Create a business vision
A business vision is your goal for what your business will be in the future. It will align with your business goals and aspirations.
Your business vision is the formal way of communicating your business goals and commitments to others. The business vision statement should capture the key elements of what business success looks like to you.
Defining the business vision will guide you while you are planning to start a business and provide a sense of purpose and direction for your staff.
Business vision statements
The purpose of a business vision statement is to:
- define what the business does and why it is important
- inspire and create a sense of optimism about the business for the future.
Consider the following when creating your business vision statement:
- The business why—what is the purpose of the business? Why is the business important? Who thinks the business is important?
- The business what—what products or services does the business provide? What do you want the business to achieve? What do you want the business to look like in the future?
The business vision should be the starting point for business planning. The vision outlines the goals and aspirations for your business.
Examples of business vision statements
Large companies often have grand vision statements linked to large-scale global goals. But businesses of all sizes can benefit from a business vision statement.
Some examples of vision statements from global companies and small businesses with local goals are:
- 'Create economic opportunity for every member of the global workforce.' (LinkedIn)
- 'To accelerate the world's transition to sustainable energy' (Tesla)
- 'There will be a personal computer on every desk running Microsoft software.' (Microsoft's original vision statement)
- 'To create a better everyday life for the many people.' (Ikea)
- 'To build a community of coffee lovers in Rockhampton, by serving the best coffee at the best possible prices.' (Local café)
- 'Our salon will change the way you think about a haircut, and leave you glowing both inside and out.' (Local hairdresser)
Writing a business vision statement
The following steps can help you write a business vision statement for your business.
- Develop your vision (with co-owners or partners), or invite staff, business advisers and mentors to a business vision workshop.
- Start by considering the 'why' of the business. Clearly define why the business matters to staff and customers.
- Consider the 'what' of the business. Clearly define what the business does (e.g. what are the business products and services?).
- Try using our business model canvas to capture all the key points that can help you identify what to include in your vision statement.
- Summarise the why and what into a single statement (1 to 2 sentences).
- Ensure that the statement is clear and concise, written in plain English and easy for someone outside of the business to interpret.
- Implement the business vision across the business. Consider:
- displaying the vision statement in staff common areas
- including it in your code of conduct and other key policy documents
- using it as a tool in staff performance review
- displaying it publicly (e.g. in marketing material and on your website).
- Review and update your vision statement as needed. It can help to test the vision statement with business contacts, friends or at business networks. Respond to feedback and review and adjust the statement as required.
Tips for business vision statement writing
These tips can help you develop a high-impact business vision statement.
- Align it with the broader goals, values and mission of your business.
- Avoid too many inclusions—don't obscure the message or clutter the statement with too much detail.
- Keep the statement short—it should say a lot in few words.
- Ensure that it covers the key purpose of your business.
- Make it passionate, powerful and memorable.
- Ensure that the vision is realistic in terms of resources, capabilities and growth potential. Be aspirational but not unrealistic.
- Use language that is clear, concise and free of jargon.
- Aim to make it inspiring and motivating—it should capture the audience's attention and prompt them to action.
A vision statement should be used across various areas of your business, including any brand development and marketing strategies, as well as part of your staff induction and with customers and suppliers.
Template for business vision statement
Use the following template to help you create a business vision statement.
- Last reviewed: 8 Dec 2022
- Last updated: 20 Dec 2022