Are you and your team charting a course toward a shared vision of the future? If so, what is it?
If you can’t answer these questions, your organization might be missing a crucial foundational element: a vision statement. Organizations that adopt a future vision—a shared goal or objective extending beyond financial performance—often outperform their competitors.
If you haven’t already defined your company’s vision, you could be hindering progress or, worse, moving in circles. However, it’s never too late to develop a vision statement, and we’re here to help you get started.
What is a Vision Statement, and Why is it Important?
A vision statement is not to be confused with a mission statement. While a mission statement describes what your company does and how it differs from other organizations in your competitive space, a vision statement clarifies the direction in which your organization is headed by stating the outcomes you expect to achieve in the near future. Essentially, a vision statement explains how your company plans to live out its mission statement. The mission is timeless, but the vision is time-bound and more tangible.
Here, we outline six steps for developing a vision statement and, more importantly, what to do with it once it’s complete.
1. Project Five to Ten Years into the Future
Imagine a future where your business is competing well or dominating the market. What does that world look like? Can you get there? For example, if you want to double your company’s profit in five years, what would that entail? Would you be in a different geographic area? Would you offer different products or services? Would you become a strategic partner with your clients rather than a third-party vendor? This “world” is where your vision statement should live.
2. Determine Your Purpose and Position as an Organization
To write a vision statement, consider your company’s objective, advantage, and scope (OAS). Answering the following questions can help you articulate your organization’s strategy:
- Objective: “Why does our organization exist?”
- Advantage: “How do we do things differently, better, or more efficiently?”
- Scope: “What should, or shouldn’t we do to achieve our objective?”
Use SMART objectives (Specific, Measurable, Achievable, Relevant, Time-bound) to develop clear and specified goals.
3. Describe What Success Looks Like
To help formulate your statement, consider how you might complete this sentence: “We are successful if we are….” The resulting sentiment should be clear and succinct, revealing what sets you apart from the competition. The end result should get everyone on the team excited and working toward a common definition of success.
Example Vision Statement: TrueWinds Consulting Vision: “To be the comprehensive resource for personal and organizational development, training, talent acquisition, and education…to our clients and to our industry.”
4. Write Your Vision Statement
The steps above should reveal important ideas and goals for your organization. Use this information to craft your vision statement. Consider these suggestions:
- Nonprofits tend to describe an ideal world, while for-profit organizations describe their place in an ideal world.
- Nonprofit Example: Project Evergreen’s vision is “A greener, cooler Earth. Healthier, happier people.”
- For-Profit Example: Mariani Landscape’s vision is “We believe in connecting people with nature in a way that inspires and transports them. This is how we improve the world: one garden at a time.”
5. Communicate Your Vision
Your employees are the primary audience for your vision statement. If they don’t know about it or if it doesn’t resonate with them, it won’t serve any purpose. The same applies to your Mission and Core Values statements.
Share your vision repeatedly via multiple channels. Post it on your website, include it in corporate email signatures, print it on company swag, and display it on office signage. Ensure the message circulates consistently in creative ways.
- Visual Communication: Use visuals to make your vision more engaging. A graphic designer can stylize it using typography and images.
- Feedback: Collect feedback from employees about the vision statement and be open to making adjustments.
- Consistency: Ensure every future action aligns with your vision. The vision becomes meaningless if it’s neglected or disregarded.
6. Measure Progress Toward Your Vision
Your envisioned future should be attainable. Once you create the vision, take specific actions to make it a reality. These actions, defined as part of your strategy, convert your vision statement into measurable indicators.
Implement a strategic framework like the Balanced Scorecard to track progress. Break down your goals into manageable pieces with initiatives and action items. The goal isn’t to craft a vision that’s so unattainable you’ll never reach it. When you do achieve your vision, set a new one, look into the future again, and decide where you hope to head next.
Conclusion
Developing a vision statement is an ongoing process that requires commitment and regular reassessment. By following these steps, you can create a vision that drives your organization forward, fosters team alignment, and sets a clear path for future growth.
Remember, as Arnold Glasow said, “One of the true tests of leadership is the ability to recognize a problem before it becomes an emergency.” By anticipating your organization’s future needs and aligning your team with a shared vision, you can navigate challenges more effectively and ensure long-term success.
Upcoming 2-Day Online Masterclass
To further explore effective strategies for enhancing your business operations and client relationships, join me for a 2-part deep dive seminar on June 18th and 19th.
Event Title: “The People Dilemma – Cultivate Your Team: Recruit, Train, & Retain The Best!”
- Day 1: Tuesday, June 18, 2024, from 1:00 PM to 2:30 PM EDT
- Day 2: Wednesday, June 19, 2024, from 1:00 PM to 2:30 PM EDT
This masterclass will cover critical aspects of recruiting, training, and retaining the right people for your business. Don’t miss this opportunity to equip your team with the skills needed to thrive in today’s competitive environment.
Be Well, Do Good Work, and Keep In Touch.
Fred Haskett
To Learn More Contact Fred at TrueWinds Consulting