The majority of online entrepreneurs make the mistake of not taking the time and crafting a mission statement. Even online entrepreneurs who are in the business for a while don’t do it.
If you don’t have a clear and concise idea of what your mission is, how will your business partners, your vendors, your employees, and your customers? They just can’t.
Your business should have a mission statement. It tells your customers, business partners, potential clients what you are about and it removes the confusion.
No one will know what you are about and it will be hard to do business and have positive cash flow!
Once you have a mission statement, what you will find is that your customers will understand you better. They know what you are about. Your employees and your business partners will have a clear vision of how to work with you. It will make your life easier and their lives easier.
Your mission statement should be short and to the point of your company’s purpose. It should tell people what your business is all about and why it exists.
Peter Drucker in his book, The Five Most Important Questions You Will Ever Ask About Your Organization says:
“A mission cannot be impersonal; it has to have deep meaning, be something you believe in – something you know is right. A fundamental responsibility of leadership is to make sure that everybody knows the mission, understands it, lives it.”
If you don’t have a mission statement yet, I suggest you come up with one right away. It would definitely set your business in the right direction.
If you never done one before, there are 5 points it should address:
1. What is the purpose of your company why does it exist?
2. Who are your customers?
3. What does your company aspire to be?
4. What makes your company unique?
5. What products or services does your company offer?
Your mission statement should be specific and narrow enough so that it doesn’t apply to just any company, but it should be flexible enough to allow for growth and change. Make sure to review it on a regular basis to see if you and your company are following your mission statement. If your company is steering away from your mission statement, maybe it’s time to change your mission statement.
It should be clear and does not contain “fluff” words and jargon that potential customers, partners, and employees to do not understand. Put it on your website where people can see it.
Writing a mission statement is not enough though, you must live it on a daily basis. Use it as a tool to guide your business decision-making, how you communicate with your customers, partners, and vendors. You will find that you won’t be making any more questionable decisions.