Starting a business is a challenging process. If you want your project to go far, be successful, and stay on target, a business plan is an essential tool in your arsenal. Part of that plan may be crafting a vision statement. In this article, we’ll take a look at several vision statement examples and identify what makes a strong, compelling statement. This guide will then help you create a powerful and inspiring vision statement. With our easy steps and helpful tips, you’ll have everything you need. Now—let’s craft your vision!
What is a Vision Statement?
A vision statement is a short passage that encapsulates a business’ philosophical and emotional goals as determined by the founder(s) or other high-level stakeholders. It is rarely longer than one to three sentences, and should quickly inspire the spirit and core values of the company in anyone who reads it.
Vision statements help clarify your company’s purpose and direction. They also provide a guide for employees and customers who may not know exactly what you do, which will help them care about your success.A crafty vision statement is also an important part of your business plan. That’s why we’ve included a section to create your own as part of Blueprint, our free business plan generator. Blueprint will work with you to answer a series of questions about your business, covering everything from vision statements and team information to financial overviews and sales analysis. At the end, you’ll get a professionally designed business plan to print, download and share.
Why It’s Important to Have A Vision Statement
A high-quality statement that quickly communicates goals and values is a critical cornerstone for any successful company. It can be useful when recruiting and training employees, when crafting marketing materials, and when communicating to new and existing customers.
In this modern digital age, most consumers and businesses have many options regardless of the product or service they’re seeking. Making a buying decision often boils down to which company has a clear offer and aligns with a customer’s values and principles.
The average buyer of most products and services will not be an expert regarding everything they purchase. Therefore if there are multiple companies with similar prices, reviews, and offers, connecting with their human spirit can often tip the scale in your favor.
How to Write a Killer Vision Statement
Infusing emotional power into a single sentence is not easy, but if you follow our simple advice you’ll be able to write a company vision statement that will guide your brand into the future.
- Step 1: Envision what you want your brand to accomplish. Think about long-term goals rather than short-term. What value will you provide to the world over the next 5-10 years?
- Step 2: Determine why you are pursuing this particular goal. For example, if you’re creating a sustainable energy solution, what are the top reasons that you chose that mission?
- Step 3: Create a short list of words that exemplify your goals and reasons for pursuing them, and use those that resonate most with your purpose to craft a simple sentence explaining your company’s philosophical purpose.
Once you’ve created a working draft for your statement you can play with different versions of it and show it to other company stakeholders and/or friends and family who know you well. With a little feedback and positive reinforcement, you should be able to arrive at a simple sentence that is more than satisfactory.
Difference Between a Vision Statement vs. a Mission Statement
There is often some confusion between these terms—while the two do cover some common ground, the difference is quite simple.
A vision statement is more philosophical and summarizes your company’s long term goals. It’s about where you’re going and why, and it will generally stay the same over long periods of time.
A mission statement is more tactical and explains how your business will accomplish its goals. It’s about where you are and what you’re doing right now, and may change every year or so as necessary.
Strong Vision Statement Examples
Sometimes the best way to understand something is to see it exemplified, so here are some of our favorite statements that get straight to the point.
Ownr
Enabling Canadian entrepreneurs to start, manage, and grow their businesses.
Tesla
To create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.
Amazon
To be Earth’s most customer-centric company, to build a place where people can come to find and discover anything they might want to buy online.
Ikea
To create a better everyday life for many people.
Patagonia
To use all of its resources to defend life on Earth.
Disney
To be one of the world’s leading producers and providers of entertainment and information.
While none of these statements are the exact same length or follow a specific formula, they all address some or all of the points mentioned above. For example:
- Ownr’s vision statement expresses our desire to improve the quality of life for Canadian entrepreneurs of all experience levels.
- Tesla’s statement implies their focus on breaking into a difficult industry by introducing innovative technologies and superior products.
- Amazon describes both their company culture and their ambitious goals, which work together to make them the largest eCommerce stores on Earth as well as a growing entertainment company.
- Ikea keeps it simple while describing their main goal with a single broad stroke that’s easy to understand and match with their practices.
- Patagonia implies their uncompromising principles in a single sentence while hinting at both their current and future goals.
- Disney expresses their desire for unlimited growth by way of providing media and knowledge to consumers in a variety of formats.
Whether a company’s strength lies in innovation, quality of customer service, or elsewhere, a good vision statement gives business owners the opportunity to encapsulate their company spirit and their goals within a single phrase.
Frequently Asked Questions about Vision Statements
Hopefully this article has helped you understand what a vision statement is, how to craft and implement one, and why they’re so important for internal and external use. Here are a few common questions and answers related to this topic.
What is a good vision statement?
A good statement will use the power of ideas to turn the ideas and values of founders into company strategies that can be easily understood by new employees and potential customers alike.
How do you write a simple vision statement?
To write a simple but effective phrase that will embody your brand, determine your company’s goals as well as why you want to achieve them and then express the two as coherently as possible in a single sentence.
How do you write a strong vision statement?
If you’re having trouble creating a strong statement, first make a list of words that resonate with your goals and values. Next, use a thesaurus to expand the list and find new words that work well. Then pick your favorite words from the list and use them in a short phrase that expresses the spirit of your company.
This article offers general information only, is current as of the date of publication, and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While the information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by RBC Ventures Inc. or its affiliates.