Whether you are running a large corporation, or a small business, establishing a clear and concise mission statement should be a top priority. These statements are not just to impress your customers but rather, should be a set guideline for your employees. They are a written declaration of principle and focus of what service you intend to give. Mission statements are more than a fancy set of words tacked to a wall; they are your exact purpose.
Regrettably, that is not always the case for some businesses. More companies are instead using a string of “buzzwords” to grab your attention rather than provide an accurate account of what they do.
“Hey, over here! We push for quality!”
“Well, we provide the highest level of service!”
“Oh, you think that’s great? We aspire to be the best at what we do!”You hear this all the time, but does it matter?
5 Reasons a Mission Will Increase Success
- Direction: Your mission statement should be the driving force behind everything you and your employees do. The reminder of why you exist and what you are selling. The economic slump is over, and companies are comfortable spending again. Using capital in the right areas is an essential part of an effective business strategy. One area of capital investment is new equipment which helps companies expand their base through broader product offerings.
- Future: Often confused with your mission, is the “vision.” The vision is where you see the company going in the future. Your purpose should be what moves you forward.
- Decisions: Following a predetermined set of boundaries can help you quickly and confidently make promising decisions.
- Strategy: Your business strategy should not follow that of your competitors. Their plan may work for them but not for you. Use your mission to help form a healthy approach to achieve what you set out to do.
- Improvement: If you are not doing your best, you are probably not doing your mission. Your mission should be your standard, always work to achieve that or more.
A mission statement should be a transparent and honest portrayal of what a company currently does and should continue doing over time. At Onex, we do what we say. We exist to help you Make Things Better.