Where to start? Setting a vision for your small business

Starting a small business is an exciting journey. But while the prospects are thrilling, it can also feel overwhelming at first. Amid the to-do lists, marketing plans, and financial spreadsheets, one thing a new entrepreneur can easily miss is solidifying a vision. In theory, you may know what you want to accomplish, but purposeful exploration creates a vision for your business that acts as a compass, guiding you through challenges and helping you stay focused on your end goals.
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So, where should you start? Let's break down the process of setting a powerful vision for your small business.

What is a Business Vision?
Simply put, a business vision is a clear picture of where you want your business to be in the future. The clearer the picture, the better! It's not about how to get there (that's your mission) but about what success looks like in the long term. Where do you want to end up? Your aim could be growing into a multi-location business, becoming an industry leader, or creating a company that supports a lifestyle you value.
Your vision should inspire you, your team, and potential customers. It gives purpose to your efforts and ensures that everything you do aligns with your larger goals.

What is your 'Why'?
One of the first steps in creating a business vision is understanding why you started your business in the first place. What problem do you aim to solve? What are you passionate about? Reflecting on these foundational questions can give you clarity and perspective as you formulate a vision that aligns with your values.

Think about:
Why are you passionate about your business idea?
What impact do you want to have on your customers or community?
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Focus on the Future!
Once you've reflected on your 'why,' it's time to imagine the future of your business; where do you want it to be in 5, 10, or even 20 years? Do you want to be a local staple, have a physical location, sell online, or something else entirely? Picture the success you desire in vivid detail. What does it look like regarding revenue, employees, or social impact?
This is your opportunity to dream big! Don't worry about practicality or current limitations—focus on the desired outcome.
As you build out your vision, think about:
The size and scope of your business
Market position of your products or services

Does it fit?
Your vision statement should inspire action. It's the north star for you and your team, motivating everyone to stay aligned and focused on a shared goal. While your vision should be specific enough to provide direction, it should also be flexible and broad enough to allow room for growth and change as your business evolves.
While it's tempting to get poetic or overly abstract, a strong business vision should be straightforward. Keep it concise—ideally, just one or two sentences.
It's important that your vision feels achievable as well.

Revisit regularly
Your business will evolve, and so should your vision. As you grow and gain more insight into your industry and customer base, revisit your vision statement and refine it as necessary.

And finally…
Setting a vision for your small business doesn't need to be intimidating. It's one of the most exciting parts of the entrepreneurial process. Your vision is your guiding light—a clear expression of where you want to go. It'll help you navigate obstacles and focus on what truly matters. 

Emily Mason, Small Business Advisor

Emily Mason is an entrepreneur, business coach, and small business advocate. Originally from England, she earned a master’s in chemical engineering in Scotland before working at NatWest and becoming a certified business coach. She founded EFL Tutors, a successful online tutoring company, which she continues to run remotely. Now based in St. Thomas, Emily is excited to support local entrepreneurs through the Elgin-St. Thomas Small Business Enterprise Centre.