A mission statement will form part of your business plan that includes the goals you have for your business.
Having a mission statement allows you to have an overarching guide for your financial services business particularly for those times when things get tough and you feel like throwing in the towel.
Creating (or reviewing) your mission statement can be a daunting task.
It’s intimidating trying to vocalise the reasons for creating (and running) your business.
Your mission is the way in which your vision will be achieved.
These two documents are the foundation of who you are as a business.
Your mission statement announces to the world why your company exists. This is present based and worded something like –
Our Mission is to serve…(customers) with the…(products and services) in order to achieve…(why we exist).
Regardless of layout, it should leave readers with no doubt as to the following items:
Who the organisation does the work for:
What the organisation does (or aims to achieve):
Why the organisation exists (the need it satisfies):
How the organisation operates (its values/functions) :
It’s a combination of what you do and why you do it expressed in a way that outlines the values that are important to you.
Tips for Creating a Mission Statement:
When developing your mission statement, it should outline the way in which the business vision will be achieved. It is critical for the mission statement to be aligned to both the vision and the core values of the business. Keeping it short, clear and concise makes it more memorable, and as with personal goal setting, the mission statement should be feasible to achieve.
A well-crafted mission statement will provide focus and clarity as to what your business does and why it does it. Unlike personal goals a mission statement often remains the same throughout the life of a business, as such it should be broad and ongoing.
Your mission statement should be specified in terms of output not input, and is encouraged to inspire action through the use of effective and specific language. Every word counts and should be considered carefully.
Defining the Mission Statement:
Defining the mission statement for your business should begin with reviewing the current vision and core values.
The mission should support the vision and allow the vision to become a reality.
A good approach is to brainstorm the following questions:
What is the work that I/we do?
Why do we do this work and who will benefit from it?
How should we operate in order to achieve our vision and values?
Record your responses.
Sort through and pick out any key words that have come up consistently that best represent your business.
Combine these into a sentence or paragraph that uses language to inspire action.
When completed your Mission statement becomes a commitment to you and your customers.
Finally make your Mission Statement visible in your premises, on your website and you can even include it on marketing materials.
– to guide small business owners in the financial services fields to generate more wealth tomorrow through standing out in the online space today
Whether you need assistance developing a vision and mission statement, or putting together a strategy to drive your business, we can help you.