realign the business and address any deviations. Chapters 00:00 Introduction and Importance of Vision 03:16 Vision, Strategy, and Planning 04:14 Components of a Vision: Core Values 05:10 Components of a Vision: Purpose 10:33 Components of a Vision: Big Hairy Audacious Goal (BHAG) 18:09 Extracting and Communicating the Vision 20:04 Revisiting the Vision If you want to talk about working with me, get in touch on [email protected] or https://www.linkedin.com/in/mikeadamscott/