A spirit with a vision is a dream with a mission. - Neil Peart.
Product/Company Mission and Product Vision go hand in hand in defining the long-term success of any business. A Product Vision statement is what we want to achieve as the end goal and our vision statement should capture that goal clearly. A product vision is often long-term 3 - 5 years at the very least. Whereas the Product/Company Mission statement focuses on the business, its objectives, and the approach we will be taking to reach the end goal (ie. Vision).
Product/Company Mission:
A company/product mission defines the objectives, direction, and approach - we as a team need to take in order to achieve the end goal - that is the vision. A mission statement outlines our approach toward the end goal and how we are going to achieve the long-term vision. Missions are often short term and the roadmap will change as we get closer to the end vision.
Product Vision:
A Product Vision defines the end goal that we would like to achieve in the long term. It brings all the team members together and helps in unleashing the potential of the team - as we drive towards the vision. When we are defining the vision - we need to set the bar high and aspirational - which in turn can help inspire the team members to deliver to their potential.
A Product Vision is a statement that helps our team to do what we do - it gives them the purpose behind our mission. When all the team members join together performing in unison with their individual potential in the same direction - we will be able to achieve stability and gain momentum one step at a time in the right direction towards reaching the end goal.
A Product Vision - if defined well gives the purpose, and provides inspiration to work towards achieving it.
As Marty Cagan described in his Mission Vs Vision comparison,
“A good product vision serves as the North Star for the product organization so that we have a common understanding of what we are hoping to accomplish together.”
There is a folktale from India about 6 blind men and an elephant, which illustrates how different perspectives often lead to distinct points of view.
As depicted above, each one of us has different perspectives, and our points of view differ. If our vision and mission are not outlined clearly then we might end up in a situation that will result in failure.
As product leaders, it is important that we take all the key stakeholders together, help join forces and help the business to build products and evolve in the long run. For a successful business, it is important that everyone believes in the vision and supports each other in their mission.
Following are the vision and mission statements of Amazon:
Vision Statement
To be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online
Mission Statement
We strive to offer our customers the lowest possible prices, the best available selection, and the utmost convenience.
You can read more on drafting the Product Vision on the following link: Core Principles of a Compelling Product Vision
I am a product management professional based in Halifax, Canada and I write about technology, innovation, entrepreneurship, and business strategy. You can learn more about me at the following link: https://iamgrt.com
Sources:
- Product Mission Vs Vision by Marty Cagan
