Every business owner knows that they need to write and maintain a mission statement for their business. This is an essential piece of a business’s strategic management plan. The mission statement is the business’s purpose and the target of their day to day operations. But, even more than a mission statement, a vision statement is integral to the long-term success of your business and the strategic plan you have in place.
What is a Vision Statement?
A vision statement focuses on the goals of what the company wants to become. It is imperative to have a vision statement written hand-in-hand with your mission statement. This statement gives your company an overall direction as it moves into the future. A vision statement is a part of a successful strategic plan. While a mission statement focuses on the clientele of a business, a vision statement is written for the employees.
Why is it Important?
Vision statements not only provide a written document of what you are hoping for your business to become but also can serve as a guiding light for your company as a whole. It not only gives the executives of a company the direction but it also gives it to the employees themselves. Employees who believe in the vision statement of the company are more likely to be engaged in their work on a daily basis and embody those values.
What Should it Look Like?
Your vision statement should be a short, concise account of the hopes, dreams, and aspirations of the company. It should focus on things that you believe that your employees can hope to fulfill on a daily basis. This statement should promote growth within your company and be a lofty goal for the entire business to strive towards. It is important that your vision statement is only a few sentences and easy to repeat. Additionally, your vision statement should epitomize a goal or outcome that has never happened in your industry before.
Should You Have One?
The short answer is – absolutely! Vision statements are powerful phrases that help to drive your business towards further growth. It is an essential document for your employees to believe in and is the crux of a successful, purpose-driven company. Your vision statement will be a living document that will adapt over time, as your goals and the company change.