Crafting a compelling vision

TL;DR:
A compelling vision statement is critical to your company’s success. Your vision statement should capture both 1) your core mission and values and 2) a vivid description of an “envisioned future”.

INTRO:
A vision statement is your company’s north star. You’re never too busy to come up with one, and it’s never too early. A strong, compelling vision will enable you to:

1. Better navigate decisions
2. Stay focused
3. Better communicate to potential clients, partners, investors, and prospective employees
4. Strengthen culture & team cohesion
5. Make work meaningful for your team

A good vision statement should capture:

1. Your core mission — this is what you stand for and why your company exists
2. A vivid “envisioned future” — encapsulated within a BHAG (big-hairy-audacious-goal). This is what the world looks like with your company in it.

COMING UP WITH ONE:

1. Get your entire team involved.
2. Expect to iterate
3. Ask yourselves — what do you stand for? What are your company’s 3–5 guiding principles / values?
4. Ask yourselves — why does your company exist? What motivates you?
5. Ask yourselves — what does the future look like with your company in it? Exercise creative license here be articulate about it.

FURTHER READING:

Example Vision Statements
Mission and Vision for Startups
Developing Effective Mission and Vision Statements
Crafting a Mission Statement That You’ll Remember