Small Business Vision

Where do you want to go with your Small Business?

Your Small Business Vision is a view of the future direction of your business. It is the guiding concept for what the business will become.

Examples of Vision Statements some well known companies

Coca Cola's Vision Statement

To achieve sustainable growth, we have established a vision with clear goals.

Profit: Maximizing return to share owners while being mindful of our overall responsibilities.

People: Being a great place to work where people are inspired to be the best they can be.

Portfolio: Bringing to the world a portfolio of beverage brands that anticipate and satisfy peoples; desires and needs.

Partners: Nurturing a winning network of partners and building mutual loyalty.

Planet: Being a responsible global citizen that makes a difference.

McDonald's Vision Statement

"McDonald's vision is to be the world's best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer in every restaurant smile."

Developing your own Vision Statement

To craft a small business vision statement that means something and can provide guidance for anyone who works in or with your business you need to align your vision with how you currently see your business.

If you have already developed a Mission Statement, you will have a clear picture of what you are in business to do. If not, I suggest you go back and do it now. By combining your mission with your business values and the value you add with your business model, you should be able to begin to develop a vision of where you would like your business to be in 5 - 10 years.

If you have trouble working out what the 'value add' of your business model is, it might pay to take another look at it. Your business model should be a description of a problem that your business intends to solve or the value that will be provided for customers and how you intend to do so profitably.

Is that what your business model is?

Putting it all together

Make a list of the important points in each of the documents mentioned above.

• The value you provide for your customers or the community (the business model)
• The reason your business exists (your mission statement) and
• the values you use to operate your business (your business values).

Rearrange the points in your list into a sentence, read it out loud and then write it again. Try to avoid excessive use of meaningless phrases like 'best in class' or 'superior'.

If in doubt, do an 'opposites check' on your sentence. Does it sound really silly if you substitute any of the phrases you used if you use the opposite? Can you imagine anyone aiming to be 'worst in class' or 'inferior'? If any of your phrases yield silly opposite phrases like this it is probably not good idea to use them.

When you are happy with your small business vision, I suggest you take it out for a spin. Try it out with a few of your friends and acquaintances, show it to your suppliers or a few customers and ask what they think. If it gets the thumbs up all around, your vision statement is all done. If not, take the time to re-visit your statement and incorporate the feedback you have received.

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