If you want to grow your business, you need to have a clear picture, or a vision, of what you want it to become. Writing a vision statement, describing what your business is and what it will be in the future, can help you to plan and grow your business.
What is a vision statement?
Your vision statement is a picture of what you want your business to become in the future. It draws on your goals and dreams for your business. A clear vision statement helps you (and any employees) to know where your business is headed, and what your goals are.
Your business may have a mission statement, which describes what your business is doing right now and how it is done. A vision statement is a bit different – it is about where you want your business to be in the future, and what it will look like. It takes a long-term view, and focuses more on the greater purpose of your business.
Why have a vision statement?
A vision statement helps you plan for the future of your business. It should fit with your mission, values, and business culture. A vision statement answers three key questions:
- Where do you want your business to be in the future?
- What is the purpose of your business?
- What impact do you want your business to have on your customers? The community? The world?
Creating a vision statement
To create your vision statement, you need to think about what your business is, and what you want it to achieve in the future. You can do this by answering some questions:
- What are the core values of your business?
- What is your business mission?
- What business culture do you want to create?
- What are your current and future business goals?
- Where do you see your business in ten years’ time?
Involve any staff or co-workers the process. This helps create a sense of shared purpose and direction.
Writing a powerful vision statement
Once you have some answers, you can start writing your vision statement. Make sure your vision statement is:
- simple and easy to read
- ambitious but realistic
- inspiring – you want the vision statement to inspire and motivate you and other people.
Here are some examples of business vision statements:
- Local cafe: To build a community of coffee lovers, by serving the best coffee at the most competitive prices.
- Food business: To bring the curry pastes I learned to cook with my Thai family to international food lovers.
- Jewellery maker: To use recycled wire and glass to create sustainable, unique, wearable works of art that last a lifetime.
Using your business vision statement
As your business grows, you can review your vision statement to make sure you’re on the right track to achieving your goals.
You can also use it in your marketing and promotional materials. You could post it on your website or social media accounts, or use it as part of your business brand.
This article is adapted from the Business Victoria resource, Create your Business Vision Statement.
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