Shark Tank’s Daymond John Process for Creating a Mission Statement

  • Daymond Johnson has a process for creating a clear, easy-to-digest mission statement.
  • Contact your clients to share the first draft of your mission statement and ask for their input.
  • Ask them to explain the mission to you and focus your brand on their most used words.
  • See more stories on the Insider business page.

When it comes to mission-driven businesses, sometimes clients care more about the mission than the business itself – which is why a strong mission can take a business a long way.

That’s according to Shark Tank investor and series founder Daymond John, who learned this lesson after investing in cult sock company Bombas, which donates clothing to homeless shelters for every pair of socks. sold. Put simply, John realized that customers care about companies that give back and have a clear mission that people feel good about.

Read more: BARBARA CORCORAN: Here’s what I’m doing to keep my Shark Tank team and activities alive during this recession

It’s a lesson that’s featured prominently in John’s new entrepreneurship course for kids ages 10-17. He shared with Inc. a process that he teaches these young students and adult entrepreneurs about creating a clear and easily digestible mission statement for clients.

The first step is to reach out to your clients to share the first draft of your mission statement for their feedback. If you don’t have clients yet, John suggests interviewing family and friends who match the target audience for your idea. Bring your small group together, share your thoughts, and ask your audience to repeat to you, in their own words, what they understand to be your mission. Pay special attention to repeating words. You want to make sure that the way you word your mission really communicates what you intend to do.

“There will be so many different things to understand the identity and DNA of your product, service or brand,” he said. “You have to find your two to five words of what you stand for. Is there a social cause behind it? Is the price competitive? Is it luxury?”

He also suggests creating a separate value statement by asking yourself the following questions:

  • What do you want to solve?
  • What do you like?
  • What would you do for free each day and why are you doing it?
  • What joy does your business bring?
  • What about your business will create unity?

Once you have your values ​​statement and two to five words that your group approves of to clearly communicate your values, center your brand message on those words, according to John. What makes sense to your customer will give your marketing the greatest impact.

And while the early stages of building a business can be difficult, John says to see it as an opportunity to lay the groundwork for something big. “The beginning of the story is the best part,” he said.

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