What does your business vision say about you?

Make it poetic, make it practical. A business vision says a lot about you. Though it is not always the first thing a client learns about the company, it can be impactful if given some thought, and leave the wrong impression if it is slapped together.

You may say, “Who cares?” Why should I spend time formulating this statement? Who reads it?

Compare:
"By 2020, nobody shall be seriously injured or killed in a new Volvo". 
And
"At BLOCKBUSTER, diversity means valuing differences. It's a corporate value that must be continually developed, embraced and incorporated into the way we do business."

Perhaps a major difference between growing and bankrupt businesses can be wrapped up in a simple statement?

A business vision makes you unique. It says a lot about a company’s foresight, as well as its sense of social responsibility to customers and non-customers. Volvo’s vision, for example, is not only a statement about the company’s goal, but hints at the company’s strategies to better understand human behavior when we are behind the wheel of a car, and to work with the partners who will be instrumental in integrating safety technology into their vehicles.

A business vision is something as simple as one sentence, or detailed long enough to fit into a few paragraphs, it says a lot about a company’s confidence and is like the disposition of the company in the marketplace. Dr. Susan Reid, small business start-up expert, says your business vision:

•  sets the tone for your company
•  defines the future
•  inspires, energizes, motivates
•  defines success

That is also a good reason to always make it visible to employees. A vision statement is a subtle reminder of purpose in the workplace--if ever there is a common end goal, it is defined by the vision.

Deciphering business vision from mission is often confused.
Simply, business vision defines a future outcome; mission is why you exist.
Some examples:

Apple:
Vision: “To make a contribution to the world by making tools for the mind that advance humankind.”

Mission: “Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork, and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced its magical iPad which is defining the future of mobile media and computing devices.”

IBM:
Vision Statement - Solutions for a small planet 
Mission Statement - At IBM, we strive to lead in the invention, development and manufacture of the industry's most advanced information technologies, including computer systems, software, storage systems and microelectronics.   We translate these advanced technologies into value for our customers through our professional solutions, services and consulting businesses worldwide.
A mission statement is also sometimes given in the form of a “Our promise.”

What can a business vision do for you?
In the last post, John Furlong’s vision throughout the bid process and the planning of the Vancouver 2010 Olympics was to deliver Olympic Games that would touch the hearts and minds of every Canadian. Whenever any roadblock showed itself, Furlong returned to this vision to be able to make the right choice that would not hinder achieving this one goal.

Elements of the business vision.
There are no set rules, but there are features that make one vision superior to another.

Make it concise. If it is too long, it is not concise enough, and may be seen as watered down and unfocused.
For example: “We plan out strategies to sustain growth for the years to come, our core values of Caring, Global Teamwork and Continuous Improvement will continue to drive our future initiatives.” Colgate-Palmolive’s vision doesn’t resonate.

Leave out the corporate jargon. People, including employees, don’t want to be sold on how the business foresees the future. In this case, like most, actions speak louder than words. The business vision is as much a reminder to business owners and employees about why they are at work every day, as it is an outward facing statement.

It is not necessarily attainable. Both Apple and Volvo state goals for the company to achieve with their product, but they are not necessarily attainable. Stating something that may not be attainable shows the company’s confidence that they are able to overcome odds.

Apple’s vision is subjective. Whether or not having an iPhone glued to our ear is going to advance humankind is subjective.

Connect it to your service offering, or something you are helping your clients to achieve. Incite, an Edmonton-based marketing company, has the vision: “To help leaders build.” With this vision, clients have a sense of their true capability and employees are reminded of their purpose to produce marketing solutions of leadership caliber.

Don’t be afraid to revisit it or paint it on your wall. It is a way to keep daily business decisions aligned with your long term vision.

Guess who?
What companies do the following visions belong to?

“Our vision is to be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.”

“To organize the world’s information and make it universally accessible and useful.”

“Affordable solutions for better living.”
(Answers will be in next week’s blog post.)

Having trouble getting started? Start with this basic formula:

“Five years from now (your business name) will become a successful (type of company) providing (product, service offering) to (these clients or customers).”

Then, add your own poetic spin.