Do You Have A Mission Statement?
September 28, 2024
I have been working on a new mission statement for our business. I have learned that most business owners write a very vague mission statement or they don’t write one at all. In fact many mission statements sound like a PR piece meant solely for public consumption. So I am here today to offer an alternative.
Be Specific
Be specific. Include a timeline or deadline. And yes, make it about revenue either directly or indirectly. And be clear on why you want to accomplish it.
“Sign up 300 paid members to our community by April 1st to establish reliable recurring cash flow.”
That statement is specific, it’s about revenue, it has a deadline and it explains why it needs to be done. It sounds more like a goal. And it is. Isn’t the purpose of every mission to achieve a goal?
I wish I could say that I came up with this idea because I think it’s simple and brilliant. It is from the book “How To Grow A Small Business” by business coach and author Donald Miller. If you own a small business you should read Don Miller’s books.
Evolving Mission Statement
Many companies write a mission statement and never change it. I believe the mission statement should be always evolving. After all, when the mission has been accomplished, then what? When a military unit is given a mission it’s very specific. It has a deadline and a definite outcome. And everyone knows why the mission is important. The goal is to complete the mission, not have it looming over their heads for the rest of their military career.
When the mission is accomplished you start a new mission statement. You grow. You scale up. You improve.
Here is an example of a mission statement that I think is really a vision statement. This is from Starbucks:
“To inspire and nurture the human spirit- one person, one cup, and one neighborhood at a time.”
???
If you handed me that mission statement with the expectation of me carrying it out I wouldn’t really know where to start. I’m not even sure I know what it means! Where’s the mission? A mission statement should give clear direction to a business’s team members. It should not be open to interpretation. Everyone should read that statement and know exactly what the specific goal is that they need to achieve. Do you get that from their mission statement?
As small business owners we don’t have the luxury of being ambiguous with touchy feely statements. We need to be precise, on a timeline and realize why we need to accomplish the mission. When the mission is accomplished create a new mission statement. As a friend of mine is fond of saying “move onward and upward.”
Do you have a mission statement? If not, start working on one. It makes a huge difference in the success of a business. Don’t own a business? Who says an individual can’t have a mission statement? You don't need to own a business to have a mission statement. Don’t be afraid to do things a little different than what is expected. Shake things up. Be a leader!
Keep building your Financial Momentum!