Every successful business owner or leader needs a Vision Statement – a clear, expressed vision of where their business is going. It’s the intended destination, and without it you’ll never be able to measure your progress.
To begin clarifying your Vision Statement, answer these questions in specific, finite terms:
The Vision Statement defines your company’s overall goal and the methods you plan to use to achieve –it’s major products or services, your target market and what you want your organization to ultimately become. Coincidently, you can write vision statements for each division or department. The unifying idea is that each department’s vision supports the master vision of the organization.
Why do you need a Vision Statement? A vision statement will help you:
Yes, your vision statement should motivate you and your employees. So it should include words or phrases that will inspire you and the people that work with you. In the end, your vision statement should empower your entire company to work towards the goals you have set out in the statement itself.
Here’s an easy template that will get you started in developing your Vision Statement. Fill in the blanks in the following sentence:
“Within the next ____ years, grow _________________ (your company name) into a successful _______ (local, regional, national, international, other) $ ______ company, increase our net revenue from ____% to ____% and grow the value of the company to approximately $_________.”
Jeff Prager has founded, run, grown and sold dozens of businesses, small and large. Along the way he's developed the 7 Key Numbers that drive revenue in every business - the core of Cash Flow Engineering. Jeff is an author, speaker, consultant, and business coach, and an adjunct professor of economics at UC Denver.