What is a vision statement?
This is an internal message, for you, that describes where your company wants to be in the future. It describes the hopes and dreams you have for your business; in other words, it’s the vision you have for your business.
Why is this important?
It can help you stay on track. For example, it can help you think about what to do or what not to do in your daily operations. It can also motivate you and your employees. Any time you feel like you’re not sure whether to do something in a certain way, your vision statement can help remind you of your goals and overall vision for your business.
Take a quick moment to think about goals. This is something we explored in Lesson 2: An Entrepreneurial Approach. Read through the two questions below, , and then click on the questions to reveal the answers.
What is a goal?
Why is it important to have goals?
Your vision statement will serve as a goal and a “north star” for you – it reminds you of the direction that you want to go in.
How do I do it?
First, answer the following questions:
- Where/what do you hope your business to be 5 to 10 years from now?
- How will your business be known? How do you want people to think about your company?
Then, summarize your answers to form about one to three sentences.
Click on the images below for some helpful examples of vision statements.
Tips for creating your vision statement:
Remind yourself that this is an internal statement to help your business stay on track and to motivate you and your staff. Use the following questions to guide your thinking:
- How much revenue do you want to make? (be ambitious but realistic with your numbers)
- How many employees or customers do you want to have?
- What other achievements would be meaningful to you?
- How do you want people to think of your company?
Your vision statement connects to your overall business plan as part of your business profile. Like with your positioning statement, you might adapt or change this over time.