Do not underestimate the importance of a mission statement. In building your business, this will differentiate you from the competition and will serve as a reminder of your purpose as an entrepreneur.
In a previous post, we explained in greater detail the four main components of a mission statement, but allow me to quickly review them.
- Convey the benefit your business presents to the client
- Define yourself and show how you can deliver a positive impact.
- Identify what you do and how you are different. Focus on the three elements of business that make your enterprise unique – intention, process and measurement.
- Finally, it is vital to keep the message simple.
Your mission statement and vision should be concise messages that can draw in and intrigue a prospect, and, as I originally noted in The Entrepreneurial Journey, they should give people a reason to want to do business with you.
Jim Nichols echoes the importance of a simple and compelling mission statement in a piece for Forbes. Your mission statement should be central to what you do every day, rather than an outdated phrase hidden away in the office or on the company website.
He draws a comparison between mission statements and the military’s “commander’s intent,” a clear, concise statement that informs every team member on a mission of what they need to do to achieve success.
“If the commander’s intent is to take that hill, then even the last solider standing knows that he has to take that hill, regardless of rank, positioning, skill, etc.,” Nichols explains, drawing the connection to how a business mission statement should do the same for every person in the firm. “When your colleagues or employees are faced with a customer-facing dilemma, do they know what they should do by default?”
As you create your mission statement, keep this question in mind: Does it not only inform clients what our business does, but empower team members to do whatever is necessary to deliver that promise? Every employee in your practice operates at a different stratum level, and fulfils a unique role. So, as Nichols acknowledges, their goals and responsibilities (and the tools they use to manage these) will also vary.