Why Your Mission Statement is Important for Your Business

A mission statement could be defined as a sentence describing a company’s function, markets and competitive advantages. In practice however, a mission statement is more than just a sentence and it actually encompasses everything about your business.

A mission statement defines what your organization is, why it exists, its reason for being. Your mission statement should be able to define the type of customers you are targeting, what services or products your business provides, your future goals as a company as well as were your business is located.

Your mission statement almost defines your business’ whole strategy. It’s almost like a reminder or a memo of where you want to take your business. It will lead you and guide you when strategizing and helps your customers and clients understand the business better and even connect to your company.

The mission statement is also a great supporting tool for your employees. It helps them understand the direction of the business, were the business wants to go and some of the practical steps that can be taken to achieve the set goals. This means that the mission statement has to be as personal as possible as it ultimately has to speak to people. Using personal and some emotive language will help you connect more in your mission statement.

The mission statement contains tactical aspects which are the more current steps a business is taking or should be taking to reach its goals. This means that it needs to have clear and achievable goals. This differs from a vision statement which tends to be more idealistic and future oriented in nature. Both are an important element in business strategy.

Mission statements aren’t just for employees and customers. They also apply to external stakeholders such as partners and suppliers. The mission and vision statements can be used as a public-relations tools to attract media attention, engage specific audience segments and develop business partnerships with like-minded companies. This can help with the marketing of your business to gain even more customers and investments. Your mission statement should be prioritized in your business as it can not only guide you during the decision making process but it can lead to possible connections and benefits.

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