Are you a business owner looking to take your company to new heights? At The Alternative Board, we understand the importance of having a clear vision for your business. That's why as part of our membership package, we guide you on a journey of self-discovery to uncover your company's and leadership's true potential. Our expert guidance will help you articulate a powerful vision for both your business and personal vision. Join us, and let's turn your aspirations into reality!
But where does a business owner start, or how can they develop their company vision? Here's our quick guide for a company vision to get you started.
What is a company vision?
A company vision describes an organisation's mission and aims for what the company will be like in the future. The vision includes vital areas such as the purpose of the business, the company's leadership position in the industry, the company's market share compared to that of competitors, the culture of the business and much more. A company's vision can often be a key contributor to achieving significant business growth.
Why is a company vision important?
Alongside your vision, a company vision can be crucial to running a successful business for many reasons:
- A vision provides a guiding principle to help prioritise goals and plans.
- It brings meaning to people's work, mobilises them to action and helps them decide what to do and what not to do.
- It helps ensure the team is aligned and working towards the same goals.
- A company vision can be crucial to running a successful business.
How do you write one?
When developing or writing a company vision statement, these questions can serve as a helpful starting point for understanding your vision as a business leader:
- Why does your business exist beyond profitability? (e.g. mission, values, social impact)
- What are your company's current and desired products/services?
- Who are your current and desired target customers, clients or users?
- Which geographic markets do your company currently operate in
- What markets do you want to expand into in the future?
- How do you plan to treat your stakeholders (e.g. customers, employees, suppliers, investors)
- What are your current and desired outlets/distribution channels, including web-based delivery?
- What level of leadership and influence do you want your company to have in your industry/profession/community?
- Which cultural and social values are essential to your vision for the company's future?
- What core values, beliefs and principles are necessary to you for your company's future?
If you need help processing all these questions and crafting a company vision statement, your local TAB Facilitator will be able to help.
An example of a company vision statement
Once you've answered these questions, you can put together a statement that looks a bit like this:
Our Company Vision is:
- To be a high-quality, custom solutions provider with state-of-the-art metal fabrication technology for the metal fabrication industry.
- To manufacture our products in the UK.
- To sell solution metal fabrication products throughout the UK and Europe through a sophisticated selling system.
- To have an enlightened, skilled, dynamic, forward-thinking management team supporting and directing a motivated, loyal and flexible workforce.
- To develop non-customised products that could be bought in bulk by distributors.
- To keep up with, although not necessarily be on, the leading edge of new state-of-the-art materials.
What's the next step in achieving your vision?
If you still need to do so, the next step is to create a personal vision statement. Your business should serve as a vehicle to achieve your vision of success. Here's our guide on how to write a personal vision statement.
Both your vision and company vision are crucial on the road towards success.
Contact your local TAB coach if you seek guidance on processing and developing your understanding of your company vision. Alternatively, you can enquire about TAB membership.
With The Alternative Board, you can improve your chances of success and achieve a balance between your business and personal life. Our solution, which has been successful for business owners globally, is designed to help entrepreneurs lead successful businesses while also living fulfilling lives. Our advisory boards for business owners, coaching sessions, and strategic business tools achieve this.
Here's what one of our members has said:
"What I know I have in common with many small business owners is a difficulty in planning the direction of the company when day to day work never goes away. Andy [TAB] has worked hard in putting structure into my thinking and ensuring priorities are dealt with. The day to day stuff doesn't go away but the regular support through monthly meetings means that development of the business doesn't get forgotten. Having someone outside of the business that you can call on to get an alternative and valuable opinion also reduces stress levels by a notch or two."
- Mark Judkowsky, Clean and Care, Member since 2017
