Capturing the essence of your company and phrasing it in a clear, concise manner is an important part of brand development and communicating what your overall purpose is. One way to accomplish this is by developing a mission statement that expresses your philosophy, values and goals in a neat and tidy package.
What is a Mission Statement?
The Small Business Encyclopedia on Entrepreneur’s website defines a mission statement as, “A sentence describing a company’s function, markets and competitive advantages; a short written statement of your business goals and philosophies.” In other words, it’s a brief sentence that encapsulates everything that your business is about in a way that’s easy to understand. Here are some examples from notable brands:
- Google – “To organize the world’s information and make it universally accessible.”
- Nike -“To bring inspiration and innovation to every athlete in the world.”
- Facebook – “To give people the power to share and make the world more open and connected.”
As you can see, a mission statement is quite simple and nothing overly exhaustive or complex. It simply explains a company’s aims and objectives in a quick, easy to digest sentence.
There are three main purposes of developing a mission statement. First, it gives consumers and stakeholders a clear understanding of what your business’s agenda is. Second, it helps to distinguish your company from other competitors within your industry. Highlighting the subtle differences is an effective way to differentiate yourself from the masses.
Third, a concise mission statement plays a key role in branding and establishing a unique identity. Due to the level of competition that many businesses face these days, having a distinct brand has become incredibly important — and a mission statement is the perfect way to carve out a niche.
Developing a Mission Statement for Your Business
Coming up with a mission statement starts with some brainstorming and posing some key questions. A post on the Kinesis website concerning leadership suggests asking the following questions:
- What do we do?
- For whom do we do it?
- Why do we serve our clients in the way that we do?
- How do we serve our clients in the way that we do?
- Why are we in this industry?
- Why did we start this business?
- What image of our business do we want to convey?
Once you come answer these questions, you should have a better understanding of what your specific goals and objectives are. When creating a sentence, make sure that it’s brief and to the point. Also try to use plain, everyday language that people will understand across the board. Finally, try to avoid using generic terms like “to offer great customer service.” Instead, try to be precise and focus on specific details that differentiate your company from others.
Although developing a mission statement is fairly quick and easy to do, it can have a profound impact on your business. By injecting your personality into it, you can stand out from the herd, boost your brand and become an influential business in your industry.