How to craft a corporate vision statement

1. What is a vision statement

A vision statement describes your company’s desired future state in the coming years—commonly, three or five years out. It says what your business will look like if it achieves its goals.

It should be clear, concise, with a high-level focus. Aim to be realistic, but also inspiring.

A single sentence is the ideal length. A vision statement can also change as a business evolves and grows.

2. What is not a vision statement

Vision statements are often confused with mission statements, but they’re not the same thing. A mission describes who your company is, what it does, why it exists and for whom. A vision statement often changes with time, while a mission statement generally doesn’t.

For example, your vision could be to become Canada’s leading retailer of art supplies. Meanwhile, your mission may be to equip artists with top-quality supplies at the best price.

A vision statement is also different from your business goals. The latter express your vision using a few concrete figures. Using the example above, your goal may be to achieve $10 million in annual sales in five years. A vision is also not the same as a value statement, which describes the culture you have and aspire to and how you want to act as a business.