Written for SPAN Enterprises
Every business strives to make a name for itself. Your name is your identify and what people think about when they see your logo. It is what sets you apart from the crowd and draws others in your direction. In order to hone in on what really makes your business tick, spend some time cultivating a mission statement that truly aligns with your business purpose.
Having a mission statement helps customers, employees, other businesses, partners, and potential investors understand your brand.
For customers, it gives a look inside at why you create a particular product and how it matters, which helps them decide if it fits with their needs and values.
For employees, it provides a vision to focus on and an idealism to live up to when considering short- and long-term business goals.
For other businesses, potential partners, and investors, it shows your value — giving them reason to work with you or view you as a competent competitor.
Simply speaking, a mission statement should explain who you are, what you create and stand for, and why you do it. Often the “how you do it” can be included as well—as long as it’s something completely unique in comparison to other business practices.
Take action and make a name for yourself before someone else does it for you. Follow the checklist below to make sure your business mission statement stands out.
Why do you exist?
When you set out to create this business, what did you see that was lacking? What gap does this company fill? What consumer demands are met? How does it relieve stress or create more success for the user? The answer to this question is the meat of your business and clearly defines what role you play in the business world.
Define core company values.
Is your business on the cutting edge of technological innovation? Does it feed the user’s creative needs or bring more safety and security to their home? Do you work to create a healthier environment by implementing certain business practices? Do you reward customer loyalty? Examine the way you work and the products you create to determine what values should be associated with your business.
Layout business goals.
Do you plan to create products and sell them to other businesses? Do you plan to start with one product and become a niche empire in five years? Do you want to partner with other businesses to create solutions for their work processes? Think about where you started and where you plan to go. This shouldn’t be as specific as laying out the plan to white label for X no. of businesses, but it should let the reader know that you have high hopes of developing industry-specific products that will manage all objective-specific needs.
When writing the mission statement, make sure to target all sides of the business. This should be written for everyone aforementioned — customers, employees, other businesses, and potential partners and investors. A good brand has all-encompassing qualities that leave everyone feeling like they’ve been included in the business model.
Set intentions for greater good.
Does your company create eco-friendly goods? Do you donate products one-for-one to people who need but cannot afford them? Do you make products using ingredients that will not have a negative effect on the consumer’s health? Evaluate how what you create creates a better quality of life for others.
Show some flair.
Can you cultivate an anecdotal story line about your products? If not, maybe the niche market already has a characterization that you can lean into for inspiration. The best brands have personality and aren’t afraid to flaunt it.
Include philanthropic interest.
Many businesses show their merit through action. Do you donate a portion of the proceeds to a particular cause? Is their a foundation arm of the company that educates children or provides for underprivileged families? Not all companies are able to invest in philanthropic efforts; however, if you find a way to give back, this will speak volumes for your brand. It is definitely worthy of a mention in the mission. After all, a mission that does good for others creates an impact far beyond anything you can sell.
Take ownership of your identity by asking yourself the above questions and include them in your business mission statement to create an effective and purposeful business model. It will help others define you and remind you of what got you started in the first place.