You have described your mission, and you should have an idea of the service or products you will supply to your customer.
It's time to write a vision statement. How will you know you reached the mission, or in military terms, when have you won your batlle?

If the mission is not directly reachable (in 5 or 10 years) you may think about what to do in timeframes, and define what to do in the current time frame.  What does the future look like? And you should think big, don’t be shy or too careful. You do have to make the vision concrete enough to make it measurable.

A vision statement can be qualitative (happy customers) or mention real numbers (get a share of 70%  in each market we’re active in) compare to a benchmark (be like…, be better than). A vision statement can give the impression each topic in the statement is a project. It very well may be.

Coca cola has a vision statement which divides up the goals:

• People. We strive to be a great place to work, where people are inspired to be the best they can be.
• Portfolio. We bring the world beverage brands that anticipate and satisfy people’s desires and needs.
• Profit. We maximize return to our shareowners while being mindful of our overall responsibilities.
• Partners. We actively nurture a winning network of partners and build mutual loyalty.
• Planet. We act as a responsible global citizen, making a difference wherever we engage.

I'd say that is a good practice, but don't over do it. 

A good vision statement will be translated easily into measures which will show you how much of your goal has been reached.

When starting a new business you'll need some idea of how the company will work, how it will make money for example. Also when you want to quantify, it may be interesting to know more about marketpotential etc before creating the vision. Therefore, you may need to define a businessmodel or do some research on external factors first.

 

On the web use strategy
to be faster than the rest