Starting your own business starts with drawing up a business plan. In this plan, you should, among other things, define the direction of the company and describe how you will follow that direction. To determine where you want to go with the company, formulate a mission and vision in the business plan. How can you best handle that?

Difference between a mission and vision

The terms mission and vision are often used interchangeably. It is also quite difficult to make the distinction between a mission and a vision clear. Basically, a vision is based on the mission. The mission says something about what the organization does. It says something about the identity of the organization and about the organization’s right to exist. The vision says something about how the organization wants to achieve its goal in the future. The vision in your business plan can therefore be adjusted every few years. The vision is, therefore, more concrete than the mission and more feasible: after all, it is about the aim of the organization. Where does the organization want to be in x years? To describe the vision, you, therefore, state the ambition of the organization. By naming the vision, you show what your organization is all about.

What is a company mission?

A company’s vision is, therefore, a concrete dot on the horizon. The company mission is often less concrete and more subject to external factors than the vision. When describing the company mission, you further map out the business idea. You discuss the identity of the organization and describe why this company has a right to exist. You can approach describing the mission by answering the following questions:

• Why does the company exist?
• What is the organization’s field of activity?
• What is your company’s outcome for stakeholders?
• What is your distinctive character?
• What objectives does the company have?

What should the mission fulfill?

The mission in the business plan must, therefore, contain the following five elements: the field of activity, the organization’s raison d’être, the intended results, and the distinction between the competition and the objectives. It is important that the mission is to the point and clearly described. The business plan should contain a short but powerful company mission that inspires and is credible. Unlike a vision, the mission will not change quickly. It is, therefore, important that you formulate the mission broadly and that it is written for the long term.

In addition, when describing the mission, it is important that you address the company’s unique value: what makes your company different and better than competitors’ organizations? Finally, it is customary to link concrete objectives to the mission. A useful aid in formulating the objectives is the SMART method. You then ensure that the objectives are formulated as Specific, Measurable, Acceptable, Realistic and Time-bound.

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