2016-11-25 00:00:00 Running a Business English Stake your place in the small business world with a mission statement that gives clients and staff a taste of who your are and how you fit... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/Courier-Fulfills-His-Companys-Mission-To-Put-The-Customers-Needs-First-By-Arriving-At-A-Delivery-Stop-On-Time.jpg https://quickbooks.intuit.com/ca/resources/business/what-is-a-mission-statement-and-what-is-its-purpose/ What is a Mission Statement — and What is Its Purpose?

What is a Mission Statement — and What is Its Purpose?

2 min read

In a few carefully crafted sentences, a mission statement articulates the nature of your business and its guiding philosophies. It explains why you’re in business. A mission statement touches on several key aspects that can shape your company’s future and help with your branding to external parties.

Basics of a Mission Statement

A mission statement is one of the basic tools for defining your brand and creating a cohesive organization. It helps customers to understand your company’s purpose, and it directs employees to uphold your guiding principles. The statement often summarizes your company goals and philosophies. Mission statements often include several details including:

  • Your primary customers
  • Products and services you provide
  • Market positioning
  • Long-term goals
  • Values and principles

Mission statements are short – often just one sentence. The goal is to be specific and use the statement to set your company apart, rather than making a general statement about being the best in your industry.

What Is the Purpose of a Mission Statement?

Your company mission statement serves both internal and external purposes. Internally, the statement helps guide decisions you make. If part of your mission statement is a commitment to giving back to the community, your decisions and practices should incorporate that philanthropy. Mission statements can serve as a rallying point for employees, helping everyone get behind a single purpose to increase success. Your company’s mission statement can also help shape your company culture. For example, if your statement focuses on an environment of inclusion, it can help create an inclusive company culture.

Developing your mission statement may help influence your performance. The statement can motivate your employees to work hard to meet the objectives, which can improve performance. It can also support consistency because all departments understand the mission. When you hire new employees, you can use your mission statement to help them understand your goals and how their role might fit into that.

Mission statements are also linked to marketing. If your philosophies include a commitment to eco-friendly operations, environmental responsibility may be an effective part of your marketing campaign. If you strive to make your business accessible, your advertising may emphasize your online presence and mobile-device convenience. Your mission statement tells external parties what you’re all about, which can help support your branding and help attract the right kind of customers.

Defining your company’s mission statement helps guide your decisions, from marketing to product development. Business tools can help you better achieve the missions you establish. 4.3 million customers use QuickBooks. Join them today to help your business thrive for free.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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