Why did you form this company, and what are you hoping to accomplish by developing it and offering its products or services to the public?
Your vision statement will be briefer and more concise, and will paint a picture of what your business should look like in five years, or in a decade or two.
Identifying these BHAGs can help you avoid the tendency to think too small, although in order to be effective, these goals need to be measurable and achievable.
Just remember that BHAGs will typically take a decade or two to bring to fruition.
That’s exactly why they can help galvanize you into action with an increased sense of urgency, motivating you to make smart and strategic decisions over the long term in order to fulfill them.
With your mission and vision statements in place, you will next typically focus on crafting statements of core values.
When creating these aspects of your strategic plan, it can help to consider your organization’s biggest and boldest major goal.
Some business writers have followed authors Jim Collins and Jerry Porras, who memorably called these kinds of aspirations “Big, Hairy, Audacious Goals” in their 1994 book .
Your strategic plan is the document that shapes the specific activities you’ll undertake to overcome the challenges you face on the way to your goals.
It spells out the logical steps you will take to lead you from the start to the finish of your endeavor.