One of the things that your service business needs to have in place is a good vision statement. This lets the public know what your company stands for and what is wants to accomplish. Many companies forecast their future earnings through a statement such as this but what you want to include is how you will go about it and the timeframe in which you want to achieve it. There are professionals who can help you to put together a very good plan and it may be worth it for you to hire one of them for your company.
Check the Internet for References
When you begin to put together a statement, you may want to look at others that have been written by other companies. This can give you an idea of what a good one includes and how you can get yours together. Look under how to write a vision statement in a search engine and there will be examples that are posted as well as the names of companies who have done them for others. If you will be doing it yourself, some of the items as stated above should be included. Figure out what you want your company to become in five or ten years and where you see yourself going with it. If it will be to expand to new areas of business, then, include that in your statement. It is important that your customers and clients know what your future plans are. Many people will only work with companies that have these plans in place because they feel that it is more reliable and will be around for a much longer time than others.
Using Your Statement To Secure Loans
Many banks will not give a loan to a company unless they have certain items in place that show that the owners are seriously looking to improve their business. If you have a vision statement in place, showing this to a bank will let them know that you do have future plans for expansion and that you intend to do your best to achieve these goals. Lending institutes know that many businesses will fail because of poor planning and if you have a good outline in your vision statement for ways to improve you company, they will take this very seriously and perhaps approve loans based on it. You can include plans for loans that you will be taking in your vision statement, but it may be advisable to keep this out of it. You don’t want lenders to know that you will be relying on funds from outside sources.
If you are unsure of how to go about putting a vision statement together, you can hire a firm to do it for you. They will review your business as well as your competitors in order to see what will need to be done. They can make recommendations for what to put in it and what to exclude from it. The fees that they charge for this service is nominal.