How to Write a Mission Statement

The best way to quantify your business objectives is through a mission statement. Sometimes referred to as a vision statement, it will detail the whole point of your business. In many ways this is the hardest part of your business strategy to write because it must outline succinctly the whole thrust of your business.

The mission statement is also the most misunderstood part of the business planning process. Many people think that it should be couched in eloquent language and be full of lofty ideas for the business. All too often it becomes pompous, with little meaning and purpose because it is largely incomprehensible to those who read it.

The Four Key Components of a Mission Statement:

• The role or contribution that the business makes - is it a voluntary organisation or a charity? Are you in business to supply goods and services and make a profit?
• A definition of the business - this should be given in terms of the benefits you provide or the needs that you satisfy. It should not define what you do or what you make. These should have been outlined as part of the first component.
• An outline of your distinctive competencies - the factors that differentiate your business from the competition. These will be the skills or capabilities you offer that are not, or cannot be, offered by your competitors.
• The indications for the future - what the business will do. What it might do in the future and what it will never do.

A Good Mission Statement

A good mission statement is written in two parts. In the first part you outline the industry that you are in and the products that you offer. In simple clear terms, this will relate to exactly what your business does. The second part comprises the business strategies that you follow to achieve success. These can take any number of different forms, and some basic examples could include:

• We will provide an excellent service to all customers to achieve total satisfaction.
• We will accomplish high productivity levels through sound planning, organisation and teamwork.
• We will earn sufficient profits to ensure investment in new technology together with providing a good return to shareholders.
• We will earn high employee loyalty and motivation by showing respect for their capabilities and providing future training and development opportunities.
• We will gain recognition in the market for being a highly professional, ethical, quality-assured business.