How to write a vision statement for your business?
We must have often heard one question: Where do you see yourself in the next 5 years?
And the answer to this question is our very own vision statement. That’s the same for your company’s vision statement-
A statement that defines your goals and ambition is your vision statement.
Theoretically put, a vision statement communicates the current and future objectives of an organization. It is a guide that helps the organization to take steps that align with its mission.
A vision statement is not only used in business, as nonprofits and government offices also use them to set goals. Most importantly, the vision statements come with a timeframe.
Why do we need a vision statement?
There are many reasons why you need a clear vision statement. Some of them are:
- To direct a company’s growth and stability.
- To know the company’s current position, requirements, and resources.
- To motivate the board, associates, and employees.
- To make a brand statement.
- To receive investment and team support.
A lot of times, you highlight your vision statement on your website and business collaterals. Moreover, you also need to put your vision statement in your business plan
The fun fact about the vision statement is that it is easier to ask about it. Hence, we all fumble in answering it.
Does that mean we are not clear enough with respect to our company’s vision?
Well, not really. Some of us just can not put that vision into words. And that’s completely fine
You can learn to write an absolute vision statement for your company. And that’s what this article is about.
Steps to writing an absolute vision statement
1. Stay in touch with your mission
A vision statement is nothing but a mission statement divided into many small strategic parts. So, when you know about your mission, the vision starts getting clearer. For example, if your mission is to go to New York City, then how you set out for it becomes your vision.
Simply put, If [WHAT] you want to achieve is your mission, then [HOW] becomes your vision.
To make the vision statement even precise, also answer the [WHY].
2. Analyse your past goals
Analyze your growth in past years. See what all have you achieved with respect to product/service updates, target audience, brand value, revenue, team size, and more.
At the same time, note the places where you have lagged behind. Be open-minded to point out your mistakes in order to do better. Be generous enough to give your company the right credits.
If you know where you stand, figuring out the way further becomes simpler. Here, don’t forget to mark your time frame. Along with this, we suggest you review the current trends in your relevant industry too.
3. Notes down new goals
Now comes the most important part: Setting your vision. Here, you have to believe in yourself and your team to set the bar higher. This will help you expand your horizons and inspire you to do better than before.
Here, don’t forget to add an accurate time frame. To mark the accurate time frame, determine how big are your goals and what resources you have.
With the right time frame, your vision will become more strategic and more concrete.
Stay in line with industry standards and current trends to set the best vision for yourself.
4. Write the vision statement
The tips of writing the most profound are the same old classic- Add no jargon, use simple vocabulary, and shorter sentences. But most importantly, write it in a way that communicates your idea. Along with that, it must resonate with your team as well as your audience too.
- Be concise in writing your vision statement
- Add proper time frames
- Add buffers in your goals
- Always consult your team to come up with the most relevant vision statement
- Note down your mission statement.
- Figure out why that is your mission.
- Write down the possible ways to accomplish the mission to find out your vision.
- Derive your vision.
- Also, note why that is your vision.
- Write down the vision statement with the right words, sentences, and emotional quotient.
- Make sure that the statement is short, simple, and easy to remember.
Frequently Asked Questions
1 Where can we get templates for the vision statement?
We have tried our best to make this blog as practical as possible. So, you can follow each step well to get the absolute vision statement for your business. However, we always want to make all the business planning process easier and faster for you. Hence we have created a few business plan templates that you can follow.
2 Who decides the vision statement?
Usually, your vision statements are decided by co-founders, CEO, CFO, CSO, CMO, and other company leaders. They have a bird-view image of the company, the industry, the competitors, and so on. Hence, they are the best people to come up with a vision statement.
3 Can we have different vision statements for different purposes?
Absolutely Yes. You can always differentiate the main vision statement into smaller parts with respect to teams and time frames. However, it is really important to have a unified vision statement and stay aligned with it.
4 Is it possible to not have a vision statement?
Usually, every company has a mission that they want to accomplish. So, it is natural they have a vision statement. But it is always up to the company leaders to publish the statement or not. Or how to use a vision statement.
5 Is it possible to have a concrete vision statement?
It is important to have a concrete vision statement. However, we figure that you are asking if it is possible to have a single vision statement forever. Well, yes. It is possible. As long as your vision is aligned with your mission, it is okay to keep serving the single vision.
6 What is the difference between a vision and a mission statement?
This has been one of the most asked questions so far. And it is obvious to get confused. So, let us make it easier for you:
Your mission is the kind of impact and change you want to bring. Whereas your vision is how are you going to accomplish that mission.
For example, if you want to make sales of $100,000 in 6 months.
Then this becomes your mission statement.
Now how you plan to achieve it, becomes your vision statement.
Here’s an interesting thing you can do.
Firstly, derive your mission statement.
Then, accordingly, come up with your vision statement.
Now, take that vision statement as your mission statement and derive it into small vision statements.
This way, you will get a clear path to accomplish your ultimate mission through your vision.