Creating a vision statement is an essential step in the process of setting up a business. It is a concise and clear statement that outlines the company's long-term objectives and aspirations. It should be inspiring and motivating, and it should provide guidance when making strategic decisions. This comprehensive guide will help you understand the importance of a vision statement and how to write one that will have a positive impact on your company.
First, let's look at why it's important to have a vision statement. A vision statement is a powerful tool that can help keep everyone motivated and focused on the same goal. It also serves as a guide when making strategic decisions, such as partnerships, collaborations, and expansions. When writing your vision statement, it's important to keep it simple and memorable.
Avoid technical terms and jargon, and use the present tense. Seek clarity instead of trying to write something catchy. Start by jotting down all your ideas and then boil them down to the essentials. Keeping just one or two key points helps create a clear vision that everyone can easily focus on and comply with.
While companies should not be too ambitious when it comes to defining their long-term objectives, it is essential to establish a larger and broader objective in a vision statement that communicates the company's aspirations and motivates the audience. Behavioral statistician Joseph Folkman conducted a research study on vision statements and how they can affect the success of a company. He found that companies with strong vision statements are more likely to succeed than those without them. To illustrate this point, let's look at IKEA's vision statement: “To create a better everyday life for the many people”. As a company, it uses this vision statement to guide its ethics and what it calls the IKEA point of view.
And to put your money where your mouth is, it offers free medical care to all employees, including eye care and dental care. Now that you understand why having a vision statement is important, let's look at how to write one that will inspire your employees and have a positive impact on your company. Here are some tips:
- Start by jotting down all your ideas and then boil them down to the essentials.
- Keep it simple, memorable, and inspiring.
- Avoid technical terms and jargon.
- Use the present tense.
- Seek clarity instead of trying to write something catchy.