What you need to know about the importance of creating a vision statement.
Every business has two basic components: A mission and core values. The mission is simply a statement of why the business exists, and the core values are the guiding principles that dictate employees’ behavior and action.
But many companies are missing one vital component: A vision. This is an idea or set of ideas that guide a company into the future. A vision is forward thinking, and should push a company toward something bigger, better, greater.
Without a vision statement, it’s hard to nail down what your company is striving for. Are you hoping to be the top locally-owned club in your town? Do you want to become a nationally recognized business? Do you want to help your community get off the “Most Overweight Cities” list? Or are you simply striving to offer the best customer service out of any gym in your area?
What exactly is your “vision” statement?
If you don’t have one, here are some examples of vision statements from other companies, to provide inspiration:
Ikea: “To create a better every day life for the many people.”
Nike: “Current: To be the number one athletic company in the world.”
Ford: “To become the world’s leading Consumer Company for automotive products and services.”
Disney: “To make people happy.”
As you can see, vision statements can be short, quantitative or qualitative. And of course, they can change as your company evolves.
The key is that you have one. Vision statements help you better evaluate business opportunities and act as a compass for your company to guide you into the future.
Here are some questions to answer that may help you define your vision statement:
- What was your vision when you first opened your business?
- What would you strive for if there was no competition?
- What do you excel at? What do your customers rave about?
- What are the biggest challenges you need to overcome?