How to Write a Vision Statement for a Business

A vision statement is an important part of a successful business.

Writing a vision statement is an important part of running a successful business. The goal is to put down on paper what your business will look like at least five years into the future. A vision statement will vary in length, but will usually fall between one and three pages, and be included as part of an overall marketing plan. It is intended to act as a guide for management and employees to stay focused on their goals as the business moves forward.

Instructions

1. Write out a thorough list of the products and services your business will provide. Beside each item, write a brief description of the product or service, and how it will benefit your customer's lives.

2. Write a complete list of the target markets for your products and services. Include their gender, income, professions, hobbies, and spending habits. Keep in mind this is a vision of what you want your business to be, so don't be afraid to be specific.

3. Write down details about the location of your business. Be thorough, and include the size of the facility, how it will be furnished, the number of parking spaces, and any other details you find important.

4. Write down your vision about how much money your business will be making. Include sales figures, and different segments of the marketplace you have penetrated. Write out a competitor list and describe their strengths and weaknesses, as well as opportunities you will have to overtake them.

5. Write down how many employees you will have, any perks and incentives you will offer, and the overall feeling they will have coming to work for you each day.

6. Write down how your business will be looked at and thought of by your customers, your competitors and in the community. Describe the level of respect your business name will carry. Detail how comfortable people will feel recommending your business to others. Be specific.

7. Write out each step in paragraph form. Include a heading for each section. Write clearly and to the point, but be thorough when describing your vision for the business.

Tips & Warnings

• Make your vision statement big but realistic.

• Write in the present tense, as if it has already happened.

• Communicate your vision to everyone involved in company growth.

• Ask yourself how a business like the one you've described would act on a day-to-day basis to reach the vision.

• Use your vision statement to stay on track and help motivate on days it is needed.

• Begin with the end in mind, and work backwards.

References

• Ten Step Marketing Plan
• Iowa State University