Crafting mission and vision statements is one of the first and most crucial steps in building a brand. These statements will guide you and your team in decision-making and in setting goals and creating business strategies for your company going forward. These statements can also provide direction in growing your business.
So while mission and vision statements appear like a bunch of words on a document, it is vital to take them seriously. These statements are essential for organizations, big or small. You can think of them as a way to attract customers and improve sales.
A global study found that customers are four times more likely to buy from a company with a strong purpose and are even more likely to trust the business and recommend it to their family and friends. So articulating your purpose through a mission and vision statement can definitely contribute to your company’s bottom line and help your business grow.
If you are in the process of creating a mission and vision statement, one of the crucial things to remember is that these two concepts are different. This article will discuss what each statement means and how you can write one that resonates with your business.
What is a vision statement?
A company’s vision statement is a brief statement that describes what your business hopes to achieve in the future. It distills your business’s vision for the future in a way that reflects your business’s core values and long-term goals. You can use it to guide your employees to work toward your organization’s greater goal.
What is a mission statement?
A company’s mission statement is closely related to its vision statement. If the vision statement sets forward what your company is trying to achieve, the mission statement sets forward what your business does now, how you do it (core values), and why.
Difference Between Vision and Mission Statements
Mission and vision statements serve as a roadmap for organizations to define their purpose and future direction. The mission statement outlines the organization’s core purpose and values, while the vision statement sets its long-term aspirations.
Vision and mission statements are closely related, which is probably why they are often used interchangeably. However, it’s crucial for business owners to understand how these concepts differ. Mission and vision statements tend to have three significant differences: timeframe, audience, and purpose.
Here’s a look at these key differences of mission vs. vision statements.
- Audience: Vision statements are primarily geared toward employees, interested investors, and other stakeholders. The statement helps them drive their work towards the long-term goal of the business. Meanwhile, mission statements are typically more focused on consumers. But employees can also use them when making decisions.
- Timeframe: This is probably the biggest difference between vision and mission statements. A vision statement describes what a business is building toward in the future, while a mission statement outlines what the company is doing at this moment.
- Purpose: The purpose of a vision statement is to describe the desired future state of your business. It might be to improve societies, communities, or economies. Meanwhile, a mission statement is written to communicate the organization’s purpose to customers.
Mission Statement Examples
1. “To bring inspiration and innovation to every athlete* in the world.”
This effective mission statement comes from Nike, a well-known brand for footwear and apparel. It is concise and easy to understand. And Nike did not just publish this statement on its own. The company explained and justified this statement in its marketing materials.
2. “The mission of The Walt Disney Company is to entertain, inform and inspire people around the globe through the power of unparalleled storytelling, reflecting the iconic brands, creative minds, and innovative technologies that make ours the world’s premier entertainment company.”
Disney’s mission statement is longer than most mission statements, but it clearly encompasses all the fields in which Disney works, including entertainment and storytelling. The statement includes the company’s purpose and core values, which makes it a great example of a mission statement.
3. “To unlock the potential of human creativity—by giving a million creative artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by it.”
This mission statement of Spotify perfectly reflects what the platform is all about.
Spotify allows all musicians, professionals or not, to share their music with the world. It removes the constraints of traditional record labels. They also can earn money through royalties when an ad-supported or premium customer plays their music. On the other hand, fans can easily access their favorite music.
Vision Statement Examples
1. “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.”
This vision statement comes from Amazon, the world’s biggest online retailer. Their goal may sound ambitious and broad, but it’s just appropriate for a massive company. It mentions being the most customer-centric company, which can guide its employees with their work.
2. “To be one of the world’s leading producers and providers of entertainment and information.”
This vision statement comes from Disney. While it uses simple language, it adopts ambitious worldwide goals. Disney is known for its family entertainment and theme parks, but its vision extends beyond what they are known for.
3. Our purpose: to create technologies that drive human progress. Our story began with a belief and a passion: that everybody should have easy access to the best technology anywhere in the world.
This vision statement comes from Dell, a famous multinational tech company. Like the other vision statements, it is also appropriately ambitious. It is also broad enough to cover everything the company is involved in.
Another notable thing about this vision statement is the inspirational goal. Instead of only aiming to sell more computers, the company sought to drive human progress, which apparently will benefit the greater good.
There are many other businesses with incredible mission and vision statements out there. If you need more mission and vision examples to get inspiration from, you can easily find these statements on the website of the brand you love. You can also start with a template for inspiration.
How to Write Mission and Vision Statements: 5 Tips
Now that you know the difference between mission and vision statements and have looked at a few examples, it’s time to start creating your own.
In strategic planning, the vision usually comes before the mission. The vision statement outlines an organization’s desired future state or ultimate goal. Once the vision is established, the mission statement is created to define the organization’s purpose and how it will work towards achieving the vision.
Here are a few tips and best practices for writing compelling mission and vision statements:
1. Clearly define your values.
You can include several concepts in your mission and vision statements, but your core values should always be present. You can determine your company values by thinking about how you would like to interact with your customers, employees, suppliers, and other stakeholders.
2. Make your statement clear and simple.
Avoid jargon or complex language that may confuse your audience. Craft a concise, straightforward statement that effectively communicates your organization’s purpose and aspirations.
Remember, clarity is critical to ensuring that your mission and vision resonate with both internal stakeholders and external audiences. Customers will also relate better to a direct, sincere vision and mission statement that’s easy to understand.
3. State your objectives.
Clearly outline the specific goals and objectives your organization aims to achieve. This will provide a sense of direction and focus, helping everyone understands what they are working towards. Objectives should be specific, measurable, attainable, relevant, and time-bound (SMART), allowing for precise evaluation and progress tracking.
If you’re getting confused about goals and objectives, just remember that objectives focus on what you aim to accomplish daily. In contrast, goals revolve around achieving a more significant business purpose or a less tangible, long-term result. Make sure you consider both when crafting your mission and vision statement.
4. Align your mission and vision with your company culture.
Your mission and vision should reflect the values and culture of your organization. They should inspire and motivate employees while guiding their actions. Ensure that your statements align with the overall ethos of your company, fostering a sense of unity and shared purpose. Consistency between your mission, vision, and culture will strengthen your organization’s identity and reputation.
5. Gather feedback and refine.
A mission and vision statement captures your organization as a whole. So when writing these statements, consider getting feedback from your employees, customers, board of directors, and other stakeholders. Use the feedback you get to refine your mission and vision statement.
Take Your Reputation to the Next Level
In today’s competitive business landscape, establishing a transparent and trustworthy brand is crucial. Mission and vision statements are pivotal in conveying your organization’s purpose and values. But how can you ensure that your statements resonate with your audience and enhance your reputation? This is where Podium comes in.
Podium is a platform designed to help small businesses manage their brand reputation online. You’ll be able to collect feedback from your customers and manage customer experience. The platform also offers a Google Review and Ranking Calculator, which you can use to figure out how many more 5-star ratings your business needs to boost the overall star rating on your Google Business Profile.Improving your GBP (Google Business Profile) rating is crucial for enhancing your online reputation, attracting more customers, and standing out in search results. A higher rating signifies trustworthiness and quality, leading to increased visibility and credibility. It can be helpful in reaching your mission and vision.
