Saturday, April 14, 2018

Why is a Mission Statement important for a new Business?

The mission statement serves as a “Guiding Star” that keeps everyone clear on the direction of the organization. Business owners should use this statement to remind their teams why their company exists because this is what makes the company successful. And as Andy Stanley says, “It’s your direction, not your intention, that determines your destination.” 

Every entrepreneur should write a mission statement early on because they provide you and your employees with the framework and purpose. If you don’t have one, you need to get one. 

An effective mission statement must be a clear, concise declaration about your business strategy. Here are four essential questions your company’s mission statement must answer:

What do we do?
How do we do it?
Whom do we do it for?
What value are we bringing?

If you have a mission statement, make sure it can answer these questions. It makes all the difference.

As an entrepreneur, your company’s mission statement should be concise and specific so your customers understand your purpose and how you provide value to them.

As a quick exercise, check out this list of Fortune 500 mission statements to see which ones answer the questions that we are talking about and which ones don’t.

Here is an example of our mission statement:

"Our mission is to help businesses grow and succeed through our knowledge, experience and design talents, while creating long-lasting relationships."

It’s clear and concise. The mission statement is focused on what the company does for its customers and keeps my employees focused on our objectives.

Your mission statement doesn’t have to look a certain way. Figure out what’s important to you and your clients and write it accordingly.