If you’re a young entrepreneur, have you prepared your vision, mission, and value statements yet?
If not, then you skip the most important part of launching your firm.
An organization’s mission, values, and vision set the overall direction of the company. Like any other typical company, Entrepreneurship also needs a specific vision and mission. You may have a conception that vision and mission just need for large established companies. But the fact is without an overall direction an entrepreneur will get lost quickly. Especially in this constantly changing environment, it’s a must-have requirement. In this article, you will learn how to write entrepreneurship vision and mission statement and why entrepreneurship is important to economic development.
Why mission and vision statement are so important for entrepreneurs?
To entrepreneurs, their business venture is like their baby.Developing mission and mission statements is a core thing of helping your ‘baby’ grows as a unique individual that can distinguish you from the crowd.
Preparing a mission statement and a vision statement needs not only a deep connection to your service but also creativity. Therefore, you may get a profound sense of purpose in your venture, but you don’t articulate your goals your business will likely have a struggling time getting off the ground.
First let me clear what is the main difference of mission, vision and value.
What are Mission, Vision, and Values?
A mission statement tells the organization’s reason for the entity. Also, it describes what it does as well as it’s the overall intention. A business mission statement will support the vision. At the same time, it helps to communicate purpose. More than anything, it gives a clear direction to customer, employees, vendors and stakeholder what you want.
What makes a great mission statement?
A vision statement explains the firm as it would appear in future. When you develop a vision statement of your organization, try to figure out the answer to this question.
If the organization were to success all of its strategic and management goals, what will it look like ten years from now?
“To become the world’s most loved, most flown and most profitable airline”- An excellent vision statement example of Southwest Air. You can use vision statement generator.
A value statement explains the beliefs of the organization and how it should behave. Meanwhile, value is like a compass of a company as well as its employees. However, this compass establishes a perfect standard and guide decision making. As we mentioned earlier, it defines all deeply held principles and beliefs of the organizational culture. Let’s see a values statement example.
“Treat your customers like human beings…” – The value statement of L.L Bean and one of the best vision statements ever.
Mission statement vs. vision statement
When you are an entrepreneur and what to write your vision statement, you have to realize what it is not. Don’t mass up with a mission statement. Meanwhile, the mission statement is mainly present-based and represent why the company exists.
On the other hand, the vision statement is future-based and gives a clear direction to its customer, not for the employees. So we could say mission statement is the company’s main reason for being, what you are doing right now. And vision statement explains where your firm’s going on.
How to Create an Entrepreneur’s Mission Statement
As we mentioned earlier, the mission statement is important to give everyone an idea what is the purpose or identity of an organization. Forbes recommends making following clear questions on the mission statement.
- What do we do?
- Whom do we do it for?
- How do we do it?
While you will answer those answers, you are showing the brand’s personal story. In plain word, a mission statement is more likely a biography of your firm.
How to Create an Entrepreneur’s Vision Statement
Hi entrepreneurs out there, it’s time to write your vision statement. Don’t panic to try it perfect.
The most crucial is to start the understanding by own about your business, what you want to create. First, imagine your organization three to five years in the future, what you want to achieve. And answer these following questions.
- What products do you sell?
- What service do you perform?
- For whom?
- Do you work at home or in an office?
- Where is your business located?
- What will you do in the business?
- What is your life like?
- Are you an owner or a self-employed?
- How much does your business earn?
Besides, while you are preparing the statement, keep the following facts in mind:
Inspire: It should be inspirational in the meantime aspirational.
Not a How To: Technically, the statement should be within one sentence in length and don’t explain how the vision will be achieved.
Ask Yourself: Before everything ask yourself, what you want.
Take Into Account Differences in People: Embrace other people thought and differenced them
with your perspective.
Tips for crafting an entrepreneur’s vision and mission statement
Based on our specialist’s sources’ advice, let’s see a quick recap of what should keep in mind when writing a mission and vision statement:
- Dream big, focus on success.
- For vision statement, aim Project for 5 to 10 years in the future.
- Always Use the present tense.
- Use clear, user-friendly and jargon-free language.
- Align it with the business values and goals.
- Make it inspiring and infuse it with passion
- Have an organized plan to communicate the firm’s vision statement to the employees.
- Be prepared to take time to the vision you establish.
Some inspiring vision statements
A vision statement explains the outcomes you expect as well as a guideline light that can drive your business. That’s why makes the statement clearly states. Now, look at some educational mission statement.
“To create a church that unchurched people love to attend”- vision statement of North Point Church.
What is apple vision statement?
“Man is the creator of change in this world. As such, he should be above systems and structures, and not subordinate to them.”
“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”- Amazon vision statement.