In business, we often talk about mission statements, but what is it about these short, sharp phrases that matter so much?
A great mission statement helps you quickly define exactly what your business does and who precisely it is suited to – which makes creating one among the most important things you can do for your business, your staff and its clientele.
Here, we take a deep dive into mission statements, including:
- Why they matter to your business, your staff and your clients
- How they’re created
- The ways a mission statement is used to help propel your business forward.
The essence of a mission statement
At the core of every successful business lies a well-crafted mission statement.
It goes beyond a mere statement of purpose; it encapsulates the values, goals, and direction of an organisation. Like a guiding star, a mission statement steers decision-making and shapes the essence of a business.
Unveiling the power within
Contrary to popular belief, a mission statement isn’t just a concise one-liner. Ranging from 80 to 160 words, a good mission statement comprised four to seven paragraphs.
This detailed approach ensures that every aspect of a business’s purpose is clearly articulated.
Why your business needs one
A well-written mission statement serves a variety of purposes within your business. These include:
Clarity and Communication: Your mission statement crystallises your purpose and serves as a compass for both internal and external stakeholders.
It answers any question about your business, fostering clarity and communication.
Direction and decision-making: A mission statement acts as a roadmap, guiding strategic planning and ensuring that every decision aligns with your business objectives.
Employee motivation: By uniting your team towards a common goal, a mission statement instils a sense of purpose and streamlines decision-making, leading to a more productive and harmonious work environment.
A far greater impact
A compelling mission statement not only resonates with internal stakeholders but also extends its influence to customers.
It showcases your values, goals, and ideal customer profile, giving your business a competitive edge and building trust with stakeholders.
While crafting a mission statement may seem daunting, the benefits are immeasurable. This all-important statement becomes the cornerstone of your business.
By clearly articulating your purpose, you not only attract customers who resonate with your vision but also foster a motivated and aligned team. Remember, your mission statement is your guiding light in the business world.
Highlights
- [00:00:23] A deep dive into mission statements
- [00:01:06] The length and impact of a mission statement
- [00:02:12] Why your business needs a mission statement
- [00:05:41] How others have used their mission statements
- [00:05:50] Crafting your own mission statement
- [00:07:05] Where to from here
Resources
Talk Strategy with Clive
With more than 30 years’ experience in mentoring small to medium-sized businesses around Australia. Clive works with company owners and their teams to grow their business and achieve goals through strategic coaching.
