All entrepreneurs have been fueled by some degree of passion and a specific mission motivating them to begin a business. Within the critical startup stages, entrepreneurs should be intentional about creating a mission statement for their company.
A mission statement is a short statement that makes clear an organization’s values and overall purpose. This summarizes a company’s purpose, services, and intended audience in one to three sentences. While this seemingly simple element might appear meaningless to some, it is actually crucial for success.
Why Is Having a Mission Statement Important?
Mission-driven startups are undeniably more successful than companies that do not have a clear vision. At the end of the day, referring back to this mission statement helps motivate a team to continue fulfilling their quest. A company birthed into being without a purpose will likely have a difficult time surviving the obstacles that are thrown its way, as it will have no solid backbone or reasoning behind its existence. A mission statement formed at a company’s beginning, however, will provide a vision and strategic direction for the business to grow.
In due time, this mission statement will influence employees at every level of the company and will attract candidates to the company who also believe in this mission. Although some recruiters may not realize it, a mission statement is a great form of marketing in the area of attracting employees. By referring to this mission statement, you’ll have an easier time attracting your ideal candidates and staffing your company with individuals who share in your goals.
This mission statement can also come in handy when it comes time to make decisions for your company. Mission-driven startups will have an easier time determining future goals and their avenues for achieving them when they have a direct vision to refer back to. By doing so, entrepreneurs can ensure that they stay on-brand and always have the company’s original vision in mind. A mission statement will help business owners keep their priorities straight.
Who Is Your Mission Statement For?
As an entrepreneur, a mission statement will likely reflect your passions and motivations behind beginning your business. As you create a specific mission statement, however, the first audience in mind should be your ideal customer or those that you hope to serve. This will show them why they should work with or purchase from you.
Secondly, you’ll want your mission statement to speak to your employees in order to establish expectations and clear values. Lastly, a mission statement also speaks to potential investors and shows them the value of your startup and what goals you hope to achieve, putting a clear purpose behind their dollars.