Want to know how to create a plan for your business? I remember listening to my professor’s lectures on this stuff during my college days. Some of the key focuses were Business Strategy, Project Management, Managerial Economics and Accounting. All of these courses touched on the importance of aligning your strategy with the organization’s mission statement.When companies fail to accomplish this problem, money is lost to sunk cost. In this article, you will learn key tips to create an inspiring mission and vision statement. You will also have an opportunity to download a free eBook, teaching you the secrets that every business owner should know. This article will explain: how to create a mission statement.
Your vision and mission statements are the heartbeat of your entire business. Your business was likely born out of an audacious dream. Vision and Mission statements invite others to share that dream.
Tip #1 Use the 4 ingredients of a Compelling Mission and Vision Statement
You want your mission and vision statements to move people. Yet your business vision and mission should not only move people, but achieve four specific things for your customers, investors, as well as everyone who comes in contact with your business: direct, guide, inspire, and excite. Your mission and vision should:
- direct people, telling them where you’re headed, and why they should follow you, support you, and invest in your vision.
- guide people, indicating what future you’re creating, and where they are headed with you, as a partner, employee, or customer.
- inspire people, creating a sense of awe, or even magic, about what you’re hoping to achieve, how you’re changing the world, and/or how your revolutionizing an industry.
Your mission and vision should excite people, getting them energized about your idea, and eager to be a part of it, while also encouraging them to be optimistic about the future of your organization.
Tip #2 Understand the Difference between a Mission and a Vision
People often confuse vision and mission statements. Indeed, these statements have some qualities in common. Both your vision and mission illustrate that you have the ability to think big, beyond the day-to-day or just getting the doors to your business open. Investors might think you’re exaggerating but they don’t care that much because they want a vision-driven person.
Here’s how they’re different:
1. Vision Statement
Your business vision statement describe where your business is headed. A vision statement is your big idea, it’s far-reaching, and you cannot know how you’ll reach it or get there at this point. It’s the difference between saying that you’re going to “Open a fresh cut flower shop in my town,” versus declaring that you’re going to “Revolutionize the way flowers are delivered direct from growers at a fraction of the cost.”
Toyota’s vision statement is, “Toyota will lead the way to the future of mobility, enriching lives around the world with the safest and most responsible ways of moving people.”
2. Mission Statement
Your business mission statement clarifies what your business will be doing day-to-day to achieve your big dream. A mission statement describes what your business plans to accomplish, what you’re setting out to do, what you’ll create, and the means to achieving your vision.
Toyota’s mission statement says what they are doing day-to-day: “To attract and attain customers with high-valued products and services and the most satisfying ownership experience in America.”
Before you can get into a visionary mode, you must first understand where you stand in terms of your mindset. Ask Yourself this question: “Where do I fall on the spectrum between risk-open and risk-adverse?”
Determine which of the four mindsets you have, then you can play to your strengths and alleviate your blind spots:
- The Visionary
A visionary mindset contains a blend of the other mindsets below, but its hallmark is that a visionary can see what others cannot see, is open-minded, and can be persistent and resolute about their vision.
2. The Pragmatist
If you’re a pragmatist, you like being on the ground, “safe,” and you like practical, proven methods of achieving a goal. The pragmatist in you may resist visionary thinking because there isn’t a model or path to follow.
3. The Strategist
If you’re a strategist, you are the type to take calculated risks and make plans that move you toward your goal, incrementally. You want a roadmap and you believe that a plan is the only way to reach a destination. The strategist in your may resist visionary thinking because you want to know how to get there—but no map exists for achieving a vision.
4. The Pessimist
If you’re a pessimist, you’re the one who can quickly see the reasons why an idea isn’t viable. You spot flaws, risks, and issues lightning-fast. The pessimist in your may resist visionary thinking because you so readily see potential problems in the way.
By being aware of your mindset, you can encourage your mind to bypass its typical way of thinking and become comfortable with visionary thinking—even if you have to tell yourself you’re just “pretending” to be a visionary.
Don’t skip on your mission statement. Your mission will guide your future decisions for your business. You are the business owner and your story is inspiring. Let it inspire your vision. If you haven’t started your business yet and are brainstorming ideas, read my previous article on who is the pre-entrepreneur. This surrounds the idea of wanting to start a business but not quite knowing where to start.
For more entrepreneurial insights, watch this video about how to Create Vision and Mission Statements for your business. You may also choose to receive a free eBook to your email by subscribing to our newsletter. For a limited time, use this coupon code: bpspecialoffer ($200 value), if you decide to join the special Business Planning Master Class. This master plan enables entrepreneurs to create an investment-worth business plan.
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