You are a visionary. That’s why you’re here isn’t it? No one starts or acquires their own business without first having some sort of dream of what they want it to be. And no one is actually successful in realizing their business vision without crafting it, distilling it down to its essence.
But now that you have your vision, you need to write it down. A vision statement, simply put, explains the purpose of your business — the value your company provides to its employees, owners, customers, and community that no other business can deliver in the same way.
The vision statement stands as a focusing lens through which all decisions and actions of the company can be viewed. It’s not a superficial slogan, nor is it a hard quantitative target. Rather it’s a descriptive yet brief statement provides a clear description of the organization’s destination strategy, which all employees may then internalize and refer to to help them become immediate and continuous contributors toward reaching that destination.
For example, Nike’s vision statement is To bring inspiration and innovation to every athlete in the world; while Google’s is To provide access to the world’s information in one click.
Crafting Your Statement
In order to form your vision statement, you must first convene your team and ask several critical questions. For instance:
- What is the current and primary purpose for your business to exist in the marketplace?
- What are the special benefits your business can provide to employees, owners, shareholders, and the community?
- If you had to shutter your business, what would you want people to miss the most? (Look beyond mere products, services, profits, and jobs.)
- How do you want your company’s people, products, and services perceived as providing value to others?
- How is your selling proposition — the products or services you provide — unique?
Once you’ve gathered the answers to these questions, you can create a brief vision statement by integrating the responses with the following elements:
- Define the market climate or environment of your company. This should help explain what happened in the past, current developments, and future expectations. Describe certain key events and explain consequences.
- Explain a major pain point or opportunity that exists beyond you company’s current capacity. Why should you pursue it as a business?
- Apply this problem or opportunity to a specialized capability within the company’s current or potential reach.
- Relate how tackling this pain point or opportunity allows the company to penetrate the market.
- Describe why addressing this problem or opportunity is appropriate to serve as the company’s essential purpose.
In my years of experience helping companies with their strategic plan, I found there was always a struggle to document a vision. Often this was the longest part of the process, taking days or even weeks for a statement that everyone could agree on. Many times, there was not total agreement on a vision, so the majority would rule.
But it’s worth the work. Having a clear vision, mission, and values that are supported by critical success factors will help ensure that your company is moving in a positive direction. Allowing your employees to assist in the development process and then communicating this information after completion ensures you have an educated and involved workforce.
Along the way, remember to revisit your strategic plan with your employees on a regular basis so you can track your progress. Also, take time to celebrate your successes along the way.