Many intrepid entrepreneurs have found themselves staring at a blinking cursor on a bare screen as they struggle to formulate a vision statement for their business. Although we all know a good one when we hear it – such as Disney’s “to make people happy” or Instagram’s “capture and share the world’s moments” – creating a well-crafted vision statement can be a daunting task. However, those willing to do the hard work are rewarded with a vision statement that encapsulates the core ideals that give their business its shape and direction and provides a roadmap to where it wants to go.

“A company vision statement reveals, at the highest levels, what an organization most hopes to be and achieve in the long term,” said Katie Trauth Taylor, CEO of the writing consultancy Untold Content. “It serves a somewhat lofty purpose – to harness all the company’s foresight into one impactful statement.”

A vision statement provides a concrete way for stakeholders, especially employees, to understand the meaning and purpose of your business.

Why does this matter? Research shows that employees who find their company’s vision meaningful have engagement levels of 68 percent, which is 19 points above average. More engaged employees are often more productive, and they are more effective corporate ambassadors in the larger community.

Given the impact that a vision statement can have on a company’s long-term success and even its bottom line, it’s worth taking the time to craft a statement that synthesizes your ambition and mobilizes your staff.