Retail Observer

RETAILOBSERVER.COM JULY 2020 44 A while back I watched a Stanford eCorner Entrepreneurial Thought Leaders talk by Evernote co-founder and CEO Phil Libin. In his wide-ranging and inspirational remarks, Libin challenged some of the conventional beliefs and behaviors in the start-up world, and one statement stood out for me, because it reflected something I'd seen often in the best companies and products. "There is no exit strategy at Evernote, and there never was," Libin said. "We've turned down every acquisition offer. We've structured our board and our investment so we could build a 100-year company." Evernote built their product in a way that would allow them to commit their lives to fulfilling its mission, thereby sending a clear, deeply motivating message to their people that they were at Evernote to stay. As I listened, the word that came to my mind was commitment. A VISION WITH NO EXIT The mindset of a mission without an exit spoke to me at a time when I found myself helping a company shape its own 100-year vision. (The company had been in business for 40+ years.) This approach is the antithesis of, and perhaps the antidote to the typical tech startup mentality of building a quick business to make a quick buck. (Think house flipping versus building a home.) I've now helped several companies define and articulate their 100-year visions, and in each case the owners, leaders and stakeholders took the long view by activating a plan to create ongoing value for 100 years, which also meant committing to a path of sustained excellence. When companies identify and commit to the power of a 100-year vision, it changes the company's shape, trajectory and landscape. Strategic decisions suddenly shift beyond the short-term view (e.g., quarter-over-quarter profits), to long-term decision-making that considers innovation and sustainability in all of the business's facets. The way the company treats its team and its customers shifts to a more deeply committed and intimate working style. The way it treats its innovation and product development shifts to include long-term effects and opportunities. WHY A 100-YEAR VISION IS IMPORTANT A vision activates energy. In 1961, the most optimistic odds makers would have given NASA a 50-50 chance of putting someone on the moon and getting them back. At that point NASA hadn't achieved anything remotely resembling such an ambitious goal. And JFK didn't just say, "Let's beef-up the space program." He said, "This nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to Earth." Congress promptly allocated $549 million, followed by billions more over the ensuing five years. The vision was clear. It was an activating, challenging focal point for NASA and the nation. A vision aligns people in activities that integrate the organization. A vision facilitates goal setting and planning. It helps people set their priorities. The vision says, this is what we stand for, this is where we're headed, and this is what we will and won't do along the way. Knowing where you're going and what you stand for is the only way to achieve your big goals. A vision is the embodiment of the organization's core beliefs. A vision provides a focus for assessing individual, departmental and organizational progress. Organizations with 100-year visions now include Evernote, Patagonia, H. G. Fenton, Nike, Disney and Ikea. I'm sure there are countless other companies that see the value in casting a vision beyond the lifetime of their present leaders. So here's the question: Does your company have a clear and activated vision? And, if not, what are you waiting for? For the past 25 years, Steve has served as an advisor and consultant on brand strategy, organizational life, and humanized marketing strategy. He has worked with companies such as Samsung, Habitat for Humanity, New Balance, Sony, LG, Amazon, NFL and MLB franchises and is a regular speaker for TEDx, Creative Mornings, CES, HOW Conference, Social Venture Network, American Marketing Association, and AIGA conferences. Steve has published two books, Brand Love and Loyalty and Humanizing the Customer Journey, as well as a forthcoming book, The Evolved Brand: How to Impact the World Through the Power of Your Brand. He has been featured in Business Week, Brand Week, Ad Age, Conscious Company Magazine, MarketingProfs, and HOW magazine.Steve leads his own brand and business strategic consultancy, Mth Degree. Contact: steven@theMthDegree.com, 619-234-1211 or www.theMthDegree.com RO Steven Morris On Brand THE 100-YEAR VISION UNLEASHED

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