Your Mission Statement

By Dani Greer

Yesterday, we met Annie and her Mom and learned about the new greeting card shop they plan to open. Today, Mom walks into Annie’s room and asks this question. “Annie, do you know what a mission statement is? I read today that every business should have one.”

“Hmm –  is it why they have a business?”

“Well, yes, I guess that’s what it means, in simple terms,” said her mother.

 

“And it’s the next part of our business plan, Mom! We have to figure out why we’re opening the Thank You Shop.”

“So tell me why, Miss Entrepreneur,” said Mom as she laughed.

“To make money,” Annie replied.

Annie really is a bright girl, because too often, making money isn’t included in a mission statement. The more altruistic goals–saving the environment and building a better future to name a couple­–are. What do those mean exactly, and does the company mission engage all the people who are involved? Do they understand it or does it sound like so much gibberish? Making money is tangible. It supports production and pays salaries. It pays the rent and all the other expenses of the business. A smart planner knows that the company needs to earn as much as it spends. It’s that simple. So earning should be included in the Why? of the company plan.

There are other reasons companies exist beyond making money. In Mom and Annie’s shop, they plan to provide a convenience to customers who want to say “thank you”, but perhaps don’t have time to write their own letter or make a hand-made card. Buying a special card at a shop allows people to be grateful without investing time they might not have. But the effort still counts in a big way, because saying “thank you” makes people feel appreciated and improves everyone’s life in a positive way.

So Annie and her Mom can say that part of their mission statement is to provide a convenience to customers and allows them to improve the planet in a good way by making others feel appreciated. Plus they get to make money doing it, because it’s part of why they have a business.

They might also want to have fun at it. That's not a bad thing to add to any business plan!

Do you have a mission statement for your business? Do you know why you do what you do, and does it include earning money? Don’t be shy. Figure out how much that sum is. Regularly review all the parts of your mission statement and makes adjustments as your business changes and grows.

Share with us your thoughts about all this. What is the why of your business?