All businesses irrespective of size should have a vision statement. Depending on the size of the business this can be drafted by the owners or directors. In a larger business, it may be prudent to seek input from key staff as well.
The vision statement should not be confused with a mission statement which is simply a present-based statement to describe a sense of why the business exists to both staff and external parties.
A vision statement by contrast is very much a long-term proposition that sets the direction of the company, its goals for the future, and is also designed to inspire the employees and create a sense of purpose and unity around common goals and aspirations.
In crafting a vision statement, you should look at competitors and other similar entities’ vision statements to get a sense of what you want to achieve in your statement. The general rule is that it should be short and concise and not longer than a couple of sentences.
There are some basic points or questions that should be addressed when developing a vision statement:-
There is nothing wrong with having a bold vision, think big as what may look challenging can probably be achieved in the future with the right team.
Here are a few examples of simple but effective vision statements:-
Amazon: “To be Earth’s most customer-centric company where customers can find and discover anything they might want to buy online.”
Google: “To provide access to the world’s information in one click.”
Ikea: “To create a better everyday life for the many people.”
Samsung: “Inspire the world, create the future.”
Hewlett Packard: “Our vision is to create technology that makes life better for everyone, everywhere, every person, every organisation, and every community around the globe. This motivates us, inspires us to do what we do, to make what we make.”
As can be seen, these are all simple, concise but clearly set out what they want to achieve.
Clearly, a lot of thought has gone into their construction and from the point of view of employees, customers, and other interested parties there is no doubt or ambiguity as to where they are going.
Adopt the same principles for yourself!!