5 Steps To Building a Strong Vision For Your Insurance Agency

According to Forbes, employees who find their company’s vision to be meaningful have average engagement scores of 68%, while the average for those who don’t is down around 18% (a sizeable difference!)

But unfortunately, on average, about 70% of workers don’t understand their company’s vision at all.

Why is it important to set the vision for your company?

We all need something to work towards. We need Motivation. Employees need to know the moral values & principles of the brand. Brands need something more deep principles & values beyond just profit, revenue & sales - That gets them going in any corporate, market & any kind of hardships. A deep sense of purpose which is more valuable for employees than just their salary.

So here are 5 Steps To Building A Vision For Your Business-

1. Know your goals

Setting appropriate goals is an art. Anyone who has done it successfully will tell you that goal setting helps them accomplish more than they even realized was possible. In establishing your company’s vision, consider your goals.

Goals are like clear direction & roadmap for your company's ultimate destination - That every single person of the company should keep in their mind, no matter what is their role in the company.

Setting goals includes from your destination to step by step blueprint to reach the destination and everything in between, not only where you plan to end up.

Without a clear understanding of Goals, its not possible to move towards something Big - which is Vision.

2. Define what you do as an output

Be crystal clear about what it is your organization actually does, and exactly why your customer remembers your brand. Be careful to remain 'output focused' rather than 'input focused'.

For example, Microsoft famously had a vision statement to Put a Microsoft-powered computer on every desk in the world, now Microsoft build computer operating systems, but for the purposes of their Vision of putting computers on every desk.

In simple words, your company's vision has to be aligned with what you do & who you serve.

For example:

A bakery makes bread. But the outcome is consumers enjoy that bread. So the Vision can be everyone's #1 choice of bread or Be renowned for the best quality bread in the city.

3. Define your company's Unique Value proposition

Very few products or services these days are truly new - most are more like reinventions of something that exists already, but with a different approach, focus, or spin.

Having a Unique Value proposition is a must in this highly competitive, rapidly changing market - where new companies are coming on the market every single day.

If you don't know your unique advantage, research your market deeply.

Ask yourself why your customers are buying from you instead of your competitors, and exactly what drives them to use your service/product instead of others on the market.

Unique Value propositions separate your brand from the rest of the market, so having a Unique upside is a key point to building your company's Vision.

4. Be forward-thinking

No matter which industry you are in, your vision should always be forward-thinking. This means thinking of what your industry’s landscape will look like in the future. It also means considering how to keep your mission, strategy & growth sustainable and scalable.

A vision that cannot sustain rapid growth & change always runs the risk of collapsing your business, or worse, out of business. Especially in this rapidly changing & evolving market companies & leaders have to be forward-thinking to grow & sustain continuously.

That's why in modern-day forward-thinking toward the future is also a part of companies Vision statement.

5. A simple company Vision is key

Keeping your vision simple serves a meaningful purpose.

On the one hand, you need your employees to understand and support the vision. They cannot accomplish either of these if it’s overly complicated. Additionally, keeping your vision simple makes it more likely that you will meet your goals and turn your vision into a reality.

A complicated vision is a sign that your company is moving towards too many directions, which will lead to a disaster in the long run or those extra unnecessary paths will become an obstacle in your organization.

Carefully consider what parts of your vision are absolutely necessary and non-negotiable.

So here are some steps you can take today to build a strong company vision.

But keep that in your mind your company's Vision is not your company’s mission or strategy. The mission is what is already grounded in the day-to-day and not as forward-thinking.

Vision also is not a strategy. Vision is a where and a what, while strategy is a how. Strategy explains what deliverables drive the company toward its vision.

Although a vision statement is impactful and future-oriented, it helps the company culture to be organized and grounded to become actionable and understood by a wide audience; Also ensures the company's long-term sustainability & growth.