Here is the Business Mission Statement Complete Guide.
Are there certain brands that entice us to return again and again? Compared with alternatives, why do we choose to invest more time, money, or effort into them? Is it the price that matters? Maybe you like it because it’s convenient? Does it go deeper than that?
Those brands and companies with whom we connect go beyond supplying goods and services. This group demonstrates a purpose, a mission that we can all support. They show this in how they and their supporters interact with customers, in the way they develop their products, and in how they support charities and communities. A well-written mission statement is the best way for an owner of a business to describe their purpose.
Mission statement: what is it?
The company’s mission statement explains what the company is all about in simple terms. The mission statement provides an overview of the company’s goals, functions, and the benefits that your company offers to customers, employees, and owners. Your mission statement offers an explanation of what you do and why you do it.
It is possible that your mission statement is even broader than that, depending on what your business does. You must take the time to think about how you serve not only your customers and employees but also the wider world where you plan to establish a business in the future. A vision statement can be a way for some corporations to express their larger aspirations.
How do you create a vision statement?
As the name implies, a vision statement describes what one wants to achieve. Vision statements describe what your company aspires to become, and what direction it is heading in.
The larger objective, in terms of your OKR’s (objectives and results), would be this. You should define your mission thus, defining what critical steps you must take to fulfill it, and what results in you must achieve. It’s common for a business’s mission to be expressed in a broader way via this type of statement. In that sense, the statement is not inherently impossible, but rather it is something that you will push yourself to achieve, as well as your business.
Mission statement or vision statement is there any difference?
Both statements cannot really be interchanged. Your business’s goal and purpose are both reflected in both of them, yet their objectives are completely different. In order for your vision statement to be realized, your mission statement must serve as a roadmap. A vision statement serves as the guiding light of your company.
This can either be a separate statement for each department in your business, or they can all be incorporated into one. It may become more worth it to develop variations of all three overtime, as you can use them for different business purposes.
A final note about variations: Your business will probably evolve and grow as you do more and more. As a result, you shouldn’t hesitate to let your mission statement change when it seems necessary.
What is the purpose of writing a meaningful mission statement?
The fact that a mission statement is often included in a business plan doesn’t necessarily mean you should create one. You shouldn’t bother with anything that isn’t going to be useful to you and your business. Almost all mission statements don’t have any real meaning; they may be used for pretty much any business.
If someone suggests you write a mission statement, be cautious not to do so just out of pity. It is a point of humor for some sites that vague, high-sounding mission statements mean nothing. A mission statement will help you clarify your business goals, help your employees and investors recognize what your organization stands for, and help your customers get a better understanding of what you are all about.
Why is it beneficial for your business to have a mission statement?
By defining the business’ mission, you focus employees as well as your target audience on what matters most. It provides a platform for establishing the brand, giving everyone involved a starting point from which to work. By differentiating the company from its competitors, it allows consumers to make a purchasing decision.
Even though Google is mostly known for its search engine, it does not include that in its mission statement. The company can grow into the conglomerate it is today because its scope is wide enough.
Mission statements are meant to accomplish what?
In a mission statement, the company should state its purpose and explain its uniqueness.
During an emergency, they exist to reduce and prevent human suffering
What makes them unique is that they leverage volunteers’ and donors’ generosity
Creating an effective mission statement
You can define the company’s goals, ethics, culture, and decision-making standards by writing its first mission statement, or by revising an existing one. It’s easy to get caught up in the daily routine of running a business, but taking a moment to refresh your mission statement will help you remember what’s most important: Your team has a mission.
How can a mission statement be put together in the most useful way? There are five steps involved in constructing an effective mission statement.
1. Write a story that will define your market
Market-defining stories explain the need or desire, or, as the jargon goes, the so-called “why to buy.” They give you the ideal customer or “buyer persona.” Lastly, they describe how your business differs, or is unique. By eliminating the things, a business isn’t, simplifies thinking about it.
Consider the decision that a real person makes to buy your products. What is the reason behind their desire? What were their first impressions of your business? What is the benefit to them? An in-depth story is always better than a general one. In general, the more concrete the mission statement, the better.
The mission statement does not directly state this. This is an essential piece of the mission statement to keep in mind as you write it. It’s between the words in the background. Making a list of what your business does and does not is a good place to start if you’re having trouble getting started.
2. Provide a detailed description of your company’s services to customers
Consider including your good deeds in your mission statement. Identify the unique selling point of your business for your target customers by tracking the market-defining story you tell.
Be conscious not to underestimate your business: You don’t have to cure cancer or reverse global climate change to make a positive difference. For instance, by offering reliable auto repairs in your neighborhood that are tailored to your specialty, you are doing something right. Having excellent organic and local food in your neighborhood or even near your home, at a price premium, falls into the category of slow food.
Putting this in writing contributes greatly to your mission statement, which is an important part of it.
You should also mention your company’s good deeds here. Businesses that claim to be good for the world need to differentiate themselves from other businesses that make similar claims. Consider adding the words “green” or “clean” if it’s really true and if you’re committed to it. Keep your talk on the topic and avoid blabbering on about unimportant or untrue subjects.
3. Your company’s employee benefits should be defined
It is essential that businesses provide a good work environment for their employees, or they will not be able to survive. It is more economical to retain employees than to replace them. Culture is important for a company. It is important to reward and motivate employees. The mission statement of your business can introduce your employees to what you have to offer them.
Defining why an organization is beneficial for staff is more important than merely saying so; you must prove that fact.
It is crucial to emphasize certain qualities, such as fairness, diversity, respect for creative ideas, empowerment, and various other factors. The general goals of every company are the same, but come up with a way to differentiate yourself by coming up with a factor that differentiates you.
You don’t have to be unique in every way
Having this part of the mission statement in the statement creates a problem. The mission statement is helpful for all parties involved in establishing what the company’s goals are and what it wants from its employees. However, it’s challenging to do that without falling into the trap of saying everything that every other company says.
In a mission statement, mentioning that fair compensation is a core value, that training is essential, that a healthy, creative work environment is valued, and that diversity is respected is probably a good idea. The mission statement serves as a reminder for owners, supervisors, and workers alike, and as a way to enforce the goals of the organization.
Write a mission statement that emphasizes your relationship with employees if you have a particular view. Put your company’s mission in line with its ability to accommodate families and virtual workplaces.
Employees might not be the most important factor
The mission statement rarely contains this kind of information. Customers are the focus of the vast majority of messages. There is no standard recommendation here. Despite its uncommon nature, it is a good practice.
4. Describe how the business provides value to its owners
As part of our business school training, we learned that the mission of management is to enhance the stock price. Stocks are also owned by their holders. Business is clearly intended to enhance the position of its owners financially, as some claim, and maybe they’re right. The buzzwords “share value” and “return on investment” are only relevant to a small subset of businesses.
The inclusion of employees is another unusual element, as is the suggestion to include employees in the proposal. It is rare for mission statements to include this. Since the majority of mission statements are outward-looking, aimed primarily at customers, it is understandable why only a small part of business buzzwords is devoted to “share value” and “return on investment”. Although some of the best mission statements contain a broader sense of mission that may also include, or at least imply, a sense of ownership.
5. Discuss, digest, cut, polish, review, revise
In addition to serving multiple purposes and defining objectives, a good mission statement lasts for decades. So, edit. It is worth taking this step.
Publish a general subset of your mission statement for the public, while developing a full mission statement for internal use. This is a common occurrence. It is common for companies to segment their mission statements into different sections for different kinds of goals. Bullets or sections may be used if that is more convenient for you. The fact that they are often used together or are redefined to fit the context of each organization explains why people confuse mission with mantra and vision. It is a company’s commitment to its customers that is often called vision, regardless of a formal definition.
Whenever writing a mission statement or any business writing, remember that form follows function. Your business can benefit from it. You can also avoid it altogether. It is often called the company’s efforts on behalf of its customers, whatever the formal definition is, the vision, which is often understood by its employees and customers.
Substitute specific terms for generic ones
Be aware of the hype and buzzwords that everyone uses as they edit. Take out any material that doesn’t pertain directly to your business, except for certain rules and reminders that may be unique to your business. Unique in itself, as the word implies, means one-and-only. You should only use it sparingly. Phrases like, “perfect customer service,” “best in the world,” “world-class,” and “the best in the industry” mean little because they are thrown around a lot. It is much harder to provide excellent customer service than to write that into a mission statement.
Make your own mission statement that relates to you and not any other company. Read other companies’ mission statements, but make your own that is unique to you. When you write something that doesn’t align with the truth, your employees and customers will soon spot the lie.
Take a moment to listen. Listen to other people’s opinions and show drafts to them. Rather than argue or attempt to convince them, let them speak for themselves. Rather, just listen to them. Edit again after that. You will need to review it and revise it throughout the lifetime of your business. Likewise, there is no need to write down your mission statement and tuck it away in a drawer, as it should never become a piece of stone that is bound to change. Adapt to changes as necessary, because they never stop. If you write something, make sure it is true. Those who work for you and your customers will quickly spot a lie.
An Excellent Mission Statement Contains the Following Elements
Be sure to emphasize these five elements in your statement.
Value – How valuable is the company to both employees and customers?
Inspiration – How can the company inspire people to work for it?
Plausibility – Voice your belief as plausible as possible
Specificity – Make it relevant to the company
Value – To produce and promote the best product and services for the customers
Examples of Great Mission Statements
You may find some inspiration below to help you start building your own mission statement. These statements belong to some of the great companies around the world.
1. Southwest Airlines
Providing the highest level of customer service is Southwest Airlines’ mission. We pride ourselves on the warm, friendly, and family-like atmosphere we provide.
Southwest’s mission statement is interesting due to the fact that they do not refer to getting from A to B as part of their objectives. Currently, this can be seen as an average experience, which is how they differentiate themselves. In addition, they put emphasis on their own employees and their “spirit of the company”, not just their customer service.
2. Starbucks
We are here to inspire and nurture the human spirit one cup at a time – in one person, in one neighborhood, and through our work.”
As part of its mission statement, Starbucks outlines its core values. In essence, this statement describes how the company serves its customers, how it grows, and how they collaborate with employees. You can read their values on their main website as well.
3. Urban Outfitters
We are a lifestyle retailer that is committed to inspiring customers through our unique creativity and cultural expertise and many years of experience. In 1970, Urban Outfitters opened a store right next to the University of Pennsylvania. Today, the company operates more than 200 stores in the U.S., Canada, and Europe. Customers enjoy experiential environments and a well-curated mix of clothing, accessories, and home products.”
At Urban Outfitters, the emphasis is on delivering a great experience and focusing on what they do. The look of their stores is guided by what their mission is: to inspire people. Additionally, they pay homage to their heritage of starting small and growing.
4. REI (Recreational Equipment Inc.)
The Recreational Equipment, Inc. (REI) believes that spending time outside is an enjoyable component of life. As we believe we are at our best when we are in wild, untamed places, our mission is to help people develop a lifelong interest in the outdoors.”
The mission statement of REI is mostly focused on the company’s desire to serve its customers, but there is a hidden commitment to preserving the environment within it as well. Their focus on “getting outside” is what makes them stand out from other companies in the same industry.
5. Slack
Simplify, improve, and make work-life more pleasant.
In spite of its short length, Slack’s mission implies a lot. Work doesn’t only mean what their customers do, it also means what they do as an employee. In addition to being used internally, their mission statement is used externally as well.
6. Walgreens
The mission of Walgreens is to become America’s favorite pharmacy for health, beauty, and well-being products. Its goal is to promote the right of everyone to be happy and healthy.
The mission statement at Walgreens is a great description of what the company wants to accomplish, and in what product categories they want to accomplish it. Additionally, they discuss “everyone’s right to be healthy and happy.” which is also related to their broader purpose.
7. Patagonia
“Our mission is to save the planet.”
One of those short mission statements that says so much more than you might expect. The first thing that comes to mind when looking at Patagonia is that the company does not identify itself as a non-profit. Then they will be able to reach the goal of saving the planet only if they have a strong, healthy business. As a company, they adhere to a mission that affects their employees, their customers, their products, and their activism.
8. The Coca-Cola Company
It is time to refresh the world. “Be the difference.”
The Coca-Cola Company goes a little differently with a mission statement and then a vision statement. Their mission statement is essentially their purpose, and it says a great deal despite the shortness of the statement. The company strives to make a positive impact in individuals’ lives while also refreshing their bodies. The vision of the company also implies that they wish to serve the whole world’s population, which ties in with their objectives as a company and as shareholders.
9. IKEA
Our mission is to provide well-designed, functional home furnishing products at prices that are so low as to be affordable by as many people as possible.”
Meanwhile, Ikea’s mission statement starts with something that any company could use. ” This statement continues to define a second mission which is to provide products for many people as possible.
FAQ’s
Below are some important questions to keep in mind before writing a mission statement.
1. What is the purpose of the business you are currently into?
In what way do you want to improve your life, that of your family, and that of your customers? Consider what inspired you to launch your product. Is there anything that can keep it burning?
2. What type of customers do you serve?
How can you help them succeed in the present and in the future by enriching their lives?
3. How would you like your business to be perceived?
Customer, supplier, employee, and public perceptions will all impact your business. What is the best way to make the picture you want?
4. How would you describe your product and service offerings?
Price and quality depend on what factors? You should consider how these factors relate to why your business exists. Is there a possibility that things may change in the future?
5. Does your company provide good customer service?
It’s common for companies to claim they offer “the best services,” but does your customer base agree? Defining what makes your service so extraordinary will make it easier for your clients to understand.
6. What sets you apart from your competitors?
Several entrepreneurs forget that their competitors are also trying to make money. How do you beat your competitors in quality, price, or speed? What can you do to take advantage of your competitors’ weaknesses?
