how to create a vision statement for your business
The Vision Statement for your business is your destination, your ultimate goal, your purpose. Without one, how do you know where you are going? Or if you’re on the right track. How do your employees know what role they play in the big picture? How do your clients and prospects know what differentiates you from your competitors?
Creating a Vision Statement is an important building-block for a successful business, whether large or small and whatever the industry. Yet it’s often regarded as an academic exercise, something you create just to tick a box and then file-away never to see the light of day again.
The time you spend on it is an investment in the future of your business. A well thought-through Vision Statement has many benefits: it will drive your goals and strategy, it helps to create company culture, it provides a shared purpose for your employees and will excite and motivate your team. During times of adversity, a clear vision will unite your team and keep them focused on a bigger goal.
What often holds people back from creating a vision is not knowing where to start. In this blog post, I’ll share eight points that I always recommend leaders consider when creating their business vision.
Be clear about your real ‘output’
Your Vision Statement shouldn’t be a description of the ‘nuts and bolts’ of your business but it should reflect the difference you make to people through the products or services you provide. For example, Disney is an entertainment business, but their vision is “To make people happy”. So, rather than think about the ‘input’ of your business (installing electrics, providing legal advice, manufacturing furniture, selling products online etc) think about the people-related outcomes of what you do.
Make it aspirational
The vision should be an aspiration that should excite and motivate you and your entire team to work towards turning it into a reality. In fact, if it’s not a little scary, it’s probably not aspirational enough. And it doesn’t have to measurable in the way a business goal is. When Steve Jobs said he wanted Apple to “put a ding in the universe” he wasn’t thinking about a specific, measurable activity but rather about making a bigger contribution to the world.
Be concise and relatable
A Vision Statement should ideally be one sentence, but no more than two sentences long. It should be concise and memorable. Famously, the UK Government Nuclear Industrial Vision Statement runs to 57 pages. If your Vision Statement requires its own Executive Summary and Contents page, it’s probably too long. Use descriptive, evocative words so that the reader can visualise your purpose.
Forget the jargon associated with your industry and avoid corporate-speak. Use everyday language that can be easily understood and that everyone can relate to, whether they know what your company does or not.
Involve your team
Many organisations treat the creation of a business vision as a management exercise. Only senior people are involved in the process and, once complete, the vision is broadcast to the rest of the company. Unfortunately, what they’ve just created is the management’s vision, not the company vision. In order that all your employees can relate to and share the vision, involve them in the process. People want to do meaningful work, so ask your employees what’s important to them. Your employees will feel valued and will more likely take ‘ownership’ of the vision if they participated in its creation.
Reflect your values
A well-crafted vision statement has the power to set and drive the culture of your business so think about how it can reflect your values and what you stand for. Tesla’s vision is to “Accelerate the advent of sustainable transport by bringing mass-market electric cars to market as soon as possible.” It clearly reflects the company’s focus on sustainability, serving the mass-market and fast innovation, features that are built into its culture, and which help to set Tesla apart from others in the industry.
Communicate it and live by it
Communicate your vision effectively throughout your organisation, often. Discuss it with your employees so they understand it, appreciate its importance and can see what part they play in its pursuit. Use it in the hiring process to excite and motivate candidates hoping to join you and to qualify-in candidates that share the values reflected in your vision. Above all, allow your vision to set the tone in your organisation. Ensure that everything you do is in pursuit of your vision and role-model the values reflected in it through your behaviour.
Remember external sharing
Your vision statement should be appropriate and relevant for an external audience as well as for your internal audience. Sharing your vision with your prospective and existing clients, and with your partners and suppliers, will help them connect with you and build better, closer relationships with your business. Discuss it with people outside of your organisation, share it in presentations, make it visible on your website, social media and other forms of marketing.
Revisit and revise it
The vision you design now doesn’t have to be your vision in 10 years from now, or even in 5 years’ time. Circumstances change, the business landscape will almost certainly be different and new opportunities may present themselves over time. Whilst it’s not advisable to change it every year, revisiting and, if necessary, revising your vision statement every few years is healthy, normal and will keep you relevant.
Creating a vision statement needn’t be a painful and time-consuming exercise. Taking these points into consideration will direct your thoughts and help you create a vision that has a positive and lasting impact on you, your employees and your business. If you’d like help in creating a vision statement for your business or advice on how it can be used, contact me here.