If you want to start a business, there are many things to consider like projecting sales growth, planning to scale, setting goals, and all the other operational stuff. But some foundational things can be overlooked. Establishing your company’s vision and mission is something that is vital from the very beginning.
What’s the difference between a mission and a vision?
A mission statement clearly outlines what the company is and what it does. This can include plans for the near future. It articulates what the company does, who they do it for, and why they do what they do.
A vision statement is more forward-looking. While the mission statement is the company’s grounded present, the vision is what it aspires to achieve. This could be ten, twenty years down the line.
It’s important that employees are not only onboard but also believe in this mission and vision so that every single thing they do for the company reflects one or both statements/
The mission of the company should represent the overall role of your company. You should make it compelling, succinct, and a simple statement that will describe what exactly goes on in your business. Example: Nike’s mission statement is “to bring inspiration and innovation to every athlete in the world,” further clarifying that “if you have a body, you’re an athlete.”
This is a very clear statement about what the company is about, but it also showcases the core of Nike’s strengths: innovation and inspiration. It permeates company culture, from its daily operations down to the tone of its marketing.
Getting your mission/vision statement right the first time is important, so working with professionals such as Miick consultants to help you craft one is worth the expense.
Here are the reasons the mission statement is essential in running a business:
It Helps To Guide Employees
The reason why the mission/vision statement is incredible is that it will help them direct themselves as required in the company. Therefore, you need to have a clear mission statement to understanding what is expected of them in terms of company values.
A clear mission/vision statement gives everyone one goal to shoot for. BMW’s is: “The BMW Group is the world’s leading provider of premium products and premium services for individual mobility.” This states that they’re not only automakers but service providers, and they’re not just about cars, but individual mobility in general. This statement captures everything that they work toward, and gives both management and employees a focus for product/service development, for R&D, even for company operations and continuous improvement.
It Helps To Support And Tailor Your Company’s Culture
Another reason to consider your company’s mission is to help support and tailor your culture. You might not understand the importance of a great company’s mission. However, you will recognize a bad (i.e. unproductive, or toxic, or self-defeating) culture after you come across it.
A mission statement is crucial for a running company because you want employee engagement in your company. It also helps them to be at their best because culture accounts for a percentage in corporate performance.
It Helps Improve Operations
If you have a business, you’re aware that your employees will never work for you forever. That is because, even after you hire them, they have to look for the best firm helping them build their future personally and professionally.
So, for the time they are working for you, you have to get the best from them. Therefore, challenge them to help them grow in the roles you have given them. If you have hired the right team, you can see it’s potential. So, importantly start by hiring the best people.
You have to ensure they understand their position and mission of the company.
As you have seen, a company’s mission statement is vital because of the above reasons. The mission of the company is for umbrella reason that encourages proper employee interaction and engagement in the company. Therefore, ensure you have a strong mission statement.
When you write down your company mission, it helps your team become evangelists of the company. It becomes easy because you can pick the best team depending on their mutual motives and goals. If you want your business to reap the benefits you’re looking for, the mission statement is vital.