In a sense Vision is a beginning for a startup journey. But it’s also the ultimate goal where your company wants to be in the future. Vision is not some short-term goal which you can achieve in a matter of months. Sometimes it’s for a lifetime unless you change company’s core idea, or it merges with some other larger corporation.
Vision statement is not mission statement. Mission is related to goals and services while vision statement includes values, long-ranged purpose, and core ideology of a company.
Mostly founders develop the Vision statement of their company. That can be based on some inspiration, motivation, value of service or any long-term goal. For example, Oxfam has a vision statement: “A just world without poverty”. Oxfam portrayed it through words and actions. Because, this is not just a statement of Vision, it has to be integrated with what you do, value, and want to do in future. While there are chances shareholders in a company may sit together to define vision and goal statements for an organization.
There are strong reasons to have a vision statement for a startup or a company. First, it clarifies the future path for your company. As an owner of your company you need to make sure employees, and customers know your vision statement. This will create trustworthiness between company and its target audience. Employees would know the course company will be taking in the upcoming years.
Secondly, it helps in building a culture of growth where people know that every project that they ‘ll be doing is leading towards the ultimate realization of vision. Moreover, in times of crisis one of the things that can hold people together in a company is attachment with that powerful dream they are working for. Setbacks won’t beat them at mental level.
Vision will give all the goals of company a sense of greater purpose. In modern motivation studies it is argued that more than capital incentives it’s the sense of purpose which accelerates performance of employees and boost their motivational level. (Dan pink’s ted talk)
At notional level, the concept of Vision seems like a dream, and vague. But this mysteriousness holds power in selling your product, which is the last step of this startup phase series. Over the course of time, people identify with your product and your company. An idea of entitlement is also planted in their minds as well.
Let’s talk a little bit more on academic grounds.
According to Harvard Business review, in a world where companies change their tactics and update their systems except their well-rooted purpose and core values linked with their vision. This model has two parts: Ideology and future-outlook based on vision. Ideology includes purpose of company to exist and values which are to be defended through thick and thin. Secondly, future-outlook is centered on your goals, and your vision will give them a meaningful direction.
Guidance for creating vision for your Startup
By now, you have understood the meaning of vision and its significance. Following points should be kept in mind while crafting a vision statement for your startup. David Bailey coaches us in this regard.
- Selling a high-quality service: Yes, you can base your vision on a unique service you ‘ll provide to the target consumers out there. Like at Change Mechanics, the vision is we deliver value.
- Current or Developing trends: Vision statement can be jotted down on the themes of developing trends in technology, science, and commercial sector. In tech-industry, virtual and augmented reality is upcoming disruptive changes and trends.
- Do Comparison: Sometimes comparison with already established brand’s reputation would give you a head-start in marketing of your product. For instance,” As quick as Careem” for some burger home delivery company.
- Brilliant outcome: An organization can write a vision on the credentials of their product in the present and future scenarios. APPLE’s iPhone X has a slogan, Say hello to the future. They promise of delivering best product with respect to quality, design, and technology both immersive and innovative in nature.
- Expanding customer base: In startups a company may have small target audience, but it wants to expand in future. Vision statement can be derived from that as well. For example, a transport provider is initially operating in Rawalpindi and Islamabad may have ambitions to cover whole Pakistan. Their vision could be on the way to you soon.
- Against the tide of times: Devising a vision statement against the current flair in the market can also be catchy and attractive to customers.
- Personal touch: A vision is not restricted to above mentioned tips but be flexible to include your personal uniqueness and flair to it. The vision statement can include founder’s personal experience as well. Some ingenious person may like, only for the truth seekers. However, this is suitable only for the knowledge platforms.
Let’s demystify this Vision in tiny steps further.
Now to make your vision statements stick-to- mind type you need to put an effort in crafting it, making it brief, and memorable. Successful companies have a habit of making clear and bold vision statements. Disney has a vision statement encapsulating the world entertainment industry, “to be one of the world’s leading producers and providers of entertainment and information.” Their content writer, directors, producers, and actors they hired for different movies make sure to create a product for a world stage audience.
Try to answer these questions to get an idea about the vision of your company.
Questions leading to answers:
- What SWOT analysis can help me with?
- What is the ultimate destination in my mind for this startup?
- Am I solving any issue related to people or industry?
- Is it worthy for me and potential consumers?
- What is the significance of it to me and value for others?
- Why I am doing this? (this is quite powerful to begin with)
Vision is not some literary idea, but it has the capability of guiding a company going through constant change and regular update, what not to modify and which is valuable beyond capital motivations.
To enjoy the maximum impact of vision in the growth of your company, you need to communicate it with utmost clarity with key shareholders, employees, and consumers. Moreover, helping, and guiding staff of your startup to align their attitudes, and behaviors in-line with the goals, this will strengthen the foundation of vision statement.