How to Write Mission Statement for Business Plan. Your mission statement should be written in a way that reflects the values of your business. It lets potential customers know the direction your company is going and the purpose it serves. It also defines what success will mean for your company.
An organization’s mission statement is a statement that expresses the reason for existence of the organization. It defines the purpose of the organization and helps to define what should and what should not be done.
Your mission statement will help you stay on target with your business plan and also provide an example for how others can understand your purpose.
3 Elements to Consider
A mission statement is that one sentence that describes what you stand for. It’s a short, simple statement about your business and why it exists. As with any written plan or manifesto, it should have three essential elements
Objective: This is the reason you are doing this (e.g., to open a bakery)
Metrics: What do we measure in order to know whether our objective is achieved?
Vision: This can be more broad than an objective and could encompass anything from your company’s founding vision to your vision of the future.
How to Write Mission Statement
Your mission statement is at the heart of your business plan.
When determining your vision for the business, you need to keep in mind different aspects. This can include what type of customers the business will be reaching, the values that the business will represent and how your company plans on making a difference in the world.
- It should include details about your company’s values, who you want to serve, how you want to be different, and what your overall goals are. This is a key part that will help your audience connect with your company.
- The mission statement should be short and easy to read.
- It should also show how the company will be better than their competitors. Say what you do, why your company exists, and how long it will take for your company to reach its goals.
Your Mission Statement should be a paragraph, if not a full page, of all the things you want your business to stand for. This is the core of your business plan.
You will have to write a very concise and powerful statement that will clearly define what you want to achieve in the future with your company.
It is also important to spell out exactly how you will set about achieving this goal.
In addition, it is important to highlight who your target market are, what type of services or products you provide, and most importantly, what time frame you have for reaching success.
It’s important to use real language, but you don’t need to re-invent the wheel. Your mission statement should be short, sweet, and direct in order for it to be effective.
Mission Statements are a backbone of every business plan. They are the cornerstone of every strategic move you make. If you’re creating a new company; your mission statement is the most important piece of information you have to get started with; and it’s also the easiest for your investors to understand.
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