Starting a small business involves taking a lot of risks, working long and hard hours, and making personal and financial sacrifices. Most aspiring entrepreneurs wouldn’t take these risks without being driven by a passion, core values or the belief that they’ll be able to improve the world or their community. It’s these things that, more often than not, drive someone to start their business, and putting together a mission statement can help you define and explain that passion and purpose.
What makes a good mission statement?
A mission statement captures a company’s purpose and showcases it to the world by articulating the ‘why’ and the ‘how’ of the business.
Due to this, there is a lot riding on a mission statement as it’s a powerful tool for guiding decision-making, creating company culture, attracting and retaining employees and customers, guiding marketing and advertising decisions, and building a strong brand.
Your company’s mission statement should serve to keep everyone in your company together and working towards the same goals. With a clear mission statement, you’ll be able to create a scalable and repeatable operating process which will enable your business to grow and thrive. Without a clear mission statement, you may experience communication breakdowns, inconsistencies and chaos as you try to grow your small business.
Building your mission statement
Sometimes companies will combine their mission and vision statements, and while these are two different ideas, a mission statement defines objectives and how they will be achieved and a vision statement speaks to the future of the business, there is no right or wrong way to do it. A good place to start is by taking a look at the mission statements of the brands you’re expecting to compete with so you can draw inspiration from them, and if needed, you can also use a template to get started.
Some brands may choose to focus on how their company impacts the world, while others may choose to define what their company does and how it benefits their customers. It’s important to keep in mind that the versions you’re seeing, especially from larger companies, are the polished and perfect versions. Which is why it’s key to not get hung up on perfection, your mission statement will be unique and reflect your company.
Writing your mission statement
Creating a mission statement can be a powerful exercise, resulting in deep thinking and debate. This will ensure you’ve got a clear vision for your company, including its values, direction and vision for the future. If you’re planning to make this decision with a partner or your team, then laying out the process ahead of time can make sure all parties are engaged and the debate is constructive.
Deciding on your approach
While you may not want to involve every person in your company, you will need to decide which parties you want involved in the creation of your mission statement. Ideally, this should include everyone on your leadership team, and you may also want to include customers, board members, advisors, and other key team members. Having a diverse group of people involved will be able to offer a variety of perspectives on the company.
Make sure you set aside some time to discuss and debate the direction of the mission statement but don’t leave it too open, you’ll want to define the process and the desired outcome. If you’re in a small company, then you may only need a couple of hours with three people to draft your mission statement. For a mid-sized company, particularly for those with several stakeholders, there will need to be strategic planning, and maybe even outside involvement to ensure all perspectives are considered and included.
Breaking down your mission statement
So, when you’re crafting your mission statement, there are a few basic elements that will help it stand out and deliver what you need it to.
The purpose of your company
This step should go beyond just stating exactly what your company does, this should also detail the impact of what your company does. What is the purpose that drives your company, and what wants or needs do you fulfil for your customers?
How does your company work?
What sets your business apart from others often comes down to the way in which your company operates. Whether it’s sustainable sourcing, commitment to diversity, working through partnerships, providing extra convenience or cost-effectiveness, or showcasing dedication to customer service.
Who are your current and target customers?
When crafting your mission statement, make sure you know who your current and target customers are. And by identifying who your customers are in your mission statement, you’ll make it easier for your customers to identify with your mission.
Making your mission statement resonate
Keep it clear and concise
Ideally, a mission statement is no longer than two to four sentences and doesn’t exceed 100 words. This is the central focus of your business, something you’ll want employees to consider every day. By keeping it clear and concise it’ll be easier for them to keep it top of mind, and it’ll be easier for customers to understand and remember too.
Keep it simple and approachable
Your mission statement should be understood by everyone who reads it, you don’t want to make people think, piece information together, or have to look up a word. Keeping it simple and approachable means your employees and customers are more likely to remember and identify with it.
Keep it engaging
Using powerful verbs can help trigger emotional responses, like ‘empower’ vs ‘enable’, ‘challenge’ vs ‘question’, or even ‘discover’ vs ‘find’. Using power words in your mission statement can influence how your employees and customers feel and engage with your mission statement. Consider how you want them to feel about it and look up some power words that you can then incorporate into your statement.
Actioning your mission statement
You’ll know you’ve got a well-crafted mission statement because your employees, partners and customers identify with it, and it resonates with them. It’s a valuable asset to your business, so try incorporating it into as many places as possible, like your website, social media, advertising, and internally for your employees to see on a regular basis.
Your mission statement shouldn’t have to change often, but as your business grows to reflect the world around it, your statement may also have to evolve. If you’re using it as a guide every day, then it’ll be easier to identify when it needs to be reworked, and if that’s the case then you’ll know your mission statement has served its purpose, and you’re ready to create another one.
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