You might be thinking:
Isn't that so yesterday?
Do they actually get used? Does it really help? We get it.
But here's the thing...
80% of businesses fail within the first 18 months. (Forbes)
Now combine that grim stat with ample evidence that businesses who have Mission and Vision Statements "outperform those who do not." (Bain and Company).
Mission and Vision Statements, along with clearly defined values, are a powerful driving force behind all that you do - from customer experience to marketing plans to decision-making across the board.
Thoughtfully prepared Mission and Vision Statements are KEY to keeping you on track with who you are, what you do, and where you want to be in the future.
A Mission Statement states your business's purpose, at its core. In other words, it defines and clarifies what you do, who you do it for, and how it is done now.
A Vision Statement, on the other hand, defines what you want for your business in the future - what you want to achieve.
Values relate to the culture you want for your business - the behaviors and attitudes that should permeate throughout interactions with staff, vendors, and customers.
Let's take a look at 3 examples we gathered from websites - two local businesses and one national non-profit…
1. The Clay Studio, Philadelphia, PAMission: To provide a unique learning environment in which to experience the ceramic arts.Vision: The Clay Studio is a world-class arts organization, serving all those who seek to learn within the ceramic arts. Being world-class means being the best in terms of our innovation, curriculum, artist educators, and community interactions...
2. Gelman, Rosenberg & Freedman, Bethesda, MD
Mission Statement: To provide exceptional financial, tax and consulting services to our clients.
Vision Statement: "...we will continue to be known as the firm where personal attention will never become obsolete..."
Core Values: All of our people are proudly committed to the following values:
From small local businesses to international businesses,
from service-based to product-based,
and from profit to non-profit businesses…
3. Alzheimer's Association:
Mission Statement: To eliminate Alzheimer's disease through the advancement of research; to provide and enhance care and support for all affected; and to reduce the risk of dementia through the promotion of brain health.
Vision Statement: A world without Alzheimer's.
Core values: The Alzheimer's Association's core values are forged by our commitment to the highest ethical standards and drive our priorities, commitments and organizational decisions. Our reputation is the ultimate asset, and these core values guide our behaviors, judgments and how we accomplish our mission:
Integrity - We assure and maintain transparency in our relationships with each other and with our various constituencies.
Commitment to excellence - We lead through innovation, maximize technology to its fullest and relentlessly increase our knowledge.
Inclusiveness - We operate in a spirit of inclusiveness by providing opportunities and forums for our many stakeholders to be represented and heard across activities throughout the Association.
Diversity - We vigorously encourage and welcome the power of diversity especially those who have been underserved or underrepresented.
Consumer focus - We seek to understand, learn from and meet the needs of individuals with Alzheimer's disease, their families and caregivers.
Accountability - We keep our commitments and make measurable progress to achieve our mission.
Mission and vision statements, combined with values, work together to keep you focused on who you want to be, how you are going to get there and the values that matter most.
Make sure your business not only stays afloat, but THRIVES.
How, exactly do we go about developing our mission, vision, and core values?
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