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Learn what a mission statement is, why you need one and how to write the perfect one for your business.
Developing a mission statement is a lengthy process that involves the input of team members who fully understand your business, employees, customers, industry, and the products and services your company provides.
Once completed, your organization can share its mission statement so consumers, employees, investors and other stakeholders know precisely what your organization does (or doesn’t do), what it values and why it exists. Often a mission statement can help clarify an owner’s ideas about their business’s “whats” and “whys.”
We’ll explore mission statements, why companies need them, and how to craft the perfect mission statement for your organization.
A mission statement is a declaration of what your company does and why it exists. This message is designed for internal and external audiences; it should ignite interest in the organization as it builds its brand.
The best mission statements have two primary objectives:
When creating your mission statement, you’ll need to understand its essential components and ask probing questions to define precisely what your organization does and how. Finally, you’ll need to outline your organizational mission so it’s clear to everyone reading it.
According to Chris Bart, a retired professor of strategy and governance at McMaster University, a well-written mission statement has three essential components. Address each of these components when creating your mission statement:
While incorporating the essential elements, ask yourself – and your team – probing questions to truly understand who your business serves, what your organization does and how it works. Here are some questions to start with:
Creating an accurate, inspiring mission statement isn’t purely a philosophical exercise. It has to be practical, too. A mission statement must make sense to those who read it, whether they know about your organization or not.
Keep these four tips in mind as you define your organizational mission:
Since your mission statement helps define your business, getting it right is crucial. Avoid these typical mistakes:
Effective mission statements are succinct and thoughtful.
When companies don’t have well-constructed mission statements (or any mission statement), customers, potential customers and the public are forced to identify for themselves what the company is and why it exists.
Mission statements and vision statements are both crucial, but they have different objectives. A mission statement is focused on today, while a vision statement is focused on the future – what you want to become and how you want to impact people.
Here are some questions that will define your vision statement:
To help understand how mission statements and vision statements differ, compare Airbnb’s mission and vision statements.
Here are examples of effective mission statements from well-known brands. These mission statements briefly define the organization, its purpose and its impact on humanity:
To get started, start tossing around words with trusted stakeholders. However, remember that you’re not looking for what “sounds good” as much as gaining clarity about what your business does. Brainstorm with others in low-stake sessions and see what language resonates with your brand.
Remember that sounding good is important, but first you must define yourself. If your mission statement includes a nod to your business’s philosophy, values and culture of ethical behavior, the more benefits you’ll reap.
As with any other business plan or project, you may need to explore dozens of ideas before landing on your best fit.
Patrick Proctor contributed to the writing and reporting in this article.
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