What is your purpose in business

“Your purpose in life is to find your purpose and give your whole heart and soul to it”
― Gautama Buddha

You want to start a business.  You're working through your first draft of your business plan, when you're suddenly stumped: 

What is my mission statement?

What should you do?  You haven't given this much thought.  What do you want people to know about your business?  

What is your purpose?

http://www.stjamessantee.org/our-mission-partners.html

A mission statement should include your goals.  Your mission statement can, and should, be an elevator pitch for your company, or at the very least, the start of one.  Your mission statement should capture attention and make a person want to know more.  So how do you get that into a succinct phrase or paragraph?

Whenever I'm tasked with helping a company create their mission statement, I always look for inspiration.  I work to weave in a story of where the company started and where it's going.  I try different ideas out loud alone, and then in front of my closest and most beloved critics.  I come up with idea after idea, carefully crafting it piece by piece.  And more often, I look to the great mission statements and see what works, and to the worst to see what doesn't.

Let's look at Starbucks:

 "Our mission: to inspire and nurture the human spirit – one person, one cup and one neighborhood at a time."  Do they hit their mark?  As a quick mission statement - kind of.  They give you the feeling of comfort and community, and I get that from their company.  Thankfully, they have an extended mission statement on their site that goes into the important parts that their original statement is lacking.  They let us know about the products, the service, the clients, the employees, their overall vision, and what they do for their shareholders.  Overall, their albeit short quip is fulfilling.  It makes me want to know more.  It makes me want to partake in their culture.

Let's try another, General Motors.  

"G.M. is a multinational corporation engaged in socially responsible operations, worldwide. It is dedicated to provide products and services of such quality that our customers will receive superior value while our employees and business partners will share in our success and our stock-holders will receive a sustained superior return on their investment."  As a mission statement, it fits in alignment with what should be there: products, quality, customers, employees, shareholders.  Everything is summed up quickly and informatively.  Does it invoke emotion?  Aside from their current issues, yes.  I want to know what "superior value" their quality products offer.  Personally, as an aside, I hope that they are able to overcome their current trials so that they can maintain this mission without fear of it being seen as tongue-in-cheek.

Inc Magazines "The 9 Worst Mission Statements of All Time" has a wonderful list of the bottom of the barrel mission statements, my favorite (or least favorite) being McDonald's "McDonald's brand mission is to be our customers' favorite place and way to eat and drink. Our worldwide operations are aligned around a global strategy called the Plan to Win, which center on an exceptional customer experience – People, Products, Place, Price and Promotion. We are committed to continuously improving our operations and enhancing our customers' experience."  Yes, they meet some of the qualifications for a good mission statement, but instead of being forward-thinking, they're fluffy.  Full of air.  It does not make me want to learn more; in fact, their "global strategy" sounds a bit lame and cheesy.

So what's the takeaway?  

First, don't just throw your first idea on your business plan and call it good.  Your mission statement needs to say something; something about the company, where it's going, what it's offering and to whom, how it's offering those services or product, and what you're offering your community.  Just remember: who, what, when, where, why, and how.  Second, involve people in on the planning of the mission statement.  Work out a few ideas, say them out loud, see if you can spin an elevator pitch from it.  Work the top risers with a team of people who understand your business.  Shine it up like a new penny.  And third, make sure you're hitting your mark.  You get to pick what journey your mission statement takes people.  Make sure it's a journey worth taking.


Nicole
The Restless Entrepreneur