How do you create a powerful vision and mission statement for your industry?

During my workshops, I used to ask the participants, what if you had 50,000 dollars, a space for one year for free, no restrictions, no food to cook or dishes or laundry to do, and your family tells you, "Go live your dream"; then which project will you start, and how will you explain it to anyone who asks? The requirement is that your statements must be: Written without hesitation by hand -Limitless -Assume no hurdles -Make you jump from your chair in disbelief -Give you goosebumps each time you read or speak it -Make you feel as if you have already lost time Then, you have a Vision Statement that you are married to in the industry you want.

In this day and age when the world and business plans around us are changing faster than we can fathom, it is important to have a strong internal locus to define your space in the domain / industry that you operate in.

You need to define your industry AND you need to define who your company IS within the industry. Where do you stand relevant to the industry as a whole and your competition. Is where you stand where you want to be? Have you created actions steps that help steer the ship in the direction you want to go?

Extend your understanding beyond your immediate industry by mapping the broader ecosystem in which it operates. Identify key players, partners, and adjacent industries that influence or intersect with your sector.

It lays the foundation for understanding the context and purpose of your industry, enabling you to articulate a compelling and relevant vision and mission. 1. Industry Definition - Example Industry Definition: "We operate in the renewable energy sector, specifically in solar power generation and sustainable energy solutions." 2. Vision Statement - Example Vision Statement: "To lead the global renewable energy revolution by pioneering innovative solar technologies and solutions that drive sustainability and energy independence for a brighter, greener world." 3. Mission Statement 4. Alignment with Industry Trends 5. Value Proposition 6. Stakeholder Involvement 7. Clarity and Conciseness 8. Inspiration and Motivation 9 Long-Term Perspective

Vision, simply put, can be the guiding light to how you envisage the industry to evolve in future. Just like North Star can guide you in any terrain, Vision guides you through varying situation and business cycles.

Recognize that your vision is not static; it should evolve alongside changes in your industry and the world. Regularly revisit and reassess your vision statement to ensure it remains relevant and aligned with emerging trends and opportunities.

Create a vision that can be applied to anything you do or create. What is your overall goal. What can each part of the process accomplish. What is the true driver behind the company and product. Go big! ??

Many fail to prepare Vision Statement properly, here's the right way: The DOs: - Be Graphic - Be forward looking and directional - Keep it focused - Have some wiggle room - Be sure the journey is feasible - Indicate why the directional path makes good business sense - Make it memorable The DON'Ts: - Don't be vague or incomplete - Don't dwell on the present - Don't use overly broad language - Don't state the vision in uninspiring terms - Don't be generic - Don't rely on superlatives only - Don't run on and on

From my experience the vision can develop and get bigger over time. Yes it can be very big, impactful and clear from the start but most often I found the real vision came to light when we had tested the market and really understand where the gap was and what my personal ‘why’ was all about. We started off with a vision and 5 years later realised what the real vision was about. Scaling a business takes time and the vision gets bigger as you open up the window of opportunity and think about new markets, new products, new geographies and new sectors. Your real ‘why’. Something purpose driven, meaningful and as short as possible for maximum clarity is the most powerful and to be relatable and for maximum but in get the team involved in it.

A company mission is really two different things combined. The first is an explanation as to why this thing even exists, what is it's purpose. The second is what is the company doing, and going to do, to achieve its vision.

Ensure your mission statement places a strong emphasis on customer-centricity. Highlight how your organization's actions and strategies are driven by a deep understanding of customer needs and desires.

From my years in the edtech space, I've learned that a mission is the roadmap to your vision. It's the 'how' to your 'why'. Think about what you offer, how you make a difference, and your approach to serving your customers. It's essential to keep it grounded, direct, and aligned with what you do best. Look at Spotify, they've got it right with their mission: "to unlock the potential of human creativity... allowing artists to thrive and fans to be inspired". It's concise yet powerful.

Once you have your vision nailed down, start digging into the why and your most powerful direction. - Why is this vision inspiring to you? - Why does it feel like important work to do? - Why do you want to serve your ideal customer? - What is it about their need that inspires you and your team? - In what way do you have the perfect solution? After exploring these through writing and reflection as a team and individually, decide what your unique pathway is to enact your vision. Be clear about the impact you want to have. Document this as your mission in as concise and inspiring a way as possible, making sure it's congruent with your vision.

Crafting your business mission is one of the first steps you need to take when setting up your business. If given sufficient thought and written well it can provide a strong ethical foundation for decision-making.

In addition to the SMART criteria I ask my clients to check that their statements feel interesting and empowering. Reading your statement should motivate you get out there and make a difference.

Start sharing your vision and mission with trusted people outside of your company. Do they understand what you're working toward? Do they feel confused or is it easily understood? Do your mission and vision give you space to grow? If you'll achieve your vision within five years, is it big and inspiring enough?

Communicating your vision and mission to both external as well as internal stakeholders is very important as unless everyone is aligned to these, magic doesn’t happen. Also just like anything we learn and internalize in our life, reiteration of vision and mission is the key to alignment, some will align faster than others but a constant reiteration is an absolute necessity.

There's not much point in developing a clear vision and mission if it isn't communicated and used. The entire point is to create something that a team can understand, believe in, align and execute with. I am less of a believer in the need to communicate these key statements to customers, the customer doesn't really need to know your mission, they need to experience the result of your mission. Think of the major brands of electronics you use, the car you drive and the airline you fly with. Do you know what any of those companies mission statements are? Likely not, but they do and you the customer are experiencing the output of that vision.

Your Vision and Mission should be the touchstone of all of your business activity. Test all new products, initiatives, projects, and strategic directions against them. If it doesn't feel aligned, it may not be worth doing. Remember too, you want your team doing the same. The only way the team will come to deeply understand your mission and vision is if it's repeated often and in many different formats. Think, "seven times, seven different ways."

Craft Clear and Concise Statements: Ensure that your vision and mission statements are clear, concise, and easy to understand. Avoid jargon or complex language that may confuse or alienate your audience. Your statements should be memorable and resonate with people. - Incorporate Storytelling - Create Visual Representations - Develop a Communication Plan - Leadership Buy-In - Consistent Messaging - Engage Stakeholders - Educational Initiatives - Measure Impact Effective communication is an ongoing process. Regularly assess and adjust your communication strategies to ensure that your vision and mission remain relevant and continue to inspire and engage your stakeholders.

Drawing from my time in edtech, sharing your vision and mission is pivotal. Make them a part of your brand's story and ensure they're visible in everything you do. Get your team involved; they're your ambassadors. Celebrate small wins along the journey, and always be ready to adapt to the industry's changes. This not only strengthens your brand but also fosters trust and commitment from everyone involved.

Here are some powerful examples: Amazon: ? Mission: “To be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices.” Apple: ? Mission: “To bring the best user experience to its customers through its innovative hardware, software, and services.” Google: ? Mission: “To organize the world’s information and make it universally accessible and useful.” Microsoft: ? Mission: “To empower every person and every organization on the planet to achieve more.” Facebook (Meta): ? Vision: “To give people the power to build community and bring the world closer together.”

I find mission and vision statements to be short, memorable and completely unambiguous. Some excellent points have been raised in this article and I would like to add the mission statement for Dhaka TV to illustrate the points I mentioned. It is simply "To become the Al-Jazeera of South-east Asia within the first five years of operation." Can't get more specific and to the point than that and it follows SMART guidelines to the tee.