How to Write Mission Statement for Your Business?

All Successful Businesses have Mission Statement.  Have you written a Mission Statement for your business? Maybe you haven’t done so because you don’t know how to. Fret not, below I share with you Practical Tips on How to Write a Mission Statement for Your Business.

The mission statement should be a clear and succinct representation of the enterprise’s purpose for existence. It should incorporate socially meaningful and measurable criteria addressing concepts such as the moral/ethical position of the enterprise, public image, the target market, products / services, the geographic domain and expectations of growth and profitability.

The intent of the Mission Statement should be the first consideration for any employee who is evaluating a strategic decision. The statement can range from a very simple to a very complex set of ideas.

Mission Statements of Well Known Enterprises

The following are some examples of mission statements from real enterprises.

3M
“To solve unsolved problems innovatively”

Wal-Mart
“To give ordinary folk the chance to buy the same thing as rich people.”

Google: “Google’s mission is to organize the world’s information and make it universally accessible and useful.”

Walt Disney
“To make people happy.”
These are the ‘one-liners’, but each is supported by a set of values that set the performance standards and direct the implementation of the mission.
And Walt Disney, an entertainment business states their values as follows.

• No cynicism
• Nurturing and promulgation of “wholesome American values”
• Creativity, dreams and imagination
• Fanatical attention to consistency and detail
• Preservation and control of the Disney “magic”

Many believe that the Mission Statement should have a grand scale, be socially meaningful and be measurable. The following are some examples of historical Mission Statements that were truly grand in scale.

Conclusion

So, when you are preparing your Mission Statement remember to make it clear and succinct, incorporating socially meaningful and measurable criteria and consider approaching it from a grand scale. As you create your Mission Statement consider including some or all of the following concepts.

• The moral/ethical position of the enterprise
• The desired public image
• The key strategic influence for the business
• A description of the target market
• A description of the products/services
• The geographic domain
• Expectations of growth and profitability

Answering the following questions will help you to create a verbal picture of your business’s mission:

• Why are you in business? What do you want for yourself, your family and your customers? Think about the spark that ignited your decision to start a business. What will keep it burning?
• Who are your customers? What can you do for them that will enrich their lives and contribute to their success–now and in the future?
• What image of your business do you want to convey? Customers, suppliers, employees and the public will all have perceptions of your company. How will you create the desired picture?
• What is the nature of your products and services? What factors determine pricing and quality? Consider how these relate to the reasons for your business’s existence. How will all this change over time?
• What level of service do you provide? Most companies believe they offer “the best service available,” but do your customers agree? Don’t be vague; define what makes your service so extraordinary.
• What roles do you and your employees play? Wise captains develop a leadership style that organizes, challenges and recognizes employees.
• What kind of relationships will you maintain with suppliers? Every business is in partnership with its suppliers. When you succeed, so do they.
• How do you differ from your competitors? Many entrepreneurs forget they are pursuing the same dollars as their competitors. What do you do better, cheaper or faster than other competitors? How can you use competitors’ weaknesses to your advantage?
• How will you use technology, capital, processes, products and services to reach your goals? A description of your strategy will keep your energies focused on your goals.
• What underlying philosophies or values guided your responses to the previous questions? Some businesses choose to list these separately. Writing them down clarifies the “why” behind your mission.

Dennis Ng, http://www.HousingLoanSG.com

BNI Renaissance Chapter Education Coordinator