How to Write a Vision Statement for Business
This article focus basically on how to write a Vision Statement for business. A unifying business idea that transcends the company’s profit motive or vision is a vital ingredient to all organizational decision making and most effective corporate cultures.
One of the basic principles of business is to make profits. But this session is going to emphasize on the importance for companies to build a brand on ‘purpose’ and not only for making money.
This is because many CEOs and funders are intuitively uncertain about how to create the set of core business
statements that drive growth through the brand’s internal and external positioning. More customers and employees (specially) will want to do business with companies that stand for something beyond just making money.
The world’s greatest corporate brands like Apple, Google, and others are more than just profitable enterprises
and best selling brands. Instead, they know how to inspire enthusiasm in consumers, trust and dedication in the minds of their employees. What sets most of these companies apart is that they are organized around a mission that supports the transformation of greater environments. In fact, it‘s not just what you sell, it’s what you stand for that matters in Today’s market.
Therefore, understanding the differences between vision and mission statements, brand purpose and other core delivery factors will inform your business ideas, and business modeling process. So, below are the core organizational value statements that influence your business planning and ideas generation.
Key Organizational Value Statements for Every Business
#1. The Purpose
Purpose is the WHY you exist – and this is bigger than any business goal. When an organization has a clear
purpose, it attracts talented personnel, strategic alliances and loyal customers.
#2. Brand Promise
While a brand promise let’s your potential customers know what to expect, you should think of promise as the reliability, quality, speed, convenience, trust, safety, etc., that your customers will enjoy. Yet, a brand purpose goes much deeper as mentioned.
Since the brand purpose is the WHY we are in the business, effective brand story or promise reflects motivations or the importance people attach to the organization’s products or services.
Never promise more than what you can deliver, rather under promise, then over deliver!
#3. Values Statement
It’s what you stand for and HOW YOU BEHAVE.
Values are the traits and qualities that shape daily actions which employees, customers or suppliers share.
These values shape corporate culture when they become deeply held and high priorities by participating members.
#4. Policy Statement
A policy statement is an organization-level document that prescribes acceptable methods or behaviors
with respect to a specific issue or situation.
Essentially, a policy is intended to serve as guidance or simply the way things are done within an organization.
#5. Brand Positioning
A typically crafted brand statement clarifies the unique value proposition to your primary audiences. Branding and positioning a business ultimately define and construct the “core ideology” in visionary companies – animated by a Purpose.
The ability for a brand to separate itself from the rest of the market and deliver distinguishing product experiences to customers is intrinsically known as brand positioning. It’s HOW you DIFFERENTIATE from your competitors. Your business is your brand so make it outstanding!
#6. What is Mission Statement
Mission is HOW you plan to achieve our vision.
Mission statement defines the organization’s purpose and primary objectives. Its prime function is internal – to define the key measures of the organization’s success –its prime audience, leadership team and stockholders.
A good mission statement determines the best path to achieve the overall organizational vision.
#7. Vision Statement
A carefully created vision statement is at the heart of every successful business. Vision is WHAT you aim to achieve. Your business vision is a concise outline of the business purpose and goals. A clear vision statement is a depiction of a desired result that motivates, energizes and helps an organization describe its destination.
In order to determine the direction of your business, it is necessary to understand your current position and the possible means through which you can pursue the particular line of actions. We’re going to look at how to write the perfect VISION for your business – a key component of your business planning process.
The vision of an organization is often captured in its vision statement. Regardless of the individual or
business, a vision statement can be as simple as a single sentence or can span a short paragraph. A vision statement simply defines the core ideals that give a business shape and direction. For example, a charity organization working with the poor might have a vision statement which reads:
“A world without poverty.”
Again, a vision statement can also describe the organizational picture at some future time:
“To be the most trusted name in healthcare”
This statement clearly and concisely communicates the business’s overall goals, and can serve as a tool for strategic decision-making across the company. Below are the exercises on how to write a good vision statement for your business.
How to Write a Vision Statement fro Business
Close your eyes for a few minutes and picture up a detailed image of what you want your life to look like in the
next 3-5 years. You should base your reasons on the surrounding where you live, how you spend your days, the kind of work you’re doing, your current income level, and so on.
Few questions to answer include:
- Are you a city or country person?
- Wanting to travel or sit at your computer?
- Liking to meet people or sell on the marketplace?
These are personal issues that will impact the type of business you pursue. Now create a vivid vision of yourself, touching on things that are important to you. This activity will help you create a foundation for choosing your business ideas, making business decisions, and setting clear goals for your business.
Remember to write your sample vision statement down to make it more concrete. It is best to do this exercise with someone else and share your vision with people of like minds.
Wrapping up: How to Write a Vision Statement for Business
Every new business needs a business model at the end of a brand strategy process. There are so many proven business models we discussed in our previous chapter, so it’s just a matter of learning about them and deciding which one best fits your business ideas.
Taking care of the daily details of running a small, medium or large scale business can be that demanding. But we believe that when organizations clarify, understand and live each of their core statements, they have a significant probability for success.
Now, you will be looking further at the basic parameter that drives your business planning processes. Obviously, a business planning process basically deals with five key questions:
- What do we do? — Your mission.
- For whom do we do it? — The vision.
- How do we get there? — Strategic business plan.
- What is our blueprint for action? — Executive budgets over the time period.
- How do we know if we are on track? — Management
audit and control systems.
However, further information regarding business planning, brand poisoning and policy implementation fall
beyond the scope of this book. If you have any question concerning these parts, kindly get in touch us.
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