Your Vision Explains Where You Want to Go
When many entrepreneurs create their company they may have a vision but they oftentimes do not write this vision down. It is expressed or even a goal among the initial people in a company. As the company grows beyond a small group that you can feed with one pizza the chances of someone connecting with something that is in your head becomes more of a challenge.
A vision statement tells everyone that is working for you what you are aiming to achieve or possibly what a new future will look like when your vision is achieved. Vision statements have also been shown to provide 28% higher engagement levels among employees. (Folkman, 2014). This additional engagement can help a company grow or if left to chance it could also be a risk in achieving your goal.
Examples of Vision Statements:
Alzheimer’s Association: A world without Alzheimer’s disease.
Teach for America: One day, all children in this nation will have the opportunity to attain an excellent education.
Creative Commons: Realizing the full potential of the internet – universal access to research and education, full participation in culture – to drive a new era of development, growth, and productivity.
LinkedIn: Create economic opportunity for every member of the global workforce.
Disney: To entertain, inform and inspire people around the globe through the power of unparalleled storytelling, reflecting the iconic brands, creative minds and innovative technologies that make ours the world’s premier entertainment company.
To create your vision: Many people when looking at developing a vision start with a simple premise, to look at the future and jot down a few words. I would like to propose that creating a vision is an opportunity to explore where you want your company to go and like many things in business your vision marks a point that people are aiming for and so it needs to be correct.
Before building a vision if at all possible capture the input of stakeholders and customers. Understanding what people say now will begin to provide a framework for what needs to happen in the future.
Porter’s 5 forces will give you an initial snapshot of where you stand today:
Potential of New Entrants into the Industry
Power of Suppliers
Power of Customers
Threat of Substitutes
Next, if we were able to jump 5 years into the future what would the future look like and what would your company be delivering. Are you targeting eliminating disease? Helping someone achieve a goal? Making the world better in some way?
Your Vision Statement needs to be inspiring and as short as possible. The main reason why is that you want people to remember it and for it to be the reason they come to work.
Once complete, your vision statement needs to be communicated, communicated and communicated. Verbally, in presentations and posted on the walls so that they can reference it along the way.
Say, Do Factor Your say do factor is the amount that people can see what you say being represented in what you do. Your vision must be something that every employee can clearly see being demonstrated in what the executive team is investing in and doing. If your vision is to deliver a product into the healthcare market but 100% of the activities that the executives discuss are focused on products outside of healthcare your employees will feel it. You need to ensure that the majority of the efforts discussed and focused on by the executive team are to enable the delivery of the vision.