Why Your Business Needs a Mission Statement

 

Having a small business can be a whirlwind of emotions, but most importantly, it can be an incredibly rewarding experience. Not to say that there aren’t days where it can feel slightly overwhelming though. We have our fair share of those, but one trick we find handy when things gets a little tough is to always look back at our mission statement and ask ourselves "Why are we doing this?".

why your business needs a mission statement

SO. WHAT IS IT?

First off, we should discuss what a mission statement is. A mission statement, framed within a business context, helps determine why your business exists beyond just earning income. It helps determine the direction your business will take, what you do and why you do it. For instance, if you look up Airbnb’s mission statement, they talk about finding a home anywhere on earth and reiterate a feeling of belonging. This helps identify the company’s purpose and the vision it is trying to achieve. 

 

K. WHAT DO YOU DO WITH IT?

So, you’ve figured out what your organization’s motivation is. What do you do with it? Basically, a mission statement should help your business maintain a focus, which can manifest in the ways your company operates within its field. It should be rooted in your company's brand strategy, which is an incredibly important cornerstone of any good business plan because it builds the intention of your business and provides clarity in all decisions you may make. For instance, perhaps your mission statement revolves around being strong partners to women within a male-dominated field. Going forward, the intentional steps you take to better grow your business would be framed around working with more women and ensuring their voices be at the forefront. 

 

WHY DO I NEED ONE THOUGH? 

Why should you have one? Having a mission statement helps you and the people you work with (currently and in future) communicate your goals and gets everyone on the same page. It can also create rapport and transparency with your audience and help dictate the kind of information you’d want to be visible to your clients. For example, one of Salt Design Co.’s points in our mission statement was to provide design education for our clients, which is why it is the first words you see when you go to our website homepage. 

 

GOTCHA. ANYTHING ELSE? 

The important thing to remember (besides how incredibly vital mission statements are to a company) is that they can also be fluid. Businesses can grow and evolve, so it’s never a bad idea to revisit your statement and evaluate if it is still representing your company as a whole. Don’t be afraid to make it more concise or to add additional content and embrace the fact that your business will always be changing.

 

Mission statements can feel overwhelming at first, but are so important for business development. Are you struggling to come up with yours? Let us know in the comments below! We'd love to help you brainstorm.