You don’t just create a mission statement to show decency and prove that your business plays by the rules. A mission statement has great benefits aside from being a brief description of an organization’s reason for existence. A mission statement develops rapport and credentials with customers while setting priorities that will lead your business to success. In this guide, you will get to understand the importance of a mission statement, and with some practical examples of popular companies, you are also going to learn how you can write a mission statement for both a profit and nonprofit business.
Just before we go into details, you can still reach out to us on our website to get a professional mission statement, just in case you don’t wish to continue with the process, otherwise, let’s rock and roll!
What is a Mission Statement?
A mission statement is a few brief paragraphs that define the purpose of your organization. It tells your readers how your company serves the customers, employees, owners, and every other individual involved in the corporation. A mission statement will also give a quick scan of your company’s history, its core functions, and the goals it tends to achieve in the near future.
Most of the time, the length of your mission statement might even get broader than usual, but this highly depends on the focus of your business and the vast population your business plans to serve. In summary, your mission statement should be able to explain what you do and why you do it.
What Is the Importance of a Mission Statement?
I mean, why should you pay attention to how to write a mission statement when you don’t know the importance? There are multiple reasons why writing and owning a mission statement is important. One being that a mission statement can help keep your business on track. Why? Because it is an embodiment of your goals and objectives you aim to achieve, and it was put together at the very beginning. Knowing this, you can easily refer back to it and keep fighting to aim those goals.
Aside from this reason, a mission statement can also help examine your performance to detect where you are going wrong. It can also help direct your business planning, provide a sort of guidance to employees and stakeholders to keep track of the same intentions. Having known this, lets look at how to write a mission statement for a profit and nonprofit business with practical examples.
How to Write a Mission Statement
For you to come up with a powerful mission statement that resonates, there are some processes that should be kept in consideration and serve as a guide on how you can successfully write a mission statement. Let us analyse these steps below.
#1. Start with a story about your company
This is the first step to writing a successful mission statement. You can start by free-writing about your business. You can answer the “why” question of your business, talk about the problem your company will solve, why your company focuses on that particular issue, the inspiration behind your business and how your products will serve your customers.
Furthermore, you can add a little information on your marketing team, you can mention their skills and how they also intend to carry on with your goals. This step is more like a preamble.
#2. Go in full detail about what your company does
The first step was more like a background of your company, but this step is an in-depth knowledge of your company. You can be more precise this time and describe the exact kind of product and services you offer to your customers. You can also mention how unique your products are by telling your readers how they are different from other similar products. While at it, don’t forget to keep it clear and concise.
#3. Identify your ideal target.
This is where you talk about your target audience to which your products and services will be channelled. You can mention their general demographics, what they do and where they live, the problems and challenges they are facing, and maybe their favourite online presence.
Creating a buyer persona will also help you figure out more information about your target market and know how you can construct your mission statement based on their needs, so you won’t have to rely on guesses.
#4. Define your core values
This is where you describe and define your values and ethics. While mentioning it, you should make sure it is flexible, accessible, and achievable. Remember that your employees, stakeholders, and other owners must be aware of this value because it will help set priorities that will be in line with your goals.
#5. Cut, Polish, Revise and Condense your Mission Statement.
After constructing your mission statement, you should read it over again to spot any errors or mistakes. It should be in line with all you have planned for your company. If you can, cut down a few sentences and make it more concise. You can also send copies to other individuals in the organisation, get their opinion and any valid corrections.
What is an Example of a Mission Statement?
An example of a mission statement is a sample mission statement that other companies has constructed. If you are looking for a form of guide or inspiration, then let’s look at some of the mission statements of top companies.
What is Coca-Cola’s Mission Statement?
“Refresh the world. Make a difference.”
What is Apple’s Mission Statement?
“To bring the best user experience to its customers through its innovative hardware, software, and services.”
What is Disney’s Mission Statement?
“To be one of the world’s leading producers and providers of entertainment and information.”
What is Nike’s Mission Statement?
“To bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete. “
What is Netflix’s Mission Statement?
“We want to entertain the world.”
What is Gucci’s Mission Statement?
“To become the leader in the luxury market at a worldwide level.”
What is Starbucks Mission Statement?
“To inspire and nurture the human spirit—one person, one cup, and one neighbourhood at a time.”
What are the 3 Parts of a Mission Statement?
According to Chris Bart, a university professor, a mission statement, either for a business or other types of commercial-based organisation, comes in three different segments, and they include,
#1. Key Market
Your key market, in other words, your target audience, should be a big part of your mission statement. Before you even get to write on them, you will need to research them. Who is your target audience? To which group will your concentration be based on? The aged, children or adult? Will they find your products beneficial? This component is the first to appear on your mission statement, hence it should be made in a catchy manner to get the attention of your target audience.
#2. Products and Services
This part of your mission statement is where you focus on the contributions you would convey. You will describe the product and services your company will offer.
#3. Distinction
Why are you different from the other thousands of companies offering the same service as you are? What makes your product unique and encourages consumers to purchase from you over other industries?
What is a Good Mission Statement?
To effectively generate a good mission statement, it should be specifically made for your company, so its contents can go in line with your company’s value and focus. An average good mission statement should cover your employees, customers, owners, community and the world at large.
What are the 3 key things a Mission Statement Should have?
While creating your mission statement, you should make sure that it covers some particular key elements. Following this lead will help you construct a solid mission statement you can use for your business. Let’s analyse these three key elements below.
- Value: This is where you get to explain the value of your business. Tell your readers the importance of your business and how it will affect your customers and employees. Your mission statement should speak value on it own.
- Inspiration: Why should people feel inspired to work or associate with the company? What makes it so attractive and unique from others?
- Plausibilty: After writing your mission statement, you should read it over and see if it sounds reasonable enough. Remember that you are not just constructing your mission statement because you need to follow a particular rule; it should be well constructed, reasonable, clear and specific.
Need Help With Writing Your Mission Statement?
Still confused about how to write a mission statement for your profit or nonprofit business, even with the help of examples? We got you!
Since our existence, Businessyield Consult has specialised in helping entrepreneurs like you, who are still trying to get a strong foothold in the marketplace, stand more firmly. We offer services to thousands of businesses by creating business plans, and providing consulting, and we can also help you formulate a professional mission statement.
What’s the wait for? Hurry in now and book a call with us here so we can uncover the information we need to create your winning mission statement that draws in the target audience and establish your business.
Final Thoughts
Having a mission statement is as important as having a business itself. It is merely a way of informing your audience about the “why” of your business. But it is also important to note that the best time to construct your mission statement is at the very beginning of your venture, because that is when you are in the best position to talk about why you started a business. While writing, you should also remember that it is not an essay, instead, it should be written in clear paragraphs.
FAQs
How do I make my mission statement stand out?
If you wish to create a unique mission statement that would stand out from others, then you should make it as short and concise as possible, review and change it when you feel the need to, avoid writing it like you are writing an essay, reflect on your long-term goals, seek opinions from your employees and don’t make your mission statement sound too limiting.
What should you avoid in a mission statement?
While writing your mission statement there are some costly mistakes that you should avoid practising, they include:
- Avoid regarding a mission statement as a death sentence.
- Under the involvement of leaders and employees
- Absence of team-wide conversation
- Lack of ongoing response
What are the two questions a mission statement should answer?
A good mission statement should answer the question “Who are we?” and “What do we do?”
How long is a mission statement?
The normal length of a mission statement should be between two and four sentences, which should not be more than 100 words. But this effect can depend on the company.
