What is a Vision Statement? Steps to Developing a Powerful Vision Statement for Your Business

Developing Your Vision Statement

If you are starting a new business or have an existing company, a vision statement is key to sharing your goals for the future with your customers, investors and your employees. So, what is a vision statement and how do you develop one for your company?

Through a vision statement, people will get a good idea about the future plans of your business. Whether you want to be the premiere business in a certain field or help your customers fulfill their passion, your vision statement should provide a snapshot about your company.

Consider Creating a Vision Survey

Before you develop your vision statement, consider creating a survey to get input about how your customers, investors and board might see your company in the next five years. Surveymonkey.com provides businesses with free basic online surveys that can be emailed directly to your constituents and the results tabulated within minutes.

Brainstorming session

Brainstorm about Your Vision

When you are developing your vision, it is best to sit down with your staff and discuss the direction of your business. It might be a good idea to discuss your vision at a company retreat or a location away from the office. The vision brainstorming session should be in a comfortable atmosphere and allow all staff to talk freely about your company. There are certain key questions that you need to ask about your company:

What are some major changes in my field that can possibly alter the direction of my company?

Does my company want to expand into another field as a possible growth opportunity?

How will my vision affect my customers, board, investors, and staff?

Write Your Vision on Paper

During your brainstorming session, write down any key words that can be used in your actual vision statement. Discuss which words need to be in your statement. Although some companies incorporate their values and principles, you can choose to have one sentence or a few sentences as part of your vision statement. For example, The Coca-Cola Company’s vision is made up of six "p" words–people, portfolio, partners, planet, profit and productivity. Since your vision looks toward the future, make sure your vision statement is not focused on the current conditions of your business. You might have several drafts of your vision statement before all of your key staff can agree on the exact words that should be used in your statement.

Create a Vision that Inspire Others

Everyone loves to be inspired. Make sure that your vision statement inspire others to want to do better or make the world better. Since your vision statement will remain with your business until there is a drastic change in your company’s structure, make sure that your vision statement is clear and honest about your product or service.

Developing a vision statement is not an easy task. However, utilizing these tips will help you and your staff learn what is a vision statement and how it can help you focus on your company’s goals and future.

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