What Is the Difference Between Product Vision and Product Mission?

What is the difference between product vision and product mission? Continue reading to know more about the topic.

Difference Between Product Vision and Product Mission

Many people confuse these two terms with each other. When we talk about the product vision and product mission, many people think that they are the same. 

However, there are certain differences between them. Let us discuss it one by one.

Product Vision

Product vision is a high-level plan, which conveys the purpose of the product. It defines what the product wants to become in the future. 

It should be a clear and concise document, which should not have any ambiguity in terms of goals and objectives. The goal of writing a perfect product vision is to have a clear focus and direction for all stakeholders.

The reason why it is necessary to have a clear vision is that it will help you:

• Keep your team focused on the long-term goals and objectives;
• Make decisions based on strategy; and
• Empower your team with the direction and motivation to move your organization forward in the desired direction.

Product Vision Example

Let us assume that you work for an organization that wants to build a product for educational institutions. 

You can develop a product vision document for this particular product, which might look like this: “To provide a learning management system (LMS) for educational institutions, which can allow students and teachers to access course materials from anywhere in the world.” 

This statement conveys what type of product you want to build. And how your product will help you achieve your overall business goals. 

It also provides direction to your team members so that they can align their efforts according to these goals. 

Thus, this type of vision statement will help you build a successful product in the long run. 

However, you need to keep this document updated as per the changing needs of your customers or environment. If you do not keep it updated frequently, then it might lose its effectiveness over time.

The Importance of Vision and Mission

Product Vision and Product Mission are two of the most important elements of product strategy. They define the direction in which you want to move your business as well as the product. 

These elements are especially important for startups and small businesses because they do not have a large budget or workforce to execute their plans. 

They have to depend on the vision of their founders and leaders, who can lay the groundwork for the future. 

Thus, these documents help them achieve success in their objectives.

What is more, if you have an effective product vision and mission, then it will be easier for you to convince your investors and stakeholders about your business goals.

Conclusion

Thus, this article discussed what is the difference between product vision and product mission along with examples and importance.

What are your thoughts on this topic? Do you have any questions? Leave a comment below or watch the video to learn more.