by Zuleika Ellis, Contributing Author
EZ Business Consulting
We often hear these terms in business and assume that a company’s Mission and Vision are equivalent to an advertisement. Although it is the strategy of many companies to incorporate these statements in ads, these are not one and the same. Mission and Vision statements can be implemented and used to measure performance, keep staff motivated and focused, and remain true to the purpose of the business.
An Example of a Mission Statement
A Mission Statement defines an organization’s purpose. It clearly states why it exists and its goals to serve its clients or customers.
The elements of a good mission statement include:
- A good description of the company.
- A clear statement of what the company does.
- A strong but short summary of your company’s purpose.
There are companies with brands and reach that are so grand that they do not need details. Can you guess what company states this mission, “Refreshing the world. Make a Difference”. Yes, it’s Coca-Cola.
What is a Vision Statement?
A Vision Statement communicates a company’s objectives and the goals it aims to achieve for its clients or customers.
The elements of a good vision statement include:
- The What. (objective)
- The How. (road)
- The Why. (benefit)
The furniture retailer, IKEA, has a vision statement. It says, “Our vision is to create a better everyday life for the many people. This vision goes beyond home furnishing. We want to have a positive impact on the world – from the communities where we source our raw materials to the way our products help our customers live a more sustainable life at home”
Benefits of a Company Mission and Vision Statement
Mission and vision statements are imperative for both well-established and new startup company brands. Startup business owners are often encouraged to write a business plan, and these statements in the plan provide clarity for the owners, customers, and potential investors to define their unique selling point — how the business stands apart from its competition.
In addition to clarity, these important business statements provide a consistent message across all the marketing collateral, including logos, slogans, websites, print materials, multi-media campaigns, and so on.
Skipping this step in your business development can cause confusion about your product or service and cost valuable time making a return on your business investments.
So, the question is, are you confident about your Mission and Vision statement?
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