What Is a Vision Statement and Why Does My Business Need One?

A vision statement is something that says, "This is where we're going." That statement in itself should tell you why this is important, but in case you missed it, here are some clear reasons for why you need to take some time and work on this.

You need a vision statement because it
gives your business a sense of purpose and direction - you'll know exactly where you're heading. clearly articulates your most important goals and ambitions for your business. filters out the good opportunities (that might lead you off on a tangent) from the best opportunities (that will strengthen your position in your market) to help you make the best decisions for the future of your company gets everyone in your business on the same page inspires your leadership team, your staff, your partners and your clients and creates a sense of connection to a higher purpose. provides a measuring stick for how you're doing, and shows clearly what decisions need (and need not) be made. helps you hire the right people and make the right connections because you'll know clearly what you're wanting to achieve.

MISSION VALLEY

Without a strong vision statement, your business may well succeed, but it's not likely to thrive. A business can only thrive if everyone in the organization understands where they're going and what specific role each individual plays in the overall "big picture" of the company.

To start to work on your vision statement you'll need to examine your mission statement (which tells you what your purpose is) and ask yourself "based on my mission statement, where should my company be in 5 years?"

Here are some good examples of vision statements:

Avon
To be the company that best understands and satisfies the product, service and self-fulfillment needs of women - globally.

Chevron
At the heart of The Chevron Way is our vision...to be the global energy company most admired for its people, partnership and performance.

Ken Blanchard Companies
To be the number one advocate in the world for human worth in organizations

Nike
To be the number one athletic company in the world

See how it works?

Note: Make sure it's not some lofty "great words no meaning" vision statement. Make sure it's something your whole team actually gets excited about. You want this to be clear enough and practical enough that it will inspire, motivate and build a solid morale at every level of the company.

What Is a Vision Statement and Why Does My Business Need One?

MISSION VALLEY