So you have decided to make the leap and become your own boss. You want to open your own small business. But where do you start?
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If you’re still in the infancy planning stage of the creation of your small business, the very first step that you should take before even creating a business value proposition is to create and write out a crystal clear company vision statement.
But just what is a vision statement? And how do you go about writing one? Let’s take a look at how you can write the perfect vision statement for your business to get it off the ground and on the road to success.
What is a Vision Statement?
First, you may be wondering just what a vision statement is.
A good vision statement is a jumping-off point for you to learn how to create your brand identity. It more or less sums up your business in its entirety: your goals, company culture, and how you want to go about conducting and building your business.
It’s a concrete way to state the purpose of your business to both customers and employees. It is different from a mission statement in that it projects future goals and desires, whereas a company’s mission statement conveys the “why” of a business’s existence.
Why is a Clear Vision Statement So Important?
Why is it so important to create a clear vision statement for your business right in the beginning?
For starters, it is key to the success of your business. If you’re wondering why businesses fail, it is due to a lack of a clear vision statement, which makes it impossible to reach goals and can cause confusion about your company’s desires.
An effective vision statement is what gets everyone on the same page as to where you’re going. It’s an important long term goal tool for not only you and your company but also in communicating that information to customers and business collaboration partners.
How to Write Your Vision Statement
How can you go about formulating your vision statement to reflect the goals of your company? Let’s delve into the three major components of a vision statement as well as some tips to make yours the best it can be.
Keep It Short and Sweet
A vision statement should be no more than three sentences maximum. There’s a good chance that you will find it hard to distill your business plans and goals into just a few words, but the vision statement itself needs to be easy to read and digest in a short amount of time.
But don’t worry, you still get to have some business storytelling time. You can create a longer form of this vision statement to share with leadership only. Just keep it simple for employees and customers to get the gist.
Think about What Your Long-Term Goals Are
A vision statement should be based on your ultimate goals for the company. Go ahead and shoot for the stars, setting ambitious targets to hit in the later stages of your business.
You should come up with specific objectives based on a 5-year model, 10-year model, and beyond. Think about the big picture and the impact that you want your company to have on a global and societal scale.
Plan Out How You Want Your Brand to Interact with Clients and Customers
Next, you need to think about what you want your brand to look like to the clients and customers that you serve. What does good customer service look like to you? What do you want customers to think of when they do business with you?
It’s easy to get generic with these plans but challenge yourself to think outside of the box. “Friendly” and “professional” are only going to get you so far, so you want to try and get more creative.
Consider What You Want Your Business Culture to Look Like for Employees
Lastly, you need to take a good look at what you want your culture to look like from the inside.
What do you want your business to feel like for employees? How are you going to make your employees and their happiness a priority in your company?
Do you want to create a competitive environment or one that feels like a supportive network of peers rooting each other on? Or do you want your culture to be a mixture of both?
Setting this up for your employees will make all of the difference in how hard they want to work for you, making for a more cohesive team that gets things done.
Other Things to Consider
There are a few other tricks of the trade to consider to perfect your organization’s vision statement so let’s take a moment to go over those.
Be Crystal Clear
When drafting up your vision statement, leave nothing to the imagination. Put everything in clear, simple terms. Avoid using jargon or complicated terminology; make your statement easy to follow for those from all levels of experience.
Create a Strategic Plan that You can Communicate to Your Employees
In order to make your vision statement a building block of your company, you have to get all of your employees on the same page as you. Make sure that you communicate this vision statement to each and every one of your employees from the beginning. That way, everyone is working toward the same common goal.
Welcome Change as Your Business Develops and Grows
Nothing is written in stone. As the market changes, your business will have to adapt and grow. Be open to adjusting your vision statement as your business does and as you continue to crush goals and set new ones.
Writing a Clear Vision Statement can Be the Key to Your Business’s Success
In order to give your business the best chance possible to be successful, you need to make sure that you and your team create a clear vision statement of your goals and work culture.
To get help setting your business up for longevity, get Maui Mastermind on your team to design a business you can be proud of.