A mission statement explains the purpose of your company, defines its goals and underlying philosophies in a few succinct sentences. It is used to help focus your company and provides a foundation for deciding if opportunities suit the business model and strategy.
While some choose to provide other details, at a minimum it should include your target demographic, description of your products or services and state where you operate your business.
If you need assistance developing a statement, a strategy is to write one sentence clearly defining your business and the purpose. Ask other key people in the company to do the same. Once all have completed the task, meet and brainstorm to come up with the wording agreed upon by everyone.
After the mission statement is created, share it with employees and customers.
As your company evolves, you may need to update your mission statement. When doing so, make sure your employees are aware of these changes.
With endless possibilities, new opportunities and receiving conflicting advice, it can be hard for some entrepreneurs to stay focused on their initial vision. Here are a few tips on staying true to your mission.