Creating Business Start-Ups the Kawasaki Way

Summary

In this video, the speaker critiques the obsession with creating mission statements in startups, suggesting that such statements often end up being meaningless and overly complex. Instead, they recommend creating a simple, clear mantra—just a few words that capture the essence of the organization. Examples include ‘healthy fast food’ for Wendy’s and ‘peace of mind’ for FedEx. The speaker also humorously suggests using a free online tool, the Dilbert Mission Statement Generator, to create absurdly corporate-sounding mission statements, providing a fun, lighthearted alternative to wasting resources on overly formal documents.

Takeaways

• 😀 Mission statements in startups are often unnecessary and ineffective.
• 😀 Many entrepreneurs mistakenly focus on creating long, complex mission statements.
• 😀 A mission statement should be concise and focus on the core goals of the company.
• 😀 Instead of a mission statement, entrepreneurs should create a simple, memorable mantra.
• 😀 Mantras are short (3-4 words) and help capture the essence of an organization.
• 😀 Example mantras include: 'Healthy Fast Food' (Wendy's), 'Peace of Mind' (FedEx), and 'Authentic Athletic Performance' (Nike).
• 😀 A good mantra works for both customers and employees, guiding their actions and mindsets.
• 😀 Personal mantras can also be meaningful; for example, 'Empowering Entrepreneurs' is the speaker's personal mantra.
• 😀 A mission statement often fails to be memorable or actionable for employees.
• 😀 For those still wanting a mission statement, the Dilbert Mission Statement Generator offers a quick and humorous alternative.

Q & A

What is the primary distinction between a mission statement and a mantra?

A mission statement is usually a long and detailed description of a company's purpose, while a mantra is a short, memorable phrase (usually 3-4 words) that captures the essence of the company’s goals.

Why does the speaker recommend using a mantra instead of a mission statement in the early stages of a startup?

The speaker argues that a mission statement is often too long, hard to remember, and ineffective in focusing the company, whereas a mantra is brief, easy to remember, and serves as a better guiding principle for employees.

How does the speaker criticize typical mission statements, using Wendy’s as an example?

The speaker criticizes Wendy's mission statement for being too long and vague, stating that it's a 50,000-dollar statement created by a consulting firm and not something that employees would actually remember or use.

Can you provide an example of an effective mantra for a company, according to the speaker?

Yes, the speaker gives several examples, such as 'Healthy fast food' for Wendy’s, 'Peace of mind' for FedEx, 'Authentic athletic performance' for Nike, and 'Enriching women’s lives' for Mary Kay.

What is the purpose of a mantra for a company, and how does it differ from a mission statement?

A mantra focuses on a simple, core message that employees can remember and rally behind, while a mission statement tries to cover a broad range of ideas and can often become too complex or forgettable.

Why does the speaker mention the Dilbert Mission Statement Generator?

The speaker humorously mentions the Dilbert Mission Statement Generator as a way to show how mission statements can become overly complex and meaningless. It creates ridiculous, buzzword-laden statements that sound official but lack real purpose.

What does the speaker suggest about the effectiveness of mission statements after a company grows?

After a company grows, the speaker suggests that it may be useful to create a more formal mission statement with the help of consultants, but for early-stage startups, a mantra is more effective.

How does the speaker view the role of consultants in creating mission statements?

The speaker believes consultants can be helpful for large companies, but they often produce mission statements that are long-winded and ineffective for smaller companies or startups.

What is the suggested mantra for FedEx, and why is it appropriate?

The suggested mantra for FedEx is 'Peace of mind.' This is appropriate because it reflects what customers seek from FedEx: assurance that their deliveries will arrive safely and on time.

What is the personal mantra of the speaker, and what does it represent?

The speaker's personal mantra is 'Empowering entrepreneurs.' This represents the core mission of the speaker, which is to help entrepreneurs succeed and grow.