Achieving Business Goals-Mission Statement I Featured Article I Retailing Insight

To increase revenue and get your business known in your community or the world, you’ll need to have a clear vision for growing your business and clear business goals. This helps hone and focus the energy of your intention into the right direction which helps to actualize your goals — and that all starts with a mission statement. A company’s mission statement is its identity and is separate from a company’s vision, values and goals.

Why a Mission Statement?

Buyers of your product and services value mission-driven companies. The mission doesn’t have to be about saving the world. It does need to be truthful, focused, clear and genuine. People will react to this type of energy of your business mission in a much more positive way — that will lead them to connect with you, get to know you and purchase products or services from you.

A Zeno Group 2020 study found if consumers think a company has a strong purpose, they will be:

4 times more likely to purchase from the company
4.5 times more likely to recommend the company to family and friends
6 times more likely to defend the company in the wake of public criticism

People value connection and a shared sense of purpose, so your company’s mission statement can be a powerful differentiator.

Define Your Mission

A mission statement is normally one sentence used by a company to explain, in simple and concise terms, its purpose (or purposes) for being.

Purpose of a Mission Statement

Outlines company goals and industry position for customers and competitors.
Clarifies a company’s purpose and shows the public exactly who you are
Increases values, guidelines, inspiration and motivation for employees
Adds validity and a better reputation to a business
Exhibits thoughtful leadership to potential investors or donors
Is a perfect introduction for someone who doesn’t know your company

Therefore, a company’s mission statement defines its culture, values, ethics, fundamental goals, and agenda. Even though a mission statement might slightly overlap other marketing content, it is different from your vision statement, brand or slogan. Mission statements aren’t just for companies. There are many successful individuals and professionals who craft personal mission statements.

Creating a Mission Statement

Creating a business gives it life. So just like your personal life, your business life needs these six aspects to help you (or your business) be balanced, happy and successful. These aspects include making time for:

Yourself (operating the business)
Significant others (partners and suppliers)
Family (employees)
Community (customers)
Career (finance and business growth)
Spirituality (your greater mission and goals)

To create a mission statement, try considering how your company impacts your customers or your community. Then, think of why you want to help them and finally, how your business does provide service to them. It may be hard to narrow down the focus of your company in a single sentence, so here are some tips on how you might try to do that.

Outline what your company does.
Describe how your company does what it does. The key points to outline in your mission statement should be the values that are in your core business. For example, is it quality products, great customer service or being sustainable? How is your business unique or creative? These are key points to outline in your mission statement.
Lastly describe why you are doing this business. This shows how you stand out as a business and what sets you apart.

Some ways to get ideas for your mission statement include thinking about your personal experiences, brainstorming with employees, or asking customers about their experiences when entering your store or interacting with your business.

Bottom line, remember to keep the mission statement short and to the point. Don’t make it too patronizing or arrogant. Remember once it’s made and out there in the public, it’s never ideal to change it because it changes the perception of your company.

Once you’ve come up with a mission statement, carefully edit it and then get a couple of people to look it over. Make sure you take your time and get it right the first time. Here are some examples of mission statements, including that of my company HealthyLife.net Radio:

The Chopra Foundation: Dedicated to improving health and well being, cultivating spiritual knowledge, expanding consciousness, and promoting world peace to all members of the human family.

Gaia Inc.: Our mission is to create a transformational network that empowers a global conscious community.

Starbucks: Inspire and nurture the human spirit – one person, one cup and one neighborhood at a time.

Pinterest: Bring everyone the inspiration to create a life they love.

Target: Help all families discover the joy of everyday life.

Harley Davidson: More than building machines, we stand for the timeless pursuit of adventure. Freedom for the soul.

HealthyLife.Net Radio: To help eliminate fear, advance positive thought and encourage the concept that we are all one – here for the greater good of all.

Differences Between Mission and Other Statements

There are many organizational statements that may get confused with your mission statement. Here are some of the other types of organizational statements and how they vary from a mission statement.

Mission Statement vs. Vision Statement: A company’s mission statement is its identity that remains unchanged. A company’s Vision Statements are the journey to accomplishing its mission and can change.

Mission Statement vs. Company Goals: A company’s goals is its more specific business plan. It is important to remember that a company’s mission statement should drive the goals that are set.

Mission Statement vs. Value Statement: A company’s value statement is the guide to how decisions will be made, such as being ethical or doing the right thing.

Using Your Mission Statement

Now that you have crafted your mission statement, it’s time to make it publicly known. You can share it with your employees, vendors, existing and potential customers.

Since it is the core of your company, your mission statement can also be incorporated into your marketing material and your website. You can use it in your customer sales pitch and networking events. Plus, post it in your store for customers to see.

If done correctly, the energy of your mission statement becomes a steadfast foundation of your business which encapsulates what your company does, what it stands for and guides the company to profitability and longevity.