The Power of a Mission Statement: Guiding Your Business in the Right Direction

It's really surprising to think about it now, but I only understood how important a mission statement is when I was studying strategy in my MBA program. When I first started in business, I had a mission statement, vision statement, and core values. But, I got sidetracked because I was too busy comparing my path to others.

In the fast-paced world of starting and running businesses, where everything keeps changing, and new ideas always pop up, one thing is super important for success: a good mission statement (and vision statement, but I'll discuss that in a different post). It's more than just a few lines on a website; it's like a compass for your business, showing its direction and what it's all about. In this post, we will talk about why having a mission statement is crucial, no matter how big or small your business is.

The Foundation of Identity

A mission statement is all about what your business stands for. It's not just about what you sell or offer; it's about your main purpose – why your business exists in the first place. This clear sense of purpose is really important for everyone involved – your team, customers, people who invest in your business, and partners. It's what makes your business different and real, helping you stand out from others. Think of a mission statement as your business's ID; it shows off your business's character, what you believe in, and what you're aiming to achieve. 

Indeed.com says best in their article on 'how to write vision and mission statements': "It provides a foundation for strategic decision-making."

A Roadmap for Decision Making

When you run a business, you must make many decisions, from big plans to everyday tasks. A mission statement is like a compass that helps guide these decisions. Whenever you have different options, looking back at your mission statement can clarify things. It helps you ensure that every decision you make fits with the main goal of your business, keeping things consistent and honest. Staying true to your mission is really important for earning the trust and respect of everyone involved with your business.

A few months ago, I presented at a workshop on personal branding and urged the participants to write out the purpose of wanting to build their brand. My rationale behind this approach is that when you write out the purpose, there is clarity and focus. 

Before creating content and posting, you'll ask yourself, "Does this align with my brand?" 

If not, you know it's not a direction you should go in. The mission statement is similar to the purpose of building the brand.

It guides your actions and helps you make the right decisions for your business. 

Marketing and Customer Loyalty

Nowadays, people shopping for things want more than just the stuff they buy; they're looking for a connection with the brands they use. A mission statement is a great way to show customers what your business stands for and believes in. This helps create a bond with your customers, turning them from buyers into loyal fans who support and talk about your brand. 

It's about sharing a story that people want to join, making your brand stand out in ways that simple ads just can't do.

If you ever have time, read how TOMS shoes got started. They are going through financial issues, which I have my theory about, but that's a different blog post for another day. 

The initial reason it started and how Blake Mycoskie focused on his mission is powerful. 

It makes me think of the direction God has taken me and the direction I feel him taking you. Of course, this is our career, and for a business to stay in business, we have to have customers, but it starts with a mission. 

God has placed a greater purpose in your heart, the purpose that he designed you for. 

Strategic Planning and Growth

A mission statement isn't just for now; it's also for planning your business's future. It helps you make a good plan with both doable and challenging goals. As your business grows and things in the market change, you can use your mission statement as a check-in point to ensure you're still following your initial plan. 

It's a way to keep your business growing without losing the unique qualities that make it special.

If you need clarification or are scattered, go back and look at your mission statement.

I've noticed that when I'm doing things that aren't working out, it's usually because I'm copying what others are doing and have lost my way.

Like I said earlier, your mission statement helps you stay on track. 

Crafting a Mission Statement

Making a mission statement is a serious job. You need to think deeply, pray, talk it over, and get to the heart of what your business is about, what you want it to be, and what God's purpose is.

It's not about using big, fancy words. It's about getting to the core of your business in a way that's uplifting and down-to-earth. 

The best mission statements are simple, to the point, and easy to remember. They avoid complicated words and vague ideas, and capture what your business is all about.

Try not to overthink it. 

The Living Nature of a Mission Statement

A mission statement should last a long time but can be changed if needed. As your business grows, you must check your mission statement and update it if necessary. 

This doesn't mean you have to change it all the time, but just make sure it still fits your business as it is now and what you want it to be in the future. 

A mission statement that changes with your business shows that your business is flexible and responsive.

In short, a mission statement is more than just words on paper; it's the core of your business. It states your goals, directs your path, and is a commitment to your customers. 

Whether you're just starting out or have been in business for a while, creating and sticking to a strong mission statement is a smart move. It begins your path to success, lasting growth, and making a mark in the constantly changing business world. Think of your mission statement as your business's story – and aim to make it good.

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By: TaNiya Clayton - Business Consultant & Job Interview Preparation Coach

Sources: Indeed.com https://www.indeed.com/career-advice/career-development/how-to-write-vision-and-mission-statement