Not having a clear vision and mission will add unnecessary complexity to your business. It will be harder to stay on track and to determine quickly whether a new opportunity is consistent with your business model. However, the concepts of Vision and Mission have become obscured with consultant-speak (yeah, we did it).
Here's a simple way to plan these two important factors into your business plan.
- Vision: include your target market, niche, products/services, territory, scope, productivity level, and other key factors.
- Mission: use as few words as possible to convey why you're building the company you're building.