101: Mission statements
Company mission statements define a company's objectives and its approach in the markets it serves, providing a focus for operations. (Mission statements are different than vision statements, which lay out where the company looks to be in the future.) Here are a few tips on creating a business mission statement for your company.
Get help, but don't re-invent the wheel. Write down the purpose of your company. Then have two or three of your colleagues do the same. Together, review the sentences, collaborate and create one you all can agree on. “Your mission statement doesn't have to be clever or catchy – just accurate,” says Entrepreneur.com.
Focus on the Big 4. Patrick Hull of Forbes says that including these four questions in your mission statement considerations will ensure it is complete: What do we do? How do we do it? Whom do we do it for? What value are we bringing? He gives Advance Auto Parts' mission statement as a good mission statement example: “To provide personal vehicle owners and enthusiasts with the vehicle-related products and knowledge that fulfill their wants and needs at the right price. Our friendly, knowledgeable and professional staff will help inspire, educate and problem-solve for our customers.” “The company has clearly laid out the answers to those essential questions,” says Hull.
Mission statement established? Spread the word. The mission statement is ultimately a framework of your business planning. It should be on your company website and can be a cornerstone for marketing. It should be communicated to customers, as well, writes Susan Ward at TheBalanceSMB.com. “It's also the statement that explains to them why they would want to do business with you,” she writes. “You'll want to put it to work right away.”
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