most great products start out looking like a toy. In the early social days, people saw Twitter as a dumb site where people posted what they had for breakfast

A vision statement provides a brief description of a company’s long-term goals. It’s typically ambitious and communicates how the company plans to make a difference in the world. Think of it as a roadmap for making decisions that align with your company’s philosophy and objectives. A good vision statement helps you: Inspire teams and keep them focused Connect with customers in niche markets Make smarter decisions Attract top talent

It doesn’t have a set length. You can craft a one-sentence statement or write a three-page document discussing the company’s future. The goal of a vision statement is to differentiate yourself from competitors and focus efforts on achieving your objectives.

A vision statement articulates where you aspire to be once you achieve your mission. Often, it describes where you want certain people or the world to be as a result of your mission. Vision statements convey a long-term goal, generally a time range of five to 10 years, or beyond. Your mission statement is essentially an action-oriented vision statement, declaring the who, what, and why of your retail business. Your mission statement can be the roadmap for your vision statement.

A mission statement is usually part of your business plan when you start a business. It identifies your company’s purpose and is a way to publicly share why your company exists. Crafting your mission statement helps you unify your business and avoid potential business mistakes by keeping you on track.  Your mission statement should: State what your company does. You don’t need to be fancy, simply state whatever it is your retail business produces or provides. State how your company does what it does. This does not need to be a detailed description of how you operate your business. You can describe how your business works in more general terms and incorporate one or more of your core values. State why your company does what it does. Think about why you started your business in the first place—share your passion for starting your company.