
What is a Vision Statement, really?
It’s a picture of ‘where we could be’ that puts a stake in the ground and inspires and pushes us.
If we became this one thing, we would know we are successful and completely satisfied.
A Harvard study that looked across 20 industries showed that companies with a shared vision statement and a strong corporate culture based on shared values saw four times the revenue and seven times the job creation – stock prices grew twelve times faster and profits 750% higher2.
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Vision statements are powerful, and that’s why we want to make sure we’ve got ours right.
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Ideally, our vision statement is:
• Qualitative (how good it is) and quantitative (measurable).
• Motivating and enticing to get people focused.
• Short, simple (no jargon), specific and aligned to our business values – the values we want our people to exhibit as they perform their job.
• Ambitious enough to be exciting but not unachievable.
If we think of our vision statement as the compass that prevents us from getting lost at sea, it will help us tunnel our vision towards the outcomes that matter the most to our business.
Every single thing that we include in our strategic planning and that we implement in our business from this point onwards can be measured against the vision.
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At every fork in the road, we can be asking: Will what we do now bring us closer towards our vision or further away?
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A vision statement should:
• Cover 5-10 years or more into the future
• Be emotional and motivating for all employees and partners to understand and rally around
• Describe the dream we have, what we feel, hear, think, say or do
• Be written/said in plain words and may already be a common phrase within the company
• Say a lot in a few words
• Be a balance between aspiration (stretch) and reality (achievement)
• Be both extrinsic (based on external reward) and intrinsic (because it pleases us to do so).
What we need to watch out for:
• It’s not a positioning statement
• It's not a mission statement
• It shouldn’t be something we’ve already achieved
• It’s not the ‘how’ – not a strategic statement
• We need to be single-minded, keep tightening it, and not include everything!
While mission statements among similar businesses may be similar, vision statements should be genuinely different. So although a vision statement is not meant to be a positioning statement (how we position ourselves against competitors), maybe we want to be more inspirational.
hOW TO WRITE ONE:
Let’s deconstruct what goes into a truly inspirational vision statement:
Step 1 – The outcome
Step 2 – The twist
Step 3 – The quantification
Step 4 – The human connection
Step 1 – Define what we do as an outcome.
What is it we actually do?
At Blue Bay, we develop 360° brands. However, if we were to define this as an outcome, what we actually do is solve brand managers’ problems/challenges.
Step 2 – Define what unique twist we bring to the outcome above.
Many design agencies develop well-rounded brands, so what is it that we do differently to everyone else to make brand managers’ lives easier? Our unique selling point?
We help to facilitate positive change from within the business. We don’t just do design, or advertising, or copywriting, or marketing or strategy. We do it all. But we handle only a few clients at a time, and we become part of their business. So much so that we become strategic advisors, coaching the business to make the move towards becoming a B Corporation.
Step 3 – Apply some quantification
Who are we actually talking to? Everyone? Or specific people within specific types of businesses?
We’re actually very selective about who we work with. It’s not the industry category so much as the ethics, values and culture of an organisation that we look for.
Step 4 – Add relatable, human ‘real world’ aspects.
This is a bonus, not a necessity, but it does make for a vision statement that people connect to. We’re looking for something that conjures up a solid mental image.
- A greater chance of success for every brand we touch.
- We put more time in the hands of the brand managers we work with.
- The brands we work with meet their full potential.
So putting it all together:
Our vision is to facilitate positive change in the world by helping ethical brands meet their full potential and succeed.
Need help writing your vision statement? Let's talk.
Reference: Kouzes JM and Posner, BZ, ‘The Leadership Challenge’, 2002