This is one of those parts of the business plan that is make or break. If you don’t know where you want your business to go, it’s probably not going to go anywhere.
Potential outside investors, lenders, key customers, and employees all want to know what your future vision is of your business. But most of all you, the CEO, need to have a clear vision of the future of your firm.
In your vision statement, don’t get carried away talking about how your firm is go to be so much better than other firms. Instead focus on how your firm is going to be unlike than other firms.
In business, it’s a lot easier to succeed not by beating the competition, but by doing everything you can to avoid competition. Or to at least compete on different terms than the competition. Don’t get into specifics here such as sales or profit goals, instead give the broad view of how you see your company in the future.
You might be thinking, why have milestones? As a business, we’re going to do our best to succeed and we’ll simply tell outside investors and lenders this too. But, milestones get people excited about reaching goals. It gives employees something concrete to strive for. It motivates and it challenges.
Business Planmaker Professional Deluxe 9 [Download]
Sample Plans & Excerpts - Ready to Edit! All the Tools you need to Write a Quality Business Plan. Easy! Follow the Step-by-Step Guide. Create Impressive Reports in Minutes.
Publish in the Format Lenders Prefer. Comprehensive Tutorial on Business Planning. Includes Valuable Savings on Business Resources.
Powerful Financial Forecasting Tools
It also prioritizes and helps lead the business to really push for the milestones that matter. It also instantly gives both insiders and outsiders a very specific idea of what you aim to accomplish and more importantly when you hope to accomplish it by.