A brief description of a company’s long-term goals. Vision statements tend to be highly aspirational, serving to guide decision making, unify and motivate employees, and even inspire customers. Vision statements (focused on the future) are often paired with mission statements (focused on the present) and value statements (the behaviors a company encourages in order to reach its goals) to help guide company planning.
A company vision statement spells out what a business aspires to achieve. Because it articulates how the company will make a difference in the world, it provides company leaders, employees, customers, and investors with a clear understanding—and ongoing reminder—of what a company stands for and where it’s ultimately headed.
A well-crafted vision statement has multiple benefits. It aligns your company’s ongoing decision making because it keeps employees focused on a common objective. It helps with attracting and keeping the best workers, since more than 2 in 3 employees place a high priority on doing work that aligns with their interests. It can also motivate customers (and for bigger companies, investors) who are inspired by your company’s mission and business practices.
In short, your company vision statement will help you:
Your vision statement will be unique to your company, but it may be helpful to see how well-known companies express their vision for the future.
Tesla: “To accelerate the world’s transition to sustainable energy.” (Accelerate. Nice touch, Tesla.) This vision statement works overtime by setting the company up to explore other energy solutions beyond automotive, such as solar and battery power.
TED: “We believe passionately in the power of ideas to change attitudes, lives and, ultimately, the world.” Note that this vision statement doesn’t start with “to.” Instead, TED (which stands for technology, education, and design) is setting out the motivation behind its mission to spread ideas through its events and webcasts.
Oxfam: “A world without poverty.” This nonprofit aims high. But, it also inspires. This extremely concise vision statement is a clear north star for the organization’s mission to erase poverty and create lasting solutions.
Zappos: “Delivering happiness to customers, employees, and vendors.” Anyone who’s shopped at Zappos knows that the company goes above and beyond to give customers a positive and memorable shopping experience. The online-only retailer gets extra stars for working in the word “delivering.”
IKEA: “To create a better everyday life for many people.” This statement inspires while supporting the company’s overarching mission: to provide well-designed, functional home furnishings to the masses.
When you sit down to craft your vision statement, focus on what success will look like for your company.
You can start by answering these questions:
Focus and clarity bring vision statements to life. Use these best practices to devise and refine your company’s vision statement:
Once your vision statement is complete put it to work for your business by:
Now is the time to craft a strong vision statement to unite your team’s efforts behind the work that really matters. Start the process today and shape what your business will be tomorrow and beyond.