Mission Statement
Candlefocus EditorA mission statement is a powerful and concise expression of a company’s purpose or cause. Think of it as the Higher Purpose of the business – the underlying intention that drives your operations and decisions. Many business leaders confuse a mission statement with vision statements and slogans, but there is a distinct difference between them.
Mission statements come in all shapes and sizes, from the simple and concise one-sentence version to longer paragraphs detailing the company’s culture, values, and ethics. A mission statement should act as a North Star – something to use for guidance in making decisions and setting goals.
The Purpose of a Mission Statement
A mission statement indicates the reason why a company is in operation and what it hopes to achieve. A good mission statement should inspire employees and serve as a reminder of why their work matters. Additionally, by operating with intention, the mission statement is often used to ensure that the organization adheres to a certain code of ethics or values.
For investors, mission statements can provide reassurance that a company has defined its purpose and is likely to execute according to plan. Potentially profitable projects are often discarded if there’s a disconnect between the venture and the company’s mission.
Crafting an Effective Mission Statement
Creating an effective mission statement requires research, but ultimately it’s a matter of distilling your company’s “essence” into a few words or sentences. There are several ways to go about it.
To start, consider how your company affects customers, donors, investors, or the community. For example, a clothing manufacturer might want to “provide fashionable, affordable garments with quality fabric” to its customers. Or, a tech startup might pledge to “create innovative products that simplify our users’ daily lives.”
Next, create a draft by referring to the company’s core values, and the reason why it exists: what long-term benefit will it provide the company’s customers? Use language that expresses passion and prepares the company’s stakeholders for a meaningful journey.
Finally, edit and refine the mission statement until it’s clear, simple, and provides the right information. It should not be overly complex or difficult to understand.
Conclusion
A mission statement is an essential part of any business, setting out the company’s purpose and providing a framework for decision-making and goal setting. It’s important to craft an effective mission statement that is both simple and inspiring so that it can be used to guide the business in the right direction.