April 14, 2024

Business Bib

Business & Finance Blog

Business Vision: Steering Your Business in the Right Direction

3 min read

Are you aware that only 50 percent of small businesses are still going strong after five years? If you’re hoping to beat those odds, you’ll need the right business goals — and a clear way of articulating them. When you map out the right vision statement, you can move the needle on progress.

Stick around to learn how you can develop a business vision that steers your business in the right direction!

Know the Purpose of a Vision Statement

Make sure that you draft a vision statement as part of your business plan. And remember that a vision statement is distinct from a mission statement.

With a mission statement, you justify your company’s purpose, including the guiding values and scope of service. With a vision statement, you try to project toward a future that is better because of your company’s existence. In other words, you want to capture what that future will look like when you achieve your mission.

Determine Content

You’ll want to incorporate business goals into a vision statement, but that’s not all. Infuse your writing with a sense of passion to show that you care about achieving the best outcomes.

Help the reader envision what you’re about using clear and descriptive language. Avoid relying on industry jargon that won’t make the statement accessible to a larger audience.

Instead, think about elements like prices, opportunities, or sustainability. Your work in these areas may distinguish your company from others.

Use specific details — but avoid being too specific. In other words, try not to latch onto specific numbers. But if you’re aiming to achieve a certain product line by the year 2025, for instance, it’s fair to specify the year.

Workshop Your Draft

Send a copy of your business vision to internal stakeholders, like executives or board members. But to create a more democratic approach, consider reaching out to other engaged employees.

Engaged employees at every level may have keywords or phrases to contribute to the planning process. And they may have clear feedback to help reshape a statement idea. As an added benefit, employees will love being involved in building their company’s future!

And remind everyone that a vision statement can change. You don’t have to stick with the same one five years down the road. Customer feedback and data may prompt you to shift your vision over time.

Build Your Business Reputation

When you’ve polished your vision statement, you need to share it with the world! Start by incorporating it into your marketing strategies. This SEO company can help you get started.

Remember to share the vision statement with key stakeholders to build your business reputation, too. Employees at every level should be able to read the finished product. Plus prospective employees will be impressed to see a forward-thinking company with clear goals and a sense of passion!

Craft Your Business Vision

Bringing your business vision to life entails writing a memorable vision statement. Involve the right people in the process, and be specific in outlining goals. Then edit the statement and share it internally as well as with potential clients!

Need more effective business strategies? Check back for new articles soon.