Small Business Tips: Why And When Do You Need A Mission Statement?

Provide professionals with proven tools needed for business growth and success utilizing mission statements. To provide direction and goals.

Every business whether small, medium, or large should have a Mission Statement for several reasons, which will be discussed after. However, in order to have a Mission Statement, you first must know what a Mission Statement is.

What is a mission statement?

A Mission Statement is a written statement which outlines your business' purpose for being (it tells what it does) and shows you where it fits in with other businesses. The mission statement shows you what type of business you are actually in because in some organizations it is not outwardly apparent what type of business it actually is.

Within an organization there can be smaller departmental mission statements, which define where the individual departments fit into the organization as a whole. They show what each department of the organization will do to bring it toward its Vision. The vision is a broader look into the future that defines where the organization is now and where the best place it could be in the future is. Companies usually have one vision statement while they my have several mission statements.

Although they are not the same, many people use the two terms interchangeably. The mission statement deals more with the present time, while the vision looks into the future. Typically there will be one mission statement for each project, each work group, or each department within the organization.

Within the mission statement there are goals that lead to accomplishment of the mission, much in the same way following a mission statement leads to the accomplishment of the ideal vision of the organization. Each mission statement will outline the project's objectives and deadlines, or the department duties, responsibilities, and goals that the department must meet in order to reach the mission and bring the organization as a whole, closer to its ideal vision.

Why do you need a mission statement?

A mission statement is good to have for several reasons. Without one, you will have nothing to plan on and act on. The mission statement will help the entrepreneur and his or her employees to know what they are doing, why they are doing it, and where they are going. It provides the direction and focus needed for making decisions and implementing those decisions.

The mission statement serves as guidance for the entrepreneur and employees to identify and clarify the business' purpose and direction. Researchers have found that high-performing organizations have more thorough mission statements than do low-performing organizations.

For a business to accomplish its vision and mission, it first has to have a vision and mission. They should each be written out, and placed in plain view, and not just be lying in the mind of the entrepreneur. Only then will everyone involved have a clear picture of the organization's mission and vision.

It will be then, that employees are able to follow the individual goals, which have been set to accomplish the mission and vision, thus producing the entrepreneur's successful venture.

© High Speed Ventures 2011