Initial Stepping Stones in Creating a Vision for Your BusinessDate: 24 September, 2021
If you’re starting a new company or going through a rebrand, it’s crucial that you create a clear vision for your business. Put simply, a business vision summarises what you want your business to achieve or become in the future.
It usually takes the form of a vision statement, which outlines a company’s ultimate destination and gives employees direction. A clear business vision will also aid the strategic planning process and help you make decisions with an aim in mind. Keep reading to find out more…
How to create a business vision
When developing your business vision, competitor analysis is a good place to start. Visit the websites of companies you admire and direct competitors to read about their vision and values. How do they present themselves? How are they perceived by others? What is their purpose and what problems do they solve? What are their strengths? Then answer similar foundational questions about your own business.
Brainstorm core values and keywords
Next, consider your core company values. These are what you stand for as a brand and act as guiding principles for employees. You should also come up with a list of keywords relating to your product, mission and goals, that you could use in your vision statement. A brainstorming session with stakeholders and those responsible for implementation is a great way to gather ideas and ensure everyone is on the same page.
Think long-term and dream big
While your business vision needs to be realistically attainable, it can still be bold. After all, this is the overriding goal for your business and the ideal scenario you’re aspiring for if all goes well. Think about where you’d like it to be in 5 or even 10 years’ time. What impact would you like your business to have on your customers, community and industry in the long term? Remember to align your ideas with the core values discussed above.
Draft your vision statement and ask for feedback
It’s now time to draft your vision statement. Start by getting some rough notes down on paper – you can refine them later. Answer important foundational questions about your core purpose and values, add in keywords and be concise. Aim for a paragraph at first and then condense it down into one or two sentences of no more than 35 words. As an example, this is Google’s: “To provide access to the world’s information in one click.”
Finally, get feedback from your colleagues and industry peers to check the statement resonates and that it is easy to understand before sharing it with the entire team.
Need help refining your business vision?
Before you come up with any marketing plans or strategies, you’ll need to define your company’s ultimate goal. If you’re struggling with creating a vision for your business, our Manchester-based brand strategists can help you turn your ideas into a tangible vision statement. Simply email us at firstname.lastname@example.org and we’ll be in touch.