This chapter deals with the creation of two essential Imagineering formulations: the vision as a description of the aspirational desired future and the concept as the working principle towards that future. The vision provides Imagineers with an answer to the ‘why’ question, the concept provides the ‘how’ to achieve that vision. Vision formulation is a four-step process. First, you choose the subject. Second, you formulate the vision by defining its purpose (the why), principles (the values) and main promise. Third, the vision is checked by looking at its key characteristics. Finally, the vision is shared. The chapter then moves to the concept. The Concept Continuum articulates the differences and similarities between concepts, High Concepts (for experience design) and Creative Tension Engines (CTEs) (for experience innovation). The chapter ends by presenting an instrument called The Molecule Principle. This is very helpful for concept analysis as well as development and further formulation.