How to Write Your Business Plan Mission Statement

When writing your business plan, you will invariably stumble across the need to articulate a formal “mission statement” for the firm. This seemingly simple task can cause many to come to a screeching halt!

What is a mission statement?

Generally, the formal description of a mission statement is “a written or formal summary of the goals and values of a company, an organisation or a person”.

What is the purpose of a mission statement?

The statement is used to communicate a company’s:

• Goals

• Culture

• Values and Beliefs

• Norms

It may also refer to the company’s ethics.

What does a mission statement contain?

The message that the mission statement will convey should cover:

• How it intends on satisfying its customers

• What it expects from employees

• What it will do for its owners

Larger corporations often also include reference to how they engage with their community, the environment or even the world as a whole.

How to write a mission statement

Start with a market-defining story. Imagine you are the customer.

• Who are they?

• Why do they want your product/service?

• How do they find you?

• What benefits do they get from doing business with you?

While this story will not be included in the statement, it allows you to define the target customer and to identify what makes the company unique. It helps determine what the business is not and what it does not do.

Begin the statement with the good your company does. This can be as simple as offering a unique speciality in your locality – you don’t need to be changing the world. However, your claims need to be meaningful and distinct. Don’t just say something for the sake of it. Use words that are true and stick to them.

A mission statement should also take employees into consideration. If the company has a specific view on its relationship with employees, include it in the mission statement. This acts as a reminder for owners, management, and workers.

You should also add what the company does for its owners. For example, if an entrepreneur values peace of mind over growth and growth over profits, they should write it into the mission statement.

Read mission statements from other companies for inspiration, but make sure to write one that is actually about you. You must believe in what you’re writing.

How long should a mission statement be?

Your company’s mission statement should be concise and accurate.

Typically, the statement ought to be just a paragraph or two long. It should take about 30 seconds to read aloud.

Once you have drafted the statement, it is always worthwhile to go back and reduce the wordiness.

Strong mission statements fulfil a variety of purposes, define objectives, and last for a long time. Editing ensures that these goals are successfully achieved.

Beware of generic buzzwords and jargon that everybody uses. Cut these out as much as possible when you edit.

Share drafts with others and ask for their feedback. Then edit some more.

How to communicate your mission statement

Once complete, give your mission statement prominence. Ensure that your employees can see it and identify with it.

Remember, a mission statement doesn’t need to be set in stone. Review and revise as needed because change is continuous.

Help is available!

Should you require any assistance with writing your company’s mission statement, then please don’t hesitate to contact Mark Day at Irish Business Plans. We have over ten years’ experience helping entrepreneurs to prepare professional business plans and mission statements and would be delighted to assist. Get in touch to find out more.