What is the difference between a vision statement and a mission statement?The best way to demonstrate the difference between a vision statement and a mission statement is to look at an example. In this case, I’ll use an example of a (fictional) estate agency who is aiming to undercut their competition:
What do we do? We act as agents for sellers, on a fixed fee basis. We don’t attend viewings, nor do we have glossy brochures. What we do is act as facilitators between the buyer, the seller, and the solicitor. Our customers take their own photos and write their own descriptions, which is verified by us and optimised before being uploaded to our property portal. The whole sale process is managed by an online dashboard, which allows our sellers to monitor the process of their sale without picking up the phone to us.
Who do we do it for? Our target market is home owners with properties valued up to £250,000. Our typical customer is cost conscious, and happy to get actively involved in the sale process.
What is the benefit? Our customers receive a very cost effective service, saving the average home owner £1,000 + VAT on their property sale. They also receive a unique tool which gives them visibility of the sale, whenever and wherever they wish.
Final mission statement
We are an online-only estate agency that charges fixed fees for property sales by using the internet to put home owners in control of their sale. Our average customer saves £1,000 + VAT, and has access to our virtual agency system at any time through their computer or smartphone.
Through our innovative technology and our aggressive pricing strategy, we aim to become the UK’s leading estate agency by 2020, and will be the lead provider of estate agency software to other firms looking to provide a proactive service.
You can see from the above that the preparation required to prepare an effective mission and vision statement can be quite extensive in comparison to the final statement, which should ideally be a 30 second soundbite.