Vision is about capturing is a long-term, ambitious goal that we are shooting for. The timeframe here is over 10 years in the future when our organization has had a radical impact on the world. You’ll read this alternatively referred to as Long-Term Ambition, Big Hair Audacious Goal (BHAG) or 10-Year Target. Lots of different names for something that’s roughly the same.
This can be a business metric such as a revenue milestone, a number of customers, or a market position but only if that is inspiring to your team – and I’ve yet to meet a team that’s ARR targets are inspiring to. Inspiring to CEOs? Sure. Inspiring to the people that will actually make the vision happen? Not so much. So think of this as the thing you’re using to rally the team around – a shared vision that can motivate employees beyond day-to-day tasks.
When making strategic decisions, leaders can ask “Does this move us toward our Vision?” It also communicates externally (to investors or press) the scale of the company’s ambitions.
Vision Development Process
- Get Crazy: Run a strategy session and start to think of the most amazing, outlandish ways that your company could solve the core business problem if it’s wildly successful. Remember, this is not about the “kind of successful” scenario – this is about the extraordinarily successful scenario. Think 10 or more years in the future. It must be ambitious enough to be exciting, yet believable with effort.
- Refine for Inspiration: Ensure the goal is stated in a concise, catchy way that people can remember. Test that it is visionary and engaging – it should get the team excited about the long-term journey. If it feels too easy or too abstract, adjust it.
- Commit and Communicate: Announce the vision to the company so everyone knows the big goal driving long-term decisions. Incorporate it into the one-page strategic plan or vision documents. Leaders should frequently reference the vision when explaining why certain strategies matter, keeping it in the team’s line of sight over the years.