A mission statement is more than just a string of words; it’s the essence of a company’s purpose, values, and direction. It guides decision-making, attracts great employees, and inspires confidence in customers. Let’s delve into what makes a successful company mission statement, discuss how it can influence business growth, and look at some real-life inspiring business mission statement examples.
What Makes a Great Business Mission Statement?
A great business mission statement is clear and straightforward. It should be easy to understand by anyone who reads it – employees, customers, stakeholders, etc. The core message should be communicated without confusion, jargon, or overly complex language.
A company mission statement should inspire and nurture ambition among the internal team and external audiences alike. It should reflect a company’s ambitions and aspirations, motivating employees to work toward a shared goal. The best mission statements evoke a sense of purpose that goes beyond mere profit-making.
Great mission statements emphasize the value and impact the company brings to its customers or the world. This focus on value aligns the brand with the company’s long-term goals and customer expectations.
A mission statement should be authentic and reflect the company’s true values. It should align with the company’s culture, operations, and strategic goals. When a business mission statement is authentic, it becomes a true reflection of the company’s identity.
How Mission Statements Influence Business Growth
A brand mission statement is just a statement; does it really have an effect on business growth? Yes, it does! Mission statements affect growth by:
Driving Strategic Decisions
A well-crafted mission statement provides a framework for strategic decision-making. It’s a constant reminder of the company’s purpose, guiding leadership when making crucial decisions. When companies stay true to their mission, they’re more likely to make choices that align with their long-term vision.
Attracting and Retaining Talent
Mission statements play a crucial role in attracting and retaining top talent. Employees are more likely to join and stay with a company whose mission resonates with their personal values and beliefs. A strong business mission statement can attract workers who have the same values and goals as the company.
Building Customer Loyalty
A compelling company mission statement helps build a strong emotional connection with customers. When customers identify with a company’s mission, they’re more likely to develop loyalty to the brand. This loyalty translates into repeat business, word-of-mouth referrals, and positive brand reputation, all of which contribute to growth.
Creating Differentiation in the Market
In a competitive marketplace, a unique and powerful brand mission statement can set a company apart from its competitors. It communicates what makes the company different from others and why it matters. Companies with a mission that stands out are more likely to stay relevant and competitive in a cluttered market.
Inspiring Mission Statement Examples for Business Growth
Let’s look at some efficient business mission statement examples from the tech, finance, education, non-profit, market research, and legal industries.
Tech
Google: To organize the world’s information and make it universally accessible and useful.
Google’s mission statement captures its core function and global ambition, emphasizing accessibility and usefulness. This clarity drives its continuous innovation and market leadership.
Microsoft: To empower every person and every organization on the planet to achieve more.
Microsoft’s mission is broad yet powerful, reflecting its commitment to inclusivity and empowerment. This mission guides its diverse range of products and services, fostering growth through a global impact.
Finance
American Express: To become essential to our customers by providing differentiated products and services to help them achieve their aspirations.
American Express focuses on service excellence. This mission statement drives the company’s dedication to helping customers achieve their goals, building the trust and loyalty that fuel growth.
Education
Khan Academy: To provide a free, world-class education for anyone, anywhere.
Khan Academy’s mission underscores its commitment to educational equality and accessibility. By offering free, high-quality resources, it has become a leader in the field of E-Learning, driving growth through its widespread appeal.
Non-Profit
charity: water: To bring clean and safe water to people around the world.
charity: water’s mission is straightforward and impactful, focusing on a specific and important goal. This clarity attracts donors and volunteers, driving the organization’s growth and success.
The Nature Conservancy: To conserve the lands and waters on which all life depends.
The Nature Conservancy’s mission is broad but essential, emphasizing the importance of conservation by stating plainly why it matters to everyone. This mission pulls support from a wide range of stakeholders, fueling its global efforts and growth.
Market Research
Nielsen: To provide clients with the most complete understanding of consumers and markets worldwide.
Nielsen’s mission emphasizes how its work can affect the future of media for everyone, positioning it as a leader in market research. This focus on understanding consumers drives its innovation and market dominance.
Ipsos: At Ipsos, we are passionately curious about Society, Markets and People. “Game Changers” – our tagline – summarises our ambition: we provide true understanding and make our changing world easier to navigate, so that our clients can make faster, smarter and bolder decisions.
Ipsos’s mission highlights its commitment to actionable and accessible insights, which sets it apart in the competitive market research industry, fostering growth and client loyalty.
Legal
Latham & Watkins: We bring together the world’s best legal talent in every major jurisdiction to shape the deals and win the disputes that transform markets.
Latham & Watkins’ mission statement emphasizes talent, collaboration, and global impact, which strengthens its client relationships and supports its position as a top-tier law firm.
How to Create a Strong Company Mission Statement
Crafting an effective mission statement requires careful thought and a deep understanding of your company’s purpose and values. Here’s a step-by-step guide to help you create a business mission statement that inspires growth:
- Define your purpose.
Begin by asking, “Why does our company exist?” This purpose will form the foundation of your mission statement and must be beyond simply making a profit.
- Identify your core values.
What principles guide your company’s decisions and actions? List the core values that are integral to your company’s culture and operations.
- Consider your impact.
Think about the impact your company wants to have on its customers, community, or the world. Your brand mission statement should highlight this impact, making it clear how your company contributes to the greater good.
- Keep it concise and clear.
A mission statement should be brief and to the point, ideally no longer than one or two sentences. Avoid jargon and complex language; instead, focus on clarity and simplicity.
- Make it inspiring.
Your company mission statement should inspire both your employees and your customers. Use language that evokes passion and motivation, reflecting your company’s ambitions.
- Align it with long-term goals.
Although the mission statement focuses more on the present than the future, it should align with your company’s long-term goals. Your business mission statement should remain applicable for years to come.
- Involve key stakeholders.
Gather insights from key stakeholders, such as employees, leadership, and even customers, to help you craft your mission statement.
- Test and refine.
Once you’ve drafted your mission statement, share it with a small group of stakeholders. Gather feedback and refine the statement until everyone involved feels confident about it.
Conclusion
A strong mission statement can guide a company’s strategy, motivate employees, and build customer loyalty. It should be clear, concise, and aligned with the company’s core values and long-term goals. By defining your purpose, identifying your impact, and involving key stakeholders, you can create a business mission statement that inspires everyone who interacts with your company and drives growth and success for your business.
Writing an effective company mission statement along with other important text for your business is no small task. All your content should be clear, error-free, and consistent with your brand’s voice and values. If you’d like our expert editors to help lighten the load, schedule a call with Proofed for Business today.
FAQs
What is a brand mission statement and why is it important?
A brand mission statement defines the purpose, goals, and values of a company. It communicates what the company stands for and its reason for existence. The mission statement guides strategic decisions, inspires employees, and helps build a strong connection with customers.
What is the difference between a vision and a mission statement?
A vision statement describes what a company aspires to achieve in the future – its long-term goals and desired impact. A mission statement, on the other hand, focuses on the present, outlining the company’s purpose, how it operates, and what it aims to accomplish today.
Can a company mission statement evolve over time?
Yes, a company mission statement can and should evolve over time. As a company grows, its goals, market, and values may change, necessitating updates to the mission statement to reflect its new direction and ensure continued relevance.
