"Where there is no vision, the people perish." - Proverbs 29:18
People start a business because they believe there is some money-making potential in their idea. But if that business is to survive long-term, it must have a reason for existence that is larger than just the owner's profit-motive.
Profit could be defined as the successful results of setting the right direction for your business. Setting a direction involves outlining what you want to be and do, and the standards by which you live and operate. The formal description of this direction is typically called a mission statement.
A mission statement is a short, succinct, inspiring statement, outlining the purpose of your business, its responsibilities and its reason for existence, as well as what it aspires to become. Generally two or three sentences, it serves as a framework for decision-making and creates consistency and focus. It reminds you why you are in this business, and it helps you to stay on the right track.
Good mission statements are made up of three main parts - your vision, your mission, and your values - who you are, what you REALLY do, and how you behave.
A mission statement is long-term. Once it is developed, it will not change much, because a good mission statement is the foundation of your business - what you do, for whom, and why. It could be compared to the U.S. Constitution. We can change it. But we do not change it often, nor do we change it very fast.
A mission statement can be very powerful, playing a critical role in the business. To make it worthwhile, an entrepreneur needs to address three areas - crafting the statement itself, communicating it with staff, and creating a mission-based working environment:
- Crafted carefully - The mission statement should be concise and inspirational. It needs the input of key people in the business. Collaboration will give others a stake in helping the business to succeed, and it also encourages a wider perspective. You can gain valuable input by working with others, making the finished product much better.
- Communicated continuously - Everyone who works for you and with you should completely understand your mission statement and their role in making it a reality. It should be visible - published in newsletters and all written materials, included in trainings and orientations, referenced in staff meetings and other employee interactions.
- Creating a mission-based company culture - When the statement is referenced, it should not be just used as a side note or as a recitation, but rather used as an evaluation for any decision that is made - goal setting, marketing plans, pricing, operations decisions, hiring, etc.
All three areas must be addressed. If the mission statement is not communicated after it is written, it will mean nothing to those that work for you, and it is essentially worthless. If it is communicated, but not integrated into your entire business culture, it may even be worse than worthless, in that it will add a certain level of cynicism to the workplace, ("They say it, but they don't really mean it!") It must be integrated throughout the business.
Living the Mission Statement
A mission statement can set a grandiose vision of a business or an organization, but it can easily get lost in the realities of day-to-day life. It takes an effort to get people to truly buy into the statement.
It must be continually in front of people, but in a way that makes someone think about it. The written statement is important, but it may be more valuable to incorporate what it means into the content of written materials and conversations. For instance, how it relates to how employees go about their daily activities, or how a product or service relates to the statement.
Remember that the statement itself is just the words used to describe the direction of the business, what you want to be and do, and the standards by which you live. It should be prominent in all decision-making, in all your actions, and in how you relate to all employees, advisors, and customers. For instance, use it as a means in evaluating and rewarding employees. Discuss on how you have lived up to it and where you have fallen short in staff meetings, or take some time for some personal reflection.
A mission statement can set the whole tone of your business, and be the entire framework upon which your planning is based.
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