Strategy is the key to starting and managing a successful company. Understanding what you want to achieve and how you plan to do it should be the cornerstone of your business. Otherwise, you will not be able to strategically grow your business and achieve your goals. Mission and vision statements define what is your company working towards. They are not parts of the strategy that just sounds nice, they give your company and team-specific direction which is extremely crucial for running a business successfully.
In this article, we will supply ideas on how to develop mission and vision statements. What aspects to consider while working on strategy and how to incorporate great aspirations in day-to-day activities.
What is a vision statement?
The vision statement tells the dream of the company. Through a good vision statement, we can understand what the company wants to be and what are its aspirations. A vision statement is your philosophy, and it is the basis you want to build your business on. While a vision statement is generic, it should be implemented in the daily life of a company.
How to create a vision statement?
When you are working on a vision statement, try to see the bigger picture and imagine your company in a perfect world. Vision statement usually stays the same because it shows the values and culture of the company. Therefore, you want to create something with a long-lasting impact and relevance.
The vision statement should be unique and capture the essence of your company. We recommend you create a statement that is short because it will be easier to communicate it with your team and community. However, do not remove important things from the statement just to make it shorter. The goal is to capture the company values in the best possible way.
If you are struggling with vision statement creation, talk with your colleagues. If you are running a small business, try to involve every employee. You can interview your staff or receive suggestions from them. This process will help you see how your company is viewed. As a result, you can either create a statement that strengthens the existing look or change the perspective with a statement that defines your vision more clearly.
Another tip for writing a powerful vision statement is to come up with answers to these questions:
- What is the best your company could do?
- How do you want to be perceived?
- In ideal conditions, what would your company do and how would it operate?
Remember, just creating a vision statement is not enough if you do not implement it in your corporate culture. If a vision statement stays on the paper, then you might not even create one. A vision statement works if it is in coordination with the company’s mission and applied to every aspect of the business.
What is a mission statement?
Business strategy begins with a broad concept that is captured with the vision statement. After developing the generic idea, you need to specify how you want to implement it. That is where a mission statement is needed.
After you have developed a vision statement, it is time to think about your mission. However, keep in mind that some companies prefer to define a mission statement first and only after start working on the vision statement. The idea is that first, you create a specific reason why the company exists and then create a vision for that company. No matter how you approach this dilemma, the most important is to capture the concepts of vision and mission in the statements.
The mission statement defines how you are going to execute your vision. Basically, it should tell what tools and tactics you will use to achieve the ideal condition described in a vision statement.
How to write a mission statement?
In a mission statement, you want to capture the company’s purpose and its intentions. A mission statement describes what a company wants to achieve and how it wants to do it. The mission statement, just like the vision is unique for every company. However, it could be smart to look at other company’s mission statements and use their experience.
Let’s discuss how to write a mission statement through the example of Amazon.
The mission statement of Amazon states:
“We aim to be Earth’s most customer centric company. Our mission is to continually raise the bar of the customer experience by using the internet and technology to help consumers find, discover and buy anything, and empower businesses and content creators to maximise their success.”
You can clearly identify the goal of the company, as well as its means to achieve those goals. So, when you are writing a mission statement analyze what tools are you going to use to achieve your objectives. Additionally, what kind of opportunities do you offer to your customers and community. Try to capture the personal connection you intend to build. For example, Amazon wants to empower businesses and content creators, because the company is actively involved with them. Ideally, a mission statement should include people who play a key role in your business.
Additionally, a mission statement should be goal-oriented and concise. It would be helpful if the wording and structure of the statement is clear. You want the mission statement to be communicated with your customers, team as well as stakeholders. This is why it is important to have a coherent and specific mission statement.
Mission Statement VS Vision Statement
The difference between these two statements is the point of confusion for many. In reality, while they are highly intertwined, they are still quite different. Vision statement captures the ideal condition of the business: what are its aspirations and what it would like to do. On the other hand, a mission statement defines how the company intends to make its vision real. A vision statement is broad and generic while a mission statement is more specific.