How important is it to set our goals

Company goals: what do you want to achieve with the company?

Long-term corporate goals: Vision & Mission

With the vision describe the ideal state of your company in the distant future and thus answer the question of what you would like to achieve with your company in the long term (i.e. in 10 to 25 years). The vision is therefore an overarching corporate goal.

When formulating the vision in your business plan, make sure that the vision:

  • "Visionary" but still realistic,
  • is clearly and understandably formulated and
  • can be expressed in one sentence (focusing on the essential factors).

A good example here is Amazon, with the following vision:
"Amazon’s vision is to be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online. "
(In German: Amazon's vision is to be the world's best customer-centric company by creating a platform where people can find and discover products that they want to buy online.)

In contrast to the vision, with which your own employees in particular should identify, the aims mission aims to explain the purpose of the company. So it is essentially about what a company should do for customers and / or society or what purpose the company should fulfill. The mission is usually derived from the vision and accordingly has an indirect impact on the corporate goals.

One of the most successful companies, Google, has the following mission:
Google’s mission is to organize the world's information and make it universally accessible and useful.
(In German: Google's mission is to organize information and make it available worldwide).

Feel free to include the two long-term corporate goals, vision and mission, in your business plan. Based on this, you can then set the short and medium-term corporate goals and milestones.

Short and medium term corporate goals

When you have formulated the vision and mission, it is a matter of defining the medium to long-term company goals (for the next 5-10 years) as well as the short-term company goals (1-3 years). On the basis of the short-term company goals, you can then define the milestones that you can use as a guide when implementing the business plan.

Here you can find out what you should pay attention to when formulating short and medium-term corporate goals.

The goal is ...

... that you present a convincing vision and possibly mission in your business plan. Clearly formulated short and medium-term corporate goals indicate the direction of your business start-up. Based on the company goals, you will then be able to set milestones that you can use as a guide in the future.

In the next chapter of the business plan, the corporate strategy, you will work out how to achieve the corporate goals.

Author: Für-Grü editors

As editor-in-chief, René Klein has been responsible for the content of the portal and all publications by Für-Grü for over 10 years. He is a regular interlocutor in other media and writes numerous external specialist articles on start-up topics. Before his time as editor-in-chief and co-founder of Für-Grü, he advised listed companies in the field of financial market communication.