Reflections on Entrepreneurship Part 3: Vision

Entrepreneurship and Vision
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​Continue on towards what?  Towards one’s goals? W. Edwards Deming taught something to the effect that goal setting in business and then working to achieve those goals is like trying to drive your car while looking through the rear view mirror.  I believe what Deming is trying to get people to see is that the world is changing so rapidly that attempting to persevere through the adversities of any business environment is like trying to hit an ever moving target which is constantly redefining itself.  If you don’t think the world is changing so fast that goal setting in the traditional sense is lacking in intuitive necessity, just look at the intraday and interday action of the stock market.

Deming’s Model:
~ Plan
~ Do
~ Check
~ Act
~ Adjust

Deming’s model of Plan-Do-Check-Act-Adjust is a much more reasonable and reality based method by which to proceed in business.  I would say it this way. Every entrepreneur should have a business plan which is in effect a vision. It should be a stable and reasonable vision, yet a vision which is constantly evolving.  What Deming is saying is after you have planned, then do that which you have planned and then check it and take responsible actions according to observable data and so make whatever adjustments are necessary.