Running a business takes hours of planning and execution. It requires creative thinking, innovation, and strategy. Running a business can be pretty amazing, but it’s difficult to see success without a strong, overarching mission and vision for success.
Your mission and vision are like the vital organs of your business, but many business owners often devalue their importance or get confused between the statements. Although they work hand-in-hand, they each hold a distinct purpose. We want to focus on the difference between your mission and your vision.
To unite people, your business must have a purpose that inspires your audience. The combination of your mission, vision and values provides a base for your organization that works to ensure all aspects of your company are aligned and that every single stakeholder is on the same page as to where the company is headed.
Let’s start with the mission.
Your mission defines the company’s business, its objective, and its approach to reach those objectives. Essentially, it’s the map to achieving your end goal – your vision. Your mission statement will change as your objectives and goals progress, so you will likely update this statement every 1 to 3 years. In this statement, you want to clearly communicate to all stakeholders, including customers, employees, shareholders, etc., what value you are offering and how you will ensure they receive this value.
Now, let’s discuss your Vision.
Your vision statement describes the desired future position of your company. It’s your ultimate end goal. Think of it as if you were glimpsing into the future, and your company has achieved every single thing you could have ever imagined… What does this company look like? What purpose does it serve the world? This is your vision.
Putting them both together.
Although the statements are distinct and have different purposes, one will not work without the other. Whether you are just starting your business, or you have years of experience under your belt… your mission and vision are crucial elements of your business. To achieve success, you and your stakeholders must clearly understand your destination and how to get there.
Together your mission and vision create a complete map of your desired destination and the route to get there. When executed successfully, these two little statements act as one of your most powerful business tools.