Business Mission Statement

business mission statement

A business mission statement isn't difficult to write, and it's not required by your business license, nor by regulation.

But you don't run your business by what's required. You go beyond what's required... to what's needed to succeed.

Business mission statements aren't a fad... they're another tool to help you achieve success. A business mission statement helps you keep your eye on the prize... if you put into practice what you put into your mission statement.

I don't know why so many people fear "the dreaded mission statement." A poor mission statement isn't going to get you arrested.

It should simply state why your business exists.

Click on the box... and have Google start putting money in your bank account!

Your mission statement shouldn't be full of big words. Keep it simple. An effective way to construct a mission statement is to write down your answer to the question... What's in it for me and my customers?

For example, here's the business mission statement for this South of Flagstaff Arizona web site...

The mission of this web site is to serve valuable local news and visitor information content to those using the web site.

Through this valuable content the web site will attract a large number of web site viewers and substantial annual profits through the sale of local advertising, referral fees from affiliate programs, and third party ad programs.

A business mission statement helps you sharpen your focus.

Planning

Now that you know why your business exists, take a little time to think about what you want to accomplish... long term as well as this coming year.

Establish a couple of long term (strategic) objectives to guide your annual goals. A strategic objective for a pawn shop might be:

To have $2,000,000 on the street in active loans before 2008.

Next, turn your thoughts to the immediate future. You don't need to delay establishing your objectives until the beginning of next year. Do it now and profit.

Most for-profit businesses should consider these points in the planning process:

What product or service does my business provide?
What need does my business fill?
How will I source my product or service?
Who are the potential customers for my product or service, and why will they purchase it from me?
How will I reach my potential customers?
What financial resources will I need to sustain my business until it becomes profitable, and where will I get those financial resources?
What tools, equipment, and other resources will I need to start up?
What resources will I need to add over the next five years?

Modify these question to fit your venture. A home-based catering service, a web site like this one, and a trash collection service will all be able to apply these questions to their own circumstances, with a little modification here and there.

Business Plan

A formal plan isn't required... unless you're seeking outside financing and/or investors. But It's a good idea to have one.

Even seat-of-the-pants entrepreneurs can benefit by having a formal plan. It helps you keep the forest in your mind's eye as you work your way through the trees.

The SBA has business mission statement and business plan resources available online.

At the very least, you should write down complete and detailed answers to the questions listed above.

Search the web using the keyword phrase mission statement will lead you to a number of other resources. Be sure to notice the relevant ads down the right side... those are resources also.

Now that you have a business mission statement and have done your planning, it's time to define your goals. Please return to the...

Business Performance Page
Performance indicators for Small Business

Business Performance Program Page
Performance indicators for Large Business... and how to set up and administer the program

Website Performance Measurement Page
Critical performance indicators for web site businesses

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