How to Write a Great Mission Statement by Dr. Susan L. Reid, Small Business Start-up Expert and Award-winning author of “Discovering Your Inner Samurai: The Entrepreneurial Woman’s Journey to Business Success”. Find out more at alkamae.com.
In today’s how to turn your business dream into reality video, we’ll be focusing on how to write a great mission statement for your business.
Why is a mission statement so important? Without a mission statement, your business has no plan, no reason for existence. With the mission statement everyone will know exactly what the purpose of your business is and what your business stands for.
You want to make sure you written a great one? Just follow these guidelines, answer the questions at the end and you will have created a mission statement that is definite and succinct. Sound good to you? Great!
Let’s get started by making sure you understand the basic differences between a vision statement and a mission statement. Despite of what may people will think, vision and mission statements are two separate entities. They answer two different yet complementary questions about your business.
Simply put your vision statement answers the question, where do I see my business going while your mission statement answers the question, why does my business exist? Your mission statement should include the answer to these three key questions. Why does your business exist? What activities are you going to do to accomplish your purpose and what principles or beliefs will guide your work?
Let’s start with the first question. Why does your business exist? This is your purpose statement. It answers the questions what does your business seek to accomplish and what problem or need is your business trying to address. State the answer to these questions sparingly and simply. Here’s a formula. To increase, decrease, eliminate, prevent or improve plus the condition or problem to be change such as to increase adult literacy.
Now for the second question, what activities are you going to do to accomplish your purpose? This is your business statement. It outlines what activities or programs your business must do in order to support its purpose. Ask the question, what are you doing to address the need identified in your purpose statement?
Stated in either bullet points or a short sentence, your business statement often includes the verb to provide and or the words by or through. For example, to increase adult literacy by providing reading assistance to illiterate adults.
The third question is what principles or beliefs will guide your work? This is your value statement also called a code of ethics. This part answers the questions, what are the basic beliefs or values you and your co-worker shares as a whole and endeavor to put into practice as a business?
For example, The Hewlett Foundation’s Board of Directors and staff adhere to these fundamental commitments. To honor the commitment to philanthropy and ethos established by the founders. To act honestly and with integrity in all our transactions and dealings. To treat applicants and grantees fairly and respectfully and these are just a few of their stated values.
Mission statements are usually written in one of these three standard formats. Short statement or slogan such as to give unlimited opportunity to women from Mary Kay Cosmetics. Short bullet point lists as seen previously in the Hewlett Foundation example or a short paragraph.
For example, the mission of Big Brothers Big Sisters of America is to make a positive difference in the lives of children and youth, primarily through a professionally-supported one-to-one relationship with a caring adult, and to assist them in achieving their highest potential as they grow to become confident, competent and caring individuals.
Whichever format you decide to use, remember to keep your mission statement brief. That’s all there is to it. Now that you know the questions to answer, get writing. Make it great! The future of your business depends on it.
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