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What is a Vision Statement

Running a business is no joke! Effectively meeting the needs of your team and your customers, while managing your bottom line, can be a tough balance to strike.

The good news is that a clearly defined purpose goes a long way to structuring your company for success. Many new companies have mission statements, but fewer seem to have vision statements. How do you differentiate your mission vs. vision statement, and why the heck do you need both?

What is the Difference Between Vision and Mission Statements?

Mission and vision statements serve similar, yet distinct, purposes. Both set the stage for business success, especially when used in conjunction with one another.

What is a Vision Statement?

Vision Statement Definition (per Wikipedia): An inspirational statement of an idealistic emotional future of a company or group.

In other words, your vision statement is the place for you to dream. It defines where you’re headed and what you want to become.

Among many other “big picture” ideas, your vision statement can include:

  • Overarching goals
  • Dreams for your company
  • The broadscale problem your company addresses
  • Who you want to inspire

What is a Mission Statement?

Mission Statement Definition (per Merriam-Webster): a statement of the purpose or goal of a business or organization.

In essence, your mission statement clearly defines and describes the way in which you execute daily operations. A mission answers the following questions:

  • What do we do?
  • Who do we serve?
  • How do we do it?

Benefits of a Vision Statement

There are many benefits of a vision statement, from the overarching and theoretical all the way down to the nitty gritty, nuts and bolts stuff you do every day. If you’re just starting your business, we hope you are beginning to see how a vision statement will be helpful.

But what if your business is already successful and you’re happy with where things are? You may be thinking, “Why do I need a vision statement at this point? We’re all good!”

Regardless of where you fall, here’s where a vision statement can help:  

  • Guidance Over Time: Keeping your eye on the prize isn’t always easy, and it’s not uncommon for a business or business owner to lose their way every once in a while. A vision statement provides a stable framework to both work within and guide you back if you find you’ve veered off course.
  • Inspiration and Growth: Building a successful, sustainable business requires that you (and your team) remain inspired to innovate and grow. Vision statements are perfect for this purpose! Because they include broad, lofty goals, there is usually no limit to the ways in which those goals can be achieved.
  • Brand Building: Let’s not forget the importance of branding, here! Your company’s unique brand identity speaks to your mission and vision as well as how you execute upon each.

How to Write a Vision Statement

First Thing’s First

Before trying to flesh out a meaningful vision statement, take some time to list your core values and beliefs. Start by considering the following:

  • What characteristics – in yourself, in those around you, or in a business – are important to you?
  • Where do you draw the line, ethically?
  • What makes you happiest?

Write down anything that comes to mind right away. Then take a peek at a comprehensive list of values and beliefs to make sure you didn’t miss anything.

You’ll have a much easier time developing your vision statement if you have a good grasp on what, exactly, is important to you.

Crafting a Vision Statement

Since your vision statement is a big picture view of your overall goals, this isn’t the place to get specific. This is where you capture your hopes and dreams into one or two sentences. NBD, right? Don’t worry. It doesn’t have to be daunting. Start with the questions below.

  • In an ideal world, what would your company be known for? This one is pretty theoretical, and it will probably tap into those values we discussed above. That’s great, especially if your company exists because it’s your passion.
  • What are your ultimate goals for your company? Here’s where you’ll get more objective. Do you have a financial goal, a goal related to your customers, a goal related to the size of your company? While you probably won’t use the goals themselves in your vision statement, keeping them in mind will help you craft it.
  • Who are your stakeholders? These are the people for whom and with whom your company exists. Stakeholders can include team members, customers, investors, or even the community at large.

Our suggestion is to write out your answers without thinking too hard or censoring yourself. Tip – if writing isn’t your strong suit, record yourself answering the questions, and then transcribe the recording afterward.

Once you’re confident you’ve captured it all, read through and pare down from there. Combine sentences, remove redundancies, and consolidate similar ideas until you’ve got yourself a few sentences you believe truly capture where your company is headed.

A Note on Mission Statements

Once you’ve crafted a kick-butt vision statement, it’s time to work on your mission statement! Aim for a single sentence that incorporates the “who, what, and how” of your business. If you’re stuck, here are 8 Questions to Consider When Writing a Mission Statement.

Mission and Vision Statement Examples 

Sometimes starting from the end and working your way backward can help. If after reading this you’re still a little unsure, check out these examples from well-known companies.

Notice that they each capture the company’s distinguishing culture and values. Additionally, you’ll see the distinctive ways in which these companies position their mission vs. vision statements. Simply put, there’s no right or wrong, here. Each statement is as unique as the business it represents.

Envision Yourself with Hungry Media

Regardless of any operational changes that may (and will!) occur, a solid mission and vision statement will help keep your business on track and headed towards the future you have envisioned. It’s worth the time and effort to develop both.

Need help crafting a vision statement? Have a clear vision and ready to execute? We’ve got you covered either way, and we can’t wait to meet you! Contact us today to get started.

contributed by Melissa Lucas, senior staff writer

Writing a Mission Statement

Writing a mission statement is a must for business builders, app developers, content creators and any other entrepreneur. However, slowing down to brainstorm about one simple sentence doesn’t always seem like a great use of time, does it?  But while a mission statement is a single sentence – it’s certainly far from simple.

How to Write a Mission Statement

What is a Mission Statement?

In short, the purpose of a mission statement is to define your company and set it apart from the rest. It describes why you exist, your goals, what you will provide your stakeholders, and how you plan on achieving it all. That’s a lot of pressure to put on one little sentence, huh?

Why Should You Be Writing a Mission Statement?

That is a lot of pressure to put on one little sentence. Which is exactly why the importance of a mission statement can’t be understated. Creating a mission statement is a process. It isn’t something you throw together in a few hours and slap up on your beautifully designed website.

Good mission statements will serve as your compass. A well thought out mission statement guides your decision making. It helps you focus your resources. It serves as a starting point for your branding. It provides a framework for your employees to work within.

So, yes. A mission statement is a big darn deal! And, yes. You should definitely be writing one. But how, exactly, do you do this?

Questions to Consider Before Writing a Mission Statement

Learning how to write a mission statement for a business takes time and perseverance. To get started, sit with the questions below and document your answers. It’s important that your mission truly encompasses the spirit of your business, so don’t rush this part.

What are your beliefs? 

To what do you hold true? What colors your view of the world? The best mission statements are built upon this foundation. A sentence to describe each of your top 3-5 beliefs will do.

What do you value?

Think about what makes you choose to spend your money on one product over another? What makes you gravitate towards certain people? This is a great way to identify the attributes you value most. Try to pare your values down to 1-2 two words, each.

Why does your business exist? 

What is your goal? Take a holistic view of your beliefs and values to answer this one. Of course, most businesses aim to make money. But what’s the reason you chose to make money in this particular way? That is your why.

What action word best suits your company? 

Dedicate, inspire, awaken, nurture, champion, refresh. Your options are endless. If you don’t identify with one word right away, try starting with a broader statement and whittle it down to a single word from there.

Who is your ideal customer? 

Envision them actually deciding to use your product or service. Why do they want it? How do they find you? What benefit will you provide? Keep this person in mind as you draft each version of your mission statement.

What makes you special? 

Why should a customer choose your business, specifically? Do you provide incredible value, the best customer service in the world, the most relatable content? What sets you apart from the rest?

How do you serve your other stakeholders? 

Describe exactly how you want those involved in your business to feel about you (and their work). According to a 2017 study, mission statements are more effective when stakeholders other than customers are considered, too.

How will others perceive your mission statement? 

This will inform the words and tone you use to craft your business mission statement. It also provides a great starting point for the revision step, below.

How to Write a Good Mission Statement

Once you’ve spent time considering the questions above, you can begin creating your mission statement. While there’s no “official” checklist, there are a few logical steps you can follow to guide you through the process.

  • Get it out. Write down, in paragraph form, exactly what you want your mission statement to convey. Include the answers to the questions above as clearly as possible. Don’t worry about word count yet. Just get it out there.  
  • Collect feedback. Have others read your draft. Ask them questions. How does it make them feel? What meaning does it convey? What could make it better? This isn’t the time for you to talk. Just ask the questions, listen to the answers, and take it all in.
  • Revise. You may need to revise and collect feedback a few more times before this first statement feels like a true expression of your mission. Don’t move on until it does.
  • Use a formula. Rewrite what you’ve got to fit this formula: Goal + who + how = mission statement. 
  • Collect more feedback. Ask the questions again. You want to ensure sure the change in structure hasn’t changed the overall perception of the statement.
  • Revise, again. Same as above.
  • Pare it down. Get out your red pen and start editing! Aim for a maximum of 20 words. Yep, 20! Get creative. Use a thesaurus. Research other mission statement examples for inspiration.
  • Walk away. Give your brain a break. Take a day or two to clear your mind. This will give a fresh perspective before you dig in again.  
  • Rinse and repeat. Continue to revise and seek feedback until you’ve got it right.
  • Use it! Take advantage of all that hard work. Allow your mission statement to guide you from here on out.  

Need Help Writing a Mission Statement for Your Business?

A good mission statement lays the foundation for business success. If you find yourself stuck, want to make the most of your existing mission statement, or simply need help working a mission statement into your marketing plan, reach out! We’re here to help and would love to be a part of your journey. Contact us at info@hungrymedia.com to get started!

contributed by Melissa Lucas, senior staff writer