Every business needs a mission statement to determine why it is in the business and what goal it hopes to achieve.
A mission statement is a description or short paragraph that concisely explains the purpose of a business, business, organization, or entity. A mission statement explains why the company exists and answers the questions “Who are we?” And “What is our goal?”
However, a mission statement is not a short business plan, nor a sales pitch.
Why a business should have a mission statement
There are four main reasons why a business should have a mission statement.
Help guide the team forward: Having a clear and impactful mission statement provides a blueprint for all decisions and movements made in the business. A mission statement clearly describes the purpose of the company’s existence.
Help guide growth strategies: A business without a goal can have anything, sell it all, and try to meet everyone’s needs. A mission statement helps the team focus all growth strategies on achieving and exploring the mission.
Shapes the corporate culture: A clearly defined mission leads to action. Employees will work in a certain way, management will react in a certain way, products will be created and services provided in a specific way. All of this will be in response to the mission. This will shape the culture of the company and how everyone involved relates and feels about the company.
Invites creativity: The mission of a company is generally broad. Describing what a business is and what it is for leaves a lot of room for growth as it strives to live up to it. Each product / service should reflect the mission statement. If they are not, there is room for improvement. A mission statement invites creativity to flourish in the company to create products / services that reflect its mission.
What should you include in a mission statement?
There are several things a mission statement should have:
Written in the present tense: Write the mission statement in the present tense. This is different from a vision statement, which is written in the future. The mission statement explains what the company is now.
Values and plausibility: The values defended by the company must appear clearly in the mission statement. Clear values give plausibility to the business and encourage customers to trust the business.
Holistic inspiration: Specificity should not confine the company to a narrow mission. Make sure the mission statement encompasses everyone in the company, every line of business, and all of the hopes of the company and its founders.
Soft: Don’t set a mission statement in stone. Companies are constantly changing their mission statements to reflect their new customer base, information, cultures, or different standards. Avoid carving the mission statement in stone and allow room for change and growth.
How to write a mission statement for your business
A mission statement should identify four things:
The scope of the company: Answers the question “What do we do?”
The products or services provided: Answers the question “How do we do what we do?” “
The target market: Answers the question “Who are we doing it for?”
The company’s value for its target market: Answers the question “What is the value of what we do?” “
To achieve the four key areas, a company should use these five steps to develop its mission statement:
1. Clearly define what the company does
Describe what the business is and what it does, without being wordy or going into too much detail. This should be the scaled-down version of a business definition from the business plan or proposal. It should be clear and client / client oriented. Add how the company does what it does by mentioning the key product / service.
Example: “Our revolutionary AI technology makes life safer for women living alone. “
2. Give the factor “why”
Stick to the essence of the existence of the business. This will show the customer the value of the product or service and what it brings to their life. Make sure this point sets the business apart from others in the same niche.
Example: “To help prevent victimization and harassment of women.”
3. Be concise, precise and succinct
Avoid unnecessary shading or chatter. A mission statement doesn’t have to be long to get the point across.
Example: “We only buy foods you can trust. It gets the message across without having to talk about sourcing from local organic farmers.
4. Make sure it is inspiring
A mission statement should inspire and kindle a fire in the hearts of every customer, employee, partner or investor in the business. It should work as a motivation towards achieving the vision of the company. Show what the business aspires to do, but write it in the present tense.
5. Maintain specificity
Specific products, a specific group of people, a specific market, or even specific goals go a long way in making a mission statement more plausible. It will resonate with the target group and increase the loyalty of the company.
Keep your mission statement short, inspiring, and plausible. Remember to write it in the present tense. Remember to include the reason you started your business. This will ensure the company has a place in the hearts of people, ensuring longevity and success.