There is usually a lengthy list of things you need to consider when starting a business, and if you don’t manage them properly, the excitement can quickly get overwhelming. How does one stay inspired and on the right track when starting out? You guessed it: your vision statement.
Think of your vision statement as your north star. Without it, you’re just wandering around, hoping for the best. You’ll have a tough time remembering why you started a business in the first place and what you’re working to accomplish.
Think about the flood of feelings, questions, and decisions in your brain when you’re starting a business: Do I have enough money to support my family? Am I making the best decision? What if it doesn’t work out? How do I build a thriving business? Why isn’t my business growing? What can I do to get better results?
Your company vision statement serves as a reminder that you need to keep going. It has the potential to keep you motivated, especially when it’s time to take a big risk.
What Is a Vision Statement?
Before you check out vision statement examples, you first need to know what is a vision statement.
A vision statement is like a photograph of your future business, which gives your business shape and direction. It describes what the founder wants the organization to achieve in the future; it’s more about the “what” of a business. It differs from a mission statement, which describes the purpose of an organization and more about the “how” of a business.
If you were to take a photo of your future business now, what would it look like? What do you want your business to be recognized for one day?
You need to have a crystal clear vision when you start out, otherwise, you can get easily lost in deciding the best way forward. When you are making strategic decisions for your business and even daily operation decisions, your vision statement will give you the inspiration and targeted direction you need.
The Importance of a Vision Statement
Without a vision statement, your business will lack the motivation to keep going. The more specific and clear you are, the better your chances are of seeing your vision turn into reality.
The importance of a vision statement cannot be overlooked; not only does it provide long-term direction and guidance, but it also gives you the inspiration and the energy to keep going when you feel lost.
Vision statements can be a very useful tool for keeping you on track throughout your business journey. Here are some of the ways they can help you.
It allows you to focus on long-term success
During the beginning stages of building your business, you may have a tendency to focus on what’s right in front of you, which can sometimes prevent you from looking ahead of that goal. A vision statement can remind you of your ultimate goals for long-term success.
It supports you when you’re making important decisions
A vision statement can help you guide your decisions and actions. It can help you stay focused and on track, especially when you’re tempted to make short-term choices in order to ensure immediate growth.
A company vision statement can remind you of what you want to achieve as you make decisions, such as business tools and investments like advertising or a new computer.
It can help you attract and retain employees
A vision statement can help you attract and retain employees who are passionate about your vision. Employees who believe in your company’s mission will feel more fulfilled and inspired.
It can help foster brand loyalty
A company vision statement can help your brand stand out and get noticed. A good vision statement will capture the essence of your brand, inspiring your customers as well as colleagues.
Additionally, customers can feel a deeper connection to your brand. They will be more likely to recommend your business and stick with you through the ups and downs.
How to Craft an Inspiring Vision Statement
1. Dream Big and Use Clear Language
An inspiring vision statement should inform a clear direction and priorities for the organization while challenging team members to grow together. Based on our expert sources’ advice, we’ve got some great tips for you:
- Imagine what you want the business to be like in five to ten years.
- Infuse the business’ values in the statement.
- Make sure that the statement is implying a clear focus for the business.
- Write your vision statement in the present tense.
- Use clear and concise language.
- Ensure the statement is easily understood.
There are many different types of vision statements and there is no wrong or right way to do it. The most important thing is to resonate with it. It will always inspire you and give you a clear targeted direction.
2. Get Inspiration From Successful Companies
Having researched a number of successful companies’ vision statements, I’ve shortlisted 20 good examples for the new startups:
To be one of the world’s leading producers and providers of entertainment and information.
A just world without poverty.
To create a better every day life for the many people.
To be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online.
To help people and businesses throughout the world realize their full potential.
To establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow.
To be the company that best understands and satisfies the product, service and self-fulfillment needs of women—globally.
8. Honda (1970s VS. Present)
We will destroy Yamaha (1970s)
Serve people worldwide with the “joy of expanding their life’s potential” (2022)
9. Nike – (1960s VS. Present)
Crush Adidas (1960s)
To bring inspiration and innovation to every athlete in the world (2022)
10. Apple (1980s VS Present)
To make a contribution to the world by making tools for the mind that advance humankind (1980)
To make the best products on earth, and to leave the world better than we found it. (2022)
To create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles
Using our unlimited passion for technology, content and services to deliver groundbreaking new excitement and entertainment, as only Sony can.
13. Coca Cola
Our vision is to craft the brands and choice of drinks that people love, to refresh them in body & spirit. And done in ways that create a more sustainable business and better shared future that makes a difference in people’s lives, communities and our planet.
14. United Airlines
To become recognized as an airline where: leaders embrace diversity and inclusion as a business advantage, employees feel highly valued, are actively engaged and are treated with dignity and respect and customers value our inclusive approach to delivering flyer-friendly service.
People use Facebook to stay connected with friends and family, to discover what’s going on in the world, and to share and express what matters to them.
People working together as a lean, global enterprise to make people’s lives better through automotive and mobility leadership.
17. The North Face
Our passion is beyond setting records and achieving fame. For us, it’s all about changing lives, not just our lives, but also the lives of those who inspire us to aim for extraordinary dreams
To give customers a wide assortment of their favorite products, Every Day Low Prices, guaranteed satisfaction, friendly service, convenient hours (24 hours, 7 days a week) and a great online shopping experience.
Becoming the best global entertainment distribution service.
Our VISION, quite simply, is to be: “The World’s Premier Food Company, Offering Nutritious, Superior Tasting Foods To People Everywhere.” Being the premier food company does not mean being the biggest but it does mean being the best in terms of consumer value, customer service, employee talent, and consistent and predictable growth.
The Bottom Line
Remember, always keep your vision statement up-to-date to direct your company’s actions.
Your vision also needs to evolve. Keep your vision statement alive and visibly in front of you, and let it help direct your actions and activities. This is where you get to dream really big and allow your imagination to fly as high as you want.
Don’t hold back, let your creative juices flow, and give yourself permission to explore what is possible for your business.
To your success!
Don't have time for the full article? Read this.
Your vision statement is your north star. Without it, you’re just wandering around, hoping for the best.
A strong vision statement can support you when you’re making important decisions
It can help you attract and retain employees.
Help foster brand loyalty.
When crafting a vision statement, dream big and use clear Language.
Get inspiration from successful companies such as Disney, Ikea and Amazon.
Featured photo credit: Kevin Bhagat via unsplash.com