You and Your Business: Do You Have a Mission Statement?

Why are you in business? What problems do you solve for the consumer? Do you have ethical standards? Where is your moral compass pointing? When was the last time you reviewed your Mission Statement? Do you even have a Mission Statement?

A Mission Statement is not just for business owners. Families can have a Mission Statement too. A Mission Statement is a clear concise statement that expresses your purpose in a way that resonates with employees and customers. There are three main parts to a Mission Statement:

1. Purpose of the business, organization or family – what need or opportunity does the business address.

2. How does your business address the needs – what do you do to take away the customers pain point.

3. Organizational values – what principles or beliefs guide your work.

Your Mission Statement should be reviewed at least every five years. The reason you want a Mission Statement is so that potential customers know what you do and how you do it and the direction your moral compass is pointing. People do business with those they know, like, and trust. You will also want to review your mission statement when expanding your product line or expanding your business to see if you are staying true to your Mission. Your employees need to know your Mission Statement so they know what the purpose of the business is so they can focus on fulfilling the Mission.

When you are writing your Mission Statement, you will want to:

1. Express your purpose in a way that inspires loyalty.
2. Motivate those affiliated with your business.
3. Articulate your mission in a way that is clear and easy to understand.
4. Use proactive verbs.
5. Skip industry jargon.
6. Keep it brief.

As we celebrate Independence Day, I challenge each of you to sit down at your family gathering and write a Family Mission Statement. Lead a family discussion on what is important to your family and how you would like future generations to remember your family. Do you want to be remembered as the family that argued all the time or the family that did volunteer work and contributed to society? Older children can write the statement after soliciting ideas from all generations of family members and the smaller children can draw pictures depicting your family’s Mission Statement. Get creative, have fun, and let your family know where the family moral compass is pointing.

If you are a business owner, I challenge you to dust off your mission statement and review it. Has your mission changed? Do your marketing materials reflect your mission? Do your products and services align with your Mission Statement? When I see your logo or brand, will I know what your mission is? If you do not have a mission statement NOW is the time to write one.