Developing a Business Vision and Mission Statement

A business vision is an inspiring vivid mental picture of what your company will be like in the future, according to your long-term goals and aspirations. It can be described as a map that guides you towards your goal. It should be written down so that you can be reminded of it every day and help to motivate you. A business vision gives guidance as to what to change and what to preserve. You might also want to create an action plan, which outlines the steps you need to take, with goals, to reach your vision.

For example, if your business vision is based around the need to provide low-cost services, your vision statement should outline the specific steps you plan to take to make this happen, where you plan to be, and how you plan to get there. In other words, it should tell your customers (and yourself if you are one) exactly what you intend to do and how you plan to get there. For instance, your vision might include offering low-cost or even free services to your customers who live in an area where you are not yet established. Your mission, on the other hand, could include saving the environment, creating jobs, social responsibility, a better economy, or another similar theme. So when you put your mission into words, it becomes a clearer vision of where you want to go. It becomes easier to achieve your goals, both short term and long term.

Your mission, together with your vision, will become your road map to business continuity. In other words, your mission statement and your vision will become your guiding principles in determining how to get from point A to point B, both in the short term and over time. By applying your business vision and mission to your business, you make it clear to everyone who is involved what your overall objective is, the road you are taking, and the consequences for failing to meet your goals. This clarity also makes it easier to make the tough decisions that have to be made in order to keep the business moving in the right direction.

By establishing your business vision and your core values, your journey to success becomes easier to chart. You are already on the right track. When you add the core values associated with your vision statement and mission, the only thing left to do is to chart your journey accordingly.

Other than business vision statements and mission statements, it is also important to consider other factors that will contribute to your success. One is to look at your company history. What do some of your most successful products or services tell us about who you are and how you got where you are today? Your company history gives you a rich source of stories and examples about the way you thought things out, what obstacles you faced and how you conquered them, and the lessons you learned along the way.

This company history becomes a part of your personal and professional identity. In a way, your vision becomes your “self” and your mission statement and your goal to become a “self-image.” When you use your mission statement and your vision statements together, they become a “guide.” Your employees will know what kind of things you expect of them and they will feel that they are a part of something bigger than themselves.

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Tim Spafford

Tim is a student who works hard to get a degree in finance and build a successful career in business consulting. Being a student and living in London Tim has a real-life experience in budgeting, saving, money making, traveling and having fun.