Mission statements… what are they? Why have them? Why does it matter? Because it defines your company’s purpose and personality— so every business owner should write one early on. It should summarize why you exist and what you do. There’s no need for it to be lengthy, in fact make it as brief as possible—the details that underpin it should be mapped out elsewhere. Here are several reasons why they’re important here are several crucial principles your company’s mission statement should explain:
1. WHAT WE DO: This gives your organization a sense of direction and should define what makes you unique. Don’t be generic, focus on what it is that you endeavor to do differently than your competitors.
2. HOW WE DO IT: What is the culture of your company? What do you stand for internally (concerning employees) and externally (for customers and community). This will also provide your staff and customers with a clear summary of expectations. Often employees can suffer from feeling a lack of purpose in their job… just another cog in the wheel. With a succinct mission statement that everyone can get behind, employees feel inspired and more invested. It encourages all to work harder toward a common well-defined goal, improving productivity and in turn profitability and defines to customers how they can expect to be treated.
3. KEEP IT CURRENT: A clear mission statement can provide the blueprint for your decision making process, keeping you committed to your founding principles. However, it should never be set it stone. It’s all about now, not necessarily the future. Your company’s priorities and focus may change over time possibly due to an economic shift or major changes in government policy. If this happens, you need to evaluate if your current mission statement still rings true and amend it if necessary to reflect current objectives.
4. IT LETS EVERYONE KNOW YOU’RE A SERIOUS BUSINESS. Having a mission statement on the wall shows you care enough about your business to define know exactly who you are. Showing that you’re professional and organized conveys credibility.