In this edited excerpt, the authors explain the importance of your mission statement and offer guidelines that will help you write one for your new business. When you're creating a business plan for your new business, you need to include a mission statement. Equally important, the mission statement signals what your business is all about to your customers, employees, suppliers and the community. The mission statement reflects every facet of your business: the range and nature of the products you offer, pricing, quality, service, marketplace position, growth potential, use of technology, and your relationships with your customers, employees, suppliers, competitors and the community. Our mission is to help people create innovative solutions and make informed choices to improve their lives.
How to write a powerful mission statement that resonates
The Eight-Word Mission Statement
A mission statement is a short statement of why an organization exists, what its overall goal is, identifying the goal of its operations: what kind of product or service it provides, its primary customers or market , and its geographical region of operation. A mission is not simply a description of an organization by an external party, but an expression, made by its leaders, of their desires and intent for the organization. The purpose of a mission statement is to communicate the organisation's purpose and direction to its employees, customers, vendors, and other stakeholders. A mission statement also creates a sense of identity for its employees. Organizations normally do not change their mission statements over time, since they define their continuous, ongoing purpose and focus. According to Chris Bart , professor of strategy and governance at McMaster University ,  a commercial mission statement consists of three essential components:  [ failed verification ].
A business purpose statement is an essential part of forming a new business. In some states, it is even a legally required aspect of your business filing. Whether mandatory or not, having a business purpose statement can help you to identify your mission, define your goals and ultimately find the success you crave. Writing a business purpose statement comes down to answering one important question: why is your company in business?
You can have a mission statement too! It explains how you aim to pursue that purpose, and why it matters so much to you. Author and career coach Dan Miller says a good mission statement should include three things:. Your skills and abilities what you like to do 2. Your personality traits how you operate 3.