On the Porch, we are often asked about the differences between Mission statements and Vision statements. Having clearly defined Mission and Vision statements as part of your strategic plan can help your company perform better than your competitors in the short and long term as the two serve very different, yet important purposes.
Mission Statements vs. Vision Statements
Mission statements define the present purpose of a company by addressing the following three things about your company:
- WHAT your company does
- WHO your company benefits
- HOW your company does it (differentiate yourself from your competitors)
Vision statements define the future purpose for the company by addressing the following two things about the vision for your company’s future:
- WHY your company exists – Identify your purpose.
- WHAT your company wants to achieve over time – Identify your goals.
Successful Mission Statement: The Short Term
One word can be used to describe successful Mission statements – short.
- They should be short and to the point, using only a sentence or two. Clear, succinct mission statements make it easy for employees to understand and articulate your company’s Mission, allowing them to know how they contribute to accomplishing it.
- They should be short term, addressing a shorter timeframe (one to four years). This allows for refining your Mission statement as needed due to economic or product changes.
Perfect Vision Statements: Focus on the Future
Carefully crafted, successful Vision statements are forward looking, and should:
- Be inspirational and aspirational, succinctly addressing the vision for your company’s future.
- Be farsighted, focusing on a longer timeframe (upwards of five to ten years).
- Serve as a challenge to your employees, helping them visualize how their daily tasks help your company’s quest to meet long term goals. This will help develop buy-in and support throughout the organization, even if/as leadership changes.
- Serve as a litmus test for marketing to keep your company’s communications on message.
So, which should come first? Begin with the end in mind. Take a look at your company’s present state (Mission) and ask yourself whether you are working towards your future purpose (Vision). If not, consider creating a Vision statement to set a new course for your company and your people.