How To Write A Great Company Mission Statement In 3 Steps

CEO Entrepreneur
25 Aug 202108:20

Summary

TLDRIn this video, Tamer Shahin discusses how to create an effective company mission statement. He explains the differences between a mission and a vision, emphasizing that a mission outlines the daily purpose of a business and its core actions. Key questions to ask when forming a mission include: Why does your business exist? Who does it serve? And what does it do? Shahin provides examples from companies like Tesla and IKEA to demonstrate how a mission links to vision. The video is part of Shahin's Firestarter program, designed to help small businesses grow.

Takeaways

  • 🚀 The mission statement is crucial for your business from Day Zero and guides day-to-day operations.
  • 🎯 The mission focuses on what the business does daily and why it exists, distinguishing it from the vision.
  • 🔗 The mission links the company's values and vision together, serving as the core purpose of the business.
  • 📋 Before diving into strategy, foundational elements like the mission and vision need to be in place.
  • ❓ Key questions to form a mission: Why do we exist? Who do we serve? What do we do to achieve our goals?
  • 💡 A good mission statement needs to be clear, concise, and address the business's purpose and target audience.
  • 🌍 Example missions: Tesla's mission is to accelerate the transition to sustainable energy, while Facebook's mission is to build community and bring the world closer together.
  • 🏡 IKEA’s mission ties into their vision by offering affordable, well-designed home furnishings to as many people as possible.
  • 📝 Focus on answering the core questions first when writing a mission, rather than creating fancy or complex language.
  • 🎯 After defining the mission, the next step is developing the business strategy to guide the company's growth and operations.

Q & A

  • What is the main purpose of a company's mission statement?

    -The mission statement defines a company's day-to-day purpose, outlining what the business does, why it exists, and what it aims to achieve on a regular basis.

  • How does a mission statement differ from a vision statement?

    -A mission statement focuses on what a company does daily and why it exists, while a vision statement is more about the long-term future and the ultimate goal the company aims to achieve.

  • Why is it important to create a mission statement from Day Zero of starting a business?

    -Creating a mission statement from the beginning helps guide the direction of the company, ensuring that all actions are aligned with its purpose and long-term goals.

  • Where does the mission statement fit within a company's strategy playbook?

    -The mission statement fits between a company's values and its vision, linking the two together by defining the company's purpose and what it does to achieve its vision.

  • What key questions should be asked when developing a mission statement?

    -The key questions are: Why do we exist? Why is achieving our purpose important? What will we work on to achieve our goals? Who do we serve, and what do we do?

  • Why should a company understand its purpose when formulating its mission?

    -Understanding the company’s purpose is essential because it serves as the foundation for its mission, guiding its daily activities and defining why the business exists.

  • What is the role of clarity in writing a mission statement?

    -A mission statement should be clear and concise, effectively communicating the company's purpose, who it serves, and what it does without needing fancy wording.

  • How does Tesla's mission statement serve as an example?

    -Tesla’s mission, 'to accelerate the world's transition to sustainable energy,' clearly defines its purpose and what it aims to achieve, guiding its daily operations toward this goal.

  • What is the difference between IKEA's vision and mission statements?

    -IKEA’s vision is to 'create a better everyday life for the many people,' while its mission focuses on offering well-designed, functional home furnishings at affordable prices to support this vision.

  • What is the next step after defining the company's mission, according to the video?

    -The next step is to develop the business strategy, which involves identifying challenges and creating a plan to achieve the mission and vision in a sustainable and consistent manner.

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الوسوم ذات الصلة
Business StrategyMission StatementSmall BusinessVision vs MissionPurposeFirestarter ProgramBusiness GrowthCompany ValuesSustainable GrowthEntrepreneurship
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