Company Mission Statement
What is a mission statement, and how can you write one for your business? If you’re getting ready to launch a company and stumbled upon the info that you need to craft an excellent mission statement, this is your lucky day! In today’s blog, we share everything you need to know about mission statements, including what they are, pros, cons, how to write one, things to avoid, and much more.
What Is A Business Mission Statement?
What is the mission statement definition? This statement is a short, one or multi-sentence paragraph that emphasizes your business’ purpose that pushes it forward.
How Does It Work?
The definition of a mission statement might be simple, but the purpose it serves is complex and essential for all companies. There are numerous reasons why significant brands decide to spend thousands and even millions on drafting the best possible statements and making their brand presence even stronger. What’s even more interesting is that most of these short statements eventually become a part of the company image and logo, and they’re recognizable everywhere you go.
A mission statement won’t only emphasize your goals, core values, products/services, and the way you plan on making the world a better place, but it will also serve you and the employees as a guide towards the future. This statement is a moving force for founders and shareholders because it includes clear future goals to follow.
It might be a short paragraph, but this statement includes what your brand does, how it does things, and the reasons why you offer these products or services. With this information, you get much closer to your target audience and give a clear picture of your company.
Why Write A Mission Statement?
There are so many reasons why all business owners focus on crafting an excellent and concise company mission statement. Since we’ll go in-depth about the benefits of these statements in the following section, let’s get a quick look at the reasons why you should learn how to write a mission statement.
- Separates you from the competition
- Lets you discuss your company’s purpose, goals, values, and mission
- Talk about the product/services you offer
- Provide general info about the company
- How your values and goals apply to the employees, the community, and the world
- Paints a clear picture for your audience
Now that you know how to define a mission statement, it’s time to get familiar with the advantages, drawbacks, mistakes, and how to put together a great statement.
Advantages And Drawbacks Of Mission Statements
Which benefits can you expect to gain from a great corporate mission statement? Conversely, are there any drawbacks you should know about these statements? First of all, each business owner has to craft a successful mission statement because the advantages outweigh the weaknesses.
Aside from helping you explain to your audience what your brand is about, the products/services you offer, and how your company started, it also allows you to talk about your goals. Customers love brands with a vision, and they will feel more compelled to help you in your mission. Let’s not forget that it will remind the audience why you’re different from the competitors and why to invest in your products.
Another huge advantage is that the statement will motivate you to achieve your goals and plan even more advanced long-term ones. When the audience reads about your values, they will feel even closer to your company, knowing that you share the same core values and that you’re worth supporting. The statement will also motivate your employees to work hard to help you achieve the goals and follow the same values right from the start.
These statements come with certain drawbacks that aren’t as notable as the benefits, as we mentioned before. However, if you educate yourself on creating a great statement or get professional help, the chances are there won’t be any significant drawbacks. For example, one of the biggest disadvantages businesses can notice from a bad mission statement for business is setting goals that are almost impossible to reach. Although it’s great to have a clear vision and set your bar high, the goals should be reachable in order to motivate your employees.
If the mission includes unrealistic goals, the employees might get too worked up to achieve them and abandon the brand’s core values on the road to success. This is something that should never happen; therefore, our advice is to set clear, achievable goals, which you can revisit any time in the future. The mission statement you’ll write isn’t fixed; instead, you should review it after a while and change it if necessary.
Since we’re talking about cons, we have to mention another one. Investing in a statement and not getting what you expect means that you’ll be wasting your hard-earned money on a statement that won’t give back. So, if you plan on hiring someone to create it, you should be very clear with your expectations and give them enough information to work with.
Finally, crafting a statement isn’t something you do in minutes. It takes work, dedication, and goals, values, products, and company mission. It might be only a few sentences, but it has to represent your brand and what you stand for.
Drafting A Mission Statement
What does a mission statement include? After reading these few simple steps, you’ll feel much more secure about drafting one without anyone’s help:
- Write Down The Basics
Grab paper and a pen and start talking to people. Get in touch with your employees, partner, and anyone else involved with your business. You need to get their feedback regarding the purpose of the company, goals, visions, values.
You need to answer three very important questions:
- What does your company do?
- How do you do it?
- Why do you do it?
- Combine Everything Together
Answer the questions, covering each one in a sentence. Together they should create a concise paragraph that says a little about the company, its purpose, goals, and values.
- Review It
Once you’re done writing the statement, read it out loud and review every detail.
- Introduce Changes
Your mission statement isn’t set in stone. Therefore, you should review it once in a while and see if you need to introduce changes depending on your goals, values, and even purpose.
Common Mission Statement Mistakes To Avoid
Now that you know the importance of this statement and how to draft it, here are some common mistakes most business owners make:
Although the statement should be fun to read, it shouldn’t include jargon or only temporarily popular words. This is a professional statement that describes your business, its purpose, and the goal is for people to take you seriously. For this reason, ensure that the sentences are easy to read and convey a clear message.
Bland And Boring
Always go for an attention-grabbing statement that will be fun to read. It should be on-brand with your company and represent its personality. For example, if your voice is usually giggly, fun, then you should add a dose of it in the statement. Everyone loves a witty sentence that captures the reader right away.
You should definitely list your future goals but in an innovative way. Avoid just listing what you want to achieve. Instead, you can share a few hints about the hard work of your employees and your strategies.
Examples Of The Best Mission Statements
What do good mission statements look like, and will it be easier to write one if you see examples? The answer is definitely YES, so we included some excellent examples you can follow when composing yours.
- Sports Brand
Nike is one of the top sports brands globally. Their statement focuses on two words: inspiration and innovation. That’s what they do best, so they decided to include it in their mission statement because it’s also what people love.
- Clothing Brand
The world-popular clothing brand Urban Outfitters has a capturing statement that gives general information about the company, what they offer and their purpose. This is an excellent example to learn from because you can accent your beginnings and emphasize growth. The brand also mentions the word inspire, which is definitely a great idea.
Sony is another company to learn from. Their statement shares a glimpse of their passion for what they do, and how their products are multipurpose. As a result, they don’t only serve a single purpose but also spike the curiosity of customers.
- Coffee Company
Starbucks’s purpose is to nurture and inspire the human spirit of every single person. Their message is inclusive and exactly what people need when they talk about coffee.
- Food Company
Walmart managed to put all they had to say in a single short sentence. Although brief, it’s still a powerful one because it solves people’s problems. According to the company, they save their customer’s money and help them live a better life.
- Airline Company
Virgin America goes straight to the point with their statement, revealing that they have the best service, new planes, excellent amenities, and the best domestic flights.
Did this blog help you learn what is the mission definition in business? If it did, our job here is done! If not, we really hope you’ll go over the content again and become more knowledgeable about the topic as a new business owner. Mission statements are an essential part of your marketing strategy, so the more you pay attention and time, the more beneficial they will be for your brand.