An effective mission statement is as important as your business plan. As a business owner, you have a purpose and direction, but have you put these in writing?
In this article, we’ll explore the reasons you need a mission statement and lay out the steps to write one that’s uniquely yours.
A mission statement is an indispensable tool of every well-run company. It captures your business goals and objectives, as well as the values and philosophy driving them. And … it does this in just few succinct sentences.
A mission statement also encapsulates a business’s strategy and reflects every aspect of a business, including
There are a number of web applications that poke fun at vague, hastily crafted mission statements. They illustrate perfectly what not to do—unless, of course, you simply want to string together meaningless buzzwords and disappear into obscurity!
Effective mission statements define what a company does for its clients, employees and owners. They also describe the company’s relationships with its suppliers, competitors, community and the world.
When developing your company’s mission statement, start by asking the right questions.
Studying other companies’ mission statements can help fuel your creativity. You may also want to
Remember that your mission statement should be uniquely yours. Consider subjecting it to Tim Berry’s mission, mantra or vision test.
Once you’ve crafted your mission statement, don’t be afraid to edit. Your mission statement must work for your business! Remove any buzzwords and hype, and be as concise as possible. Remove anything that does not apply specifically to your business. Bear in mind that good mission statements serve a number of purposes, define business goals and live for a long time. You may even want to consider a longer mission statement for internal use and a series of shorter, customer-facing segments, categorized by type or goal.
Your business goals, and the market you’re in, are fluid. Your mission statement should be, too. Review and revise it as necessary to reflect any changes in your business strategy and the broader environment.
Developing a mission statement requires thought, time and planning. The effort will pay off, and you’ll see that the process is as beneficial as the end result: it will justify what you’re doing and clarify your entrepreneurial motivations.
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