What is a Vision Statement
It takes hard work and dedication to become self-dependent. We all make very similar sacrifices to be able to steer our own professional lives and like me, you most likely made these sacrifices in order to build the dream in your head.
Your dream is your vision. You can refine and share that dream with colleagues through a well-crafted vision statement.
The vision statement enables you to detail which direction you want your business to head in. It describes a picture of your preferred future and will follow immediately after the Mission Statement within your business plan. You can read more on Mission Statements, here. Or Business Planning, here!
The benefit’s of planning are obviously countless but my opinion is that a well thought out vision statement will save you time and the possibility of making the wrong decision when opportunities suddenly arise. You can immediately answer questions like:
- Do we hire the expensive senior employee who has unexpectedly become available ?
- Should we offer the discount a client is requesting to win the project ?
Does a “Yes” align with your vision for the business? Why take a punt or tie-up budget on a decision that ultimately doesn’t take you in your chosen direction, because “if you don’t know where you’re going, it doesn’t matter which way you go” said the Cat in Alice in Wonderland.
How to Write a Vision Statement
Your vision is aspirational. It is probably the reason you got into business. It’s about what mark are you trying to leave? Which direction your employees should pull in? When will you know that you got there?
Here are my four top tips for writing a Vision Statement:
- Be clear and concise. A vision statement should be easy to interpret and remember. Try to use impactful words that communicate your SaaS Company’s long-term aspirations. Here’s an example “To make a Finance Director accessible to every business”.
- Think Big but Stay Realistic. Your Vision Statement needs to be achievable, or at least believable. This should provide a sense of purpose and direction. Envision where you see your SaaS business in 10 years while staying grounded. Here’s an example “To be the go-to Finance Director for UK SaaS Company’s”.
- Focus on the Future. The Vision Statement is about what you are striving to achieve, not what you do now. It should inspire development and progress. Emphasise long term impact and the difference you want to make in your chosen industry. Here’s an example “To create a service where the value provided by the Finance Director is greater than the transaction”.
- Align with Core Values. The Vision Statement must reflect your belief’s, culture and values. This must also resonate with your team and audience. Here’s an example “Empowering SaaS businesses with friendly Accounting expertise”.
You might wish to include the market sector and industries you aim to compete in. Which locations? The reputation you’re aiming to be held in?
Wrap Up
Note that neither the Mission Statement (here) or Vision Statement set objectives. Only once the two have been considered can thought be given to short and long term aims.
But the key point to all planning – business plans, vision statements, forecasts – is that it gets you thinking about it. Writing it down gives you and your colleagues something to share and refer to.
So remember to dedicate time and space to set out your vision … “You’ve got to be very careful if you don’t know where you’re going, because you might not get there.” Yogi Berra, former New York Yankee.
By Christopher Grubb. You can find out more about me here.
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I hope the above has helped.
The role of the Finance Director does not need to be a full-time overhead for someone to be committed and make a difference to your business. My aim is to simplify the financial performance, planning and strategic positioning for SaaS and Tech businesses who just want their world to be uncomplicated and thrive.
Please feel free to message me with any comments or questions. Or find me on LinkedIn here.
