Where Do You Want to Be in Two to Three Years?

I always ask new clients who are referred to me what their vision statement is. What would you like your life and business to look like in the future?

Your Vision Must Mean Something to You

Your vision needs to sit at the heart of what you believe and what you want to achieve. You also need to feel passionate about it, because that emotional connection will help you stay committed when day to day pressures compete for your attention.

Why a Vision Statement Matters

A clear vision statement gives your business direction today and helps you make better strategic decisions. It also supports the operational choices you make each day.

A company without a vision statement is like a ship without a rudder.

Keep It Clear and Concise

Your vision statement needs to be easy to understand so that everyone involved in the business knows what you are working towards.

It can be as short as a few words and should rarely be longer than a paragraph. Many large international companies use only a short phrase to summarise their vision for the future.

Examples of Business Vision Statements

Here are some examples of vision statements set by business owners I have advised over the years:

• I want 24 new clients within 12 months, with an average sales value of £2,500 per client.
• I want turnover to reach £1 million within three years, with an office in the West End and a team of 10.
• I want to work 20 hours a week instead of 80.
• I want a paperless office where staff can work from any location and enjoy a better work life balance.
• I want happy, highly motivated staff who provide an excellent customer experience.

Turning a Vision Into Measurable Targets

A London florist wanted to increase turnover by £120,000 over the following year. I asked what the average spend was for each new client, and they estimated around £5,000, usually as recurring annual work.

That meant the business needed 24 new clients a year, or two each month. At the time, it was gaining only one new client every couple of months, which left a significant gap between its current performance and its goal.

Breaking the vision down in this way made the target much clearer and showed exactly what needed to change.

Tracking Progress With Xero

Xero accounting software can help you measure whether your business is moving towards its vision.

You can monitor monthly turnover and profitability against your key performance indicators. Xero tracking can also help you assess how profitable each product, service or client is, giving you better information for future decisions.

Let’s Explore Your Vision

If you would like to discuss and develop your vision statement, please contact me, Kevin Wright, on 07957 890538.

Further Reading

Vision Statement – Take Control of your business!