• A carefully crafted vision statement can help you communicate your company's goals to employees and management in a single sentence or a few concise paragraphs. While a well-thought-out statement may take a few days or weeks to craft, the result will be a tool that helps inspire strategic decision making and product development for your business for years to come.

  Why is this important if your company is already successful? According to a recent study that appeared in the Harvard Business Review, up to 70 percent of employees do not understand their company's strategy. Failure to understand your company's position can lead to poor decision making at all levels of an organization. For that reason, the first step toward crafting a vision statement is to take a careful look at where you are as a company, your place in the industry and your realistic goals for the intermediate and long term.

  Vision statements are aspirational; they lay out the most important primary goals for a company. Unlike business plans, vision statements generally don't outline a plan to achieve those goals. But by outlining the key objectives for a company, they enable the company's employees to develop business strategies to achieve the stated goals. With a single unifying vision statement, employees are all on the same page and can be more productive.

  Linsi Brownson, founder and creative director of business strategy group Spark Collaborative, said a vision statement is an opportunity to revisit what first fueled your interest in starting or owning the business. "The best way to begin is to reflect on some of the most significant events or ideas that have impacted the company so far," Brownson said. "It often dates back to the owner's childhood interests or experiences that ignited a passion, which ultimately led to the creation of the company."

  So, what should a vision statement contain? "A high-quality and inspiring vision statement for a small business should have two key characteristics: It needs to state where the company wants to be in the near future, and it also must have a level of excitement and motivation to it," said Andrew Schrage, founder and CEO of financial consulting firm Money Crashers. "Use your company-culture description for more details on the goals and direction of your business."

  Vision statement vs. mission statement

  A vision statement should not be confused with a mission statement. Mission statements are present-based statements designed to convey a sense of why the company exists to both members of the company and the external community. Vision statements are future-based and are meant to inspire and give direction to the employees of the company, rather than to customers. A mission statement answers the question, "Why does my business exist?" while a vision statement answers the question, "Where do I see my business going?"
  
  "I view a 'business vision' as a combination of both aspirational and tangible goals," Brownson said. "A mission statement is intended to clarify the 'what' and 'who' of a company, but a vision statement adds the 'why' and 'how' as well."
  
  As a company grows, its objectives and goals may change. Therefore, vision statements should be revised as needed to reflect the changing business culture as goals are met. However, when you're writing the vision statement, you should approach it as a document that will last at least several years, said Tiffany Silverberg, a professional writer and editor for businesses.
  
  Silverberg noted that a vision statement should go beyond profit margins and internal benefits and look toward the long-term effect they want to have on their customer base, their industry, the economy and/or the environment.
  
  How to write a vision statement

  Writing your vision statement is a time for creativity, ambition and fun, but the task should be approached seriously. "There is a process to this, and it's not usually quick or simple," Brownson said. "The best way to begin is to reflect on some of the most significant events or ideas that have impacted the company. It often dates back to the owner's childhood interests or experiences that ignited a passion, which ultimately led to the creation of the company."
  
  To get started, dream big and make a list. Don't worry about practicality for now — what initially looks impossible could be achieved down the road with the right team and technologies. Brainstorm with a group of employees to visualize where you may see yourselves in the midterm and long-term future.
  
  "Identify some core values that have been brought to the organization," Brownson said. "Then, pose the questions, 'What do we do right now that aligns with these values? Where are we not aligned with these values? How can we stay aligned with these values as we grow over the next five years, 10 years?' Those questions address your current situation, for better and worse, and help identify the bigger-picture vision."
  
  Next, ask yourself what problems your company hopes to solve in the next few years. What does your company hope to achieve? Who is your target customer base, and what do you want to do for them?
  
  "Based on your responses to these questions, ask yourself what success will look like if you accomplish those things," said Jené Kapela, owner and founder of Jené Kapela Leadership Solutions. "This answer should shape your vision statement."
  
  Roy Farmer, owner of leisure-product company Allstate Home Leisure, recommends writing an imperfect first draft "from the heart," and then choosing the elements from that draft that really speak to you. Consolidate and review the list, and then rewrite, he said.
  
  "Repeat this process a few times, until you feel like it's done," Farmer told Business News Daily. "Then, take your statement to people you respect and trust. Ask them what they think, but be prepared for both positive and negative feedback."
  
  Another strategy to follow when writing your vision statement is to imagine that your company will be appearing in a publication in five to 10 years.
  
  "Draft out a short article describing your business in this projected future," advised Neil Desai, director of marketing agency Dynamic Digital. "What has been its biggest accomplishment? How many employees does it have? What is its net worth? How does your company compare to its rivals? Go all out, even if it's unrealistic."
  
  Asking a professional for help might be appropriate in some situations, Brownson added. "People are usually resistant to the first [brainstorming] part of the exercise, but that's actually the easiest and most fun," she said. "The hard part is distilling it into a phrase that is flexible, consistent and concise. Internal issues and marketing or sales issues are often a sign of a vision disconnect. That may be a great time to bring in a professional!"
  
  Tips for crafting your vision statement

  Vision statements should stretch the imagination while providing direction and clarity. A good vision statement will help inform direction and set priorities while challenging employees to grow. It's important that the vision statement be compelling not just to the high-level execs of your company, but to all employees.
  
  Here are some tips to keep in mind:

  • When describing goals, project five to 10 years in the future.
  • Dream big, and focus on success.
  • Use the present tense.
  • Use clear, concise language.
  • Infuse your vision statement with passion and emotion.
  • Paint a graphic mental picture of the business you want.
  • Have a plan to communicate your vision statement to your employees.
  • Be prepared to commit time and resources to the vision you establish.

• Your completed vision statement will give your employees a clear idea of your company's path forward. Then, it's up to you to nurture and support that vision and to inspire your employees to do the same.

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  
  

  Business Mission Statement

  
  

  When you're coming up with the concept for your business, an important component of your overall strategy plan is a mission statement. This brief statement declares the purpose of an organization and defines the reason for the company's existence. It provides the framework and context to help guide the company's strategies and actions by spelling out the business's overall goal. Ultimately, a mission statement helps guide decision-making internally while also articulating the company's mission to customers, suppliers and the community.

  What is the purpose of a mission statement?

  A mission statement is not the same as your company's slogan, which generally serves as marketing tool designed to grab attention quickly. The mission statement is also not necessarily the same as your vision statement, which defines where you want your company to go. While you may include the statement in your business plan, a mission statement is not a substitute for the plan itself.

  It's also important to remember that a mission statement is not evergreen. As a company evolves over time, its mission and intent may also change. A mission statement will keep your company on track, but it shouldn't become stale or irrelevant, so revisit it every few years to fine-tune it if necessary.

  What does a mission statement include?

  A good mission statement answers several key questions about your business:

  • What are the opportunities or needs that the company addresses?
  • What is the business of the organization? How are these needs being addressed?
  • What level of service is provided?
  • What principles or beliefs guide the organization?

• The mission statement should be short, yet resonate with both employees and those outside of the organization. A statement should express the organization's purpose in a way that inspires support and ongoing commitment. It is up to the mission statement to set the tone of the company and to outline concrete goals.

  Here's what business leaders say a mission statement should do for a company:

  "A good vision or mission statement will fill a few roles: It will be toothy enough to engage the media, analysts and other industry watchers. It will be aspirational enough to give employees something to reach for, and bind them together in their day-to-day work. And it will be clear and specific enough to build the brand and affect public perception of the company. In an ideal world, it will even give your customers a sense that they're buying into your vision when they purchase one of your products." – Kyle Monson, partner at Knock Twice hybrid creative agency

  "A company's mission statement is the cornerstone on which it is built. Its strategic plan and its culture are directly tied to the vision the mission statement puts forth. It is important that a mission statement support the overarching goals and purpose of the company and explain why [you] exist as a business in a way that can be understood internally within the company and externally to consumers." –Gerry David, president and CEO of healthy lifestyle company Celsius Holdings

  "Creating a mission statement takes time and a lot of decision making. It lays down expectations for how your customers and employees will interact with one another, so take your time with it. Clearly write down your vision of the company and ask yourself, 'What am I trying to accomplish?' Think about how you want others to perceive your company, what's important to you and your organization, and then prioritize it. Most importantly, make sure it's clear, concise and easy for anyone to understand." – Bobby Harris, president and CEO of BlueGrace Logistics

  Developing a mission statement

  The best way to develop a mission statement is to brainstorm with those connected to your business. Ask employees and customers what they see as your biggest strengths and weaknesses. It's important to see how others see your company and your brand so that you have more than one perspective. Take your time when writing the statement; it may take more than a few hours, so set aside a day to piece everyone's ideas together.

  A good place to start is by defining your company's core values, said David Wolfe, founder of men's sportswear company OLIVERS Apparel. For Wolfe and his team, this involved identifying the values held by people they respected most in their lives, and trying to find what overlapped.

  "When we set about creating our mission statement, we thought about a few things," Wolfe told Business News Daily. "We wanted to define in one sentence what our higher purpose was, in a way that had no bearing on our specific business niche. For our mission, we thought in terms of taking that larger vision and distilling that in a way that was relevant specifically to our business niche."

  You can also use your mission statement as an opportunity to tell your company's story in a concise, aspirational way.

  "Start with a story," said Dan Pickett,CEO of enterprise technology infrastructure company nfrastructure. "What are you trying to accomplish, and how do all the characters — employees, customers and partners — play into that? If you keep your company story in mind, you will always have a mission that speaks to everyone and pushes your company forward every day."

  A mission statement should motivate those connected to the organization, as well as those that the organization hopes to influence. The statement should be articulated in a convincing, yet easy-to-understand manner, without using industry jargon.

  "The value of a mission statement only comes from when all stakeholders — management, staff, suppliers, partners and customers — can internalize it and use it as a kind of internal business compass for when they make their day-to-day decisions," said Gee Ranasinha, CEO of startup and small business marketing firm Kexino. "As a result, mission statements need to be written using words and sentences that 'normal' people use and understand. If it's written in MBA 101 speak, then what's the point?"

  Once the mission statement is complete, it should be displayed to those inside and outside the business with pride. Post the mission statement in the office, print it on company materials and be able to recite it to potential customers.

  Examples of mission statements

  If you need help figuring out where to begin with your mission statement, here are some examples from large corporations.

  Nike: "To bring inspiration and innovation to every athlete in the world."

  Starbucks: "To inspire and nurture the human spirit — one person, one cup and one neighborhood at a time."

  Chevron: "To be the global energy company most admired for its people, partnership and performance."

  Amazon: "To be the most customer-centric company in the world, where people can find and discover anything they want to buy online."

  Intel: "Delight our customers, employees and shareholders by relentlessly delivering the platform and technology advancements that become essential to the way we work and live."

  eBay: "Provide a global trading platform where practically anyone can trade practically anything."

  
  

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