3 Tips on creating your company’s vision, mission and strategy
Creating a vision, mission and set of values for a company is a crucial process that sets the direction and goals of an organisation for a number of years. It also allows you to avoid the common trap of only discussing the progress and performance of the company through a financial lens.
We spoke with Iain Stewart, our Managing Director, to get his top three tips to consider when developing these key elements:
1. Clearly define your vision
Defining your company's vision is pivotal, as it will serve as your north star, guiding your enterprise's direction. To create a clear and compelling vision, first identify what you truly aspire to achieve in the long term (5+ years,) beyond just profits. This is your ultimate, aspirational “destination”; It should be concise and memorable and easily retainable for the whole company.
2. Mission - how you will deliver your vision
Where the vision is aspirational, the mission outlines the fundamental purpose of your company. It should explain why your company exists, what you aim to accomplish, and who it serves including clients, employees and other stakeholders. It's essential to align it closely with your vision, ensuring it's achievable, relevant, and differentiates your company from the competition.
3. Values – your DNA
Identify the company's core values that guide your actions and behaviours. These should represent the non-negotiable beliefs and ethics that drive your decision-making. Be authentic and reflect the desired culture of your company. Your company's values should be the compass that directs your decision-making and helps you to build a team of like-minded individuals working towards the same goal.
One final aspect to remember is that creating a vision, mission, and strategy is an iterative process. It requires continuous evaluation and refinement as the business landscape evolves. Regularly assess your progress, gather feedback, to make necessary adjustments.
Are you clear on your company’s vision, mission, and strategy?
We’re here to help if you need some extra guidance, just get in touch!