Overview

A vision statement acts as the guiding "North Star" for your company, inspiring your team and steering your organisation's growth. It's a valuable exercise—drafting a good vision statement should involve collaboration among various company stakeholders and demands a substantial investment of time. Below, we've broken down the components of an excellent vision statement and provided guidance on crafting one. The same principles can also be used to develop a personal vision statement.

When embarking on a business venture, establishing a robust set of founding principles is crucial to lay the groundwork for your company. Alongside a mission statement, company values, and motto, a compelling vision statement is indispensable for navigating your business towards the future. The purpose of a vision statement is to motivate employees, attract investors, and captivate the imaginations of your customers. It outlines a portrayal of your company's future and the influence you aim for your business to exert on the world. Creating an inspiring vision statement demands effort and creativity.

What is a Vision Statement?

A vision statement represents your company's guiding beacon. It offers a broader perspective on the fundamental motives behind your company's mission. Instead of delving into the specifics of your business operations, the vision statement outlines how your company intends to influence and enhance the world around it.

What’s the difference between a Mission Statement and a Vision Statement?

The Mission is a one sentence statement outlining what your company does, why it does it and how it gets it done. The Mission describes what your company does in the present.

The Vision is an aspirational statement that describes a company’s goals for the future and the impact is intends to make on the world.

Qualities of an exceptional Vision Statement

Each Vision Statement is distinct to its company in terms of length, structure, form, and scope. Your vision statement should mirror your company's character. However, there are certain traits shared by all outstanding vision statements. Irrespective of its uniqueness in size, shape, or structure, a commendable vision statement should be:

• Ambitious. A vision statement's purpose is to inspire employees, investors, and customers to believe in your company's mission. Exceptional vision statements are aspirational and ambitious, evoking a passion for the ideal future towards which the company strives.

• Attainable. While your vision must be ambitious to inspire, it shouldn't be so far-reaching that it appears unachievable. You want to select something that your company will need to strive for, but an entirely unattainable goal isn't a vision—it's a fantasy.

• Expansive. A vision statement bridges your company's mission with its objectives, but it isn't an objective in itself. If your vision statement feels overly definite or specifically achievable, try broadening its scope.

• Strategic. Avoid squeezing every detail of your vision into the statement—be strategic in selecting ideas that resonate most profoundly and convincingly with your stakeholders. You might aspire to have offices worldwide one day, but your vision statement should centre on aspirations aligning with your company's mission and purpose.

Tips for crafting a Vision Statement

Here are some best practices to consider as you begin crafting your vision statement:

• Collaboration: The vision statement should mirror your entire company's character, and there's no better way to achieve this than by writing it collectively with key team members. Bring together leaders from various segments of the organisation to engage in brainstorming sessions for the vision statement. Seek their input on draft versions to garner support for your final vision statement.

• Write first, refine later: Don't aim to craft a concise, well-polished vision statement right from the start. Jot down all your thoughts, regardless of their scale. While a particular idea might not seem valuable initially, putting it on paper could spark better ideas later on.

• Maintain distinction between personal and company visions: Many individuals have personal vision statements reflecting their personal goals, which, if you're a business owner, might closely align with your company's vision. It's crucial to keep your personal aspirations separate from your company's vision statement, ensuring that the latter resonates with and represents the entire company.

• Avoid buzzwords and jargon: Using industry-specific language creates a sense of detachment and inaccessibility, even among industry insiders. Plain language proves more impactful than jargon. If you find yourself relying on buzzwords, isolate the phrase and envision explaining it to a friend or family member. Use that explanation's language to replace the buzzwords in your vision statement.

• Clarity over ambiguity: Vision statements don't have to be as precise as mission statements, but it's crucial to avoid words open to interpretations altering the statement's overall meaning. As you won't be present to provide context or clarification to every reader, ensure the statement stands on its own.