How to Succeed in Business: How to Write a Good Mission Statement?
The most important step to writing a good business plan is determining the mission, values, and goals for the business. The most successful businesses out there are focused and mission oriented. Successful businesses know their mission, core values, and goals and they ensure that their employees know them as well. The mission statement of the business plan states the focus and the guiding principles that determine how the business runs. The mission statement is an attainable, measurable, actionable, and definable statement of what is the purpose of the business.
The mission statement helps to describe the small business in a matter that others can understand the main concept of the business easily. The mission statement helps the business owner describe the main objective of the small business in a clear and succinct manner. In a way, that customers and others will clearly understand what services and products will be offered by the business.
Many small business owners do not put much effort into writing a mission statement for their business and go straight to developing marketing strategies that will help sell their products and services. Based on the book Social Entrepreneurship, here are a few reasons why it is a mistake not to write your mission statement:
- First, a mission statement focuses the entrepreneur on what they intend to accomplish and how to measure progress toward the stated goal. A lack of focus in the early stages of the small business is obviously detrimental to the success of the business.
- Second, a mission statement provides a marketing tool to bring other interested parties into the enterprise. Also, it is a marketing tool to get customers to purchase the products and services offered by the business. Source: Social Entrepreneurship: A Modern Approach to Social Value Creation by Arthur C. Brooks (2009 Pearson Education, Inc.)
Here are some questions that the mission statement for your small business should answer:
- What services and products will the business offer to customers and what will not be offered to customers?
- How does the business define “value” and how does the business measure it?
- What makes your small business stand out from its competitors?
- How does your small business define true “success”?
The mission statement for your small business gives your “target market” or “ideal customer” the following information regarding the business:
- What you value as a business?
- What is important to the business?
- How the business treats its customers?
- How the business stands out from the “crowd”?
The mission statement is the most important part of the business plan because it is an extension of what you value as an individual and what you feel is important when it comes to serving others.
Donya Zimmerman is a business consultant, mediator, and legal professional with over ten years of experience. Donya is also a public speaker and aspiring author. She has a few books in the works that will be published and released in the latter part of 2015. The books will focus on entrepreneurship, small business, and daily devotionals. She is owner of Family & Community Mediation and Business Consulting (FACMBC) based in Baltimore, Maryland and has been in business since 2013. Services provided by FACMBC: Mediation and Conflict Resolution Services; Business Registration Assistance (Limited Liability Company, Corporation, S-Corp, Limited Liability Partnership, etc.); Business Plan Drafting Assistance; Business Certification Assistance (MBE, WOSB, 8A, 501(c) (3), Hub Zone, etc.); and Business Organization Assistance. She is also a contributing writer to the Maryland Daily Examiner Newspaper. Donya Zimmerman has made article contributions to the Simply Inspirational Women in Business Journal for 2014 published by Dr. Cheryl Cottle. Contact information: email@example.com; www.facebook.com/FACMBC; www.twitter.com/FACMBC; https://dzimmerman36.wordpress.com; http://www.linkedin.com/in/dzbusconsultantandmediator