Whether you’ve owned your company for decades or are just starting a new business plan for a concept that hasn’t started yet, crafting a mission statement can sometimes feel daunting.  For a business owner, a mission statement can outline primary objectives for the business, which can provide focus for your team and help them cooperate.

How Long Should My Business’s Mission Statement Be?

When crafting your mission statement, thinking about how it will be used can help you decide on the relative length. Most sources agree that a mission statement should be succinct and brief. If you envision your mission statement as a mantra meant to inspire employees, you may keep it to only one sentence that can be easily memorized and repeated. On the opposite end of the spectrum, if you want to use your mission statement to inform the public or shareholders about what you do, you may need a paragraph or more. For example, if you are a non-profit, your mission statement could help you attract donors, so it could be beneficial to list all of the ways you help your cause.

Mission Statement vs. Vision Statement

Is a vision statement the same as a mission statement? A mission statement typically will focus on what your company does currently: what products or services it provides, what your identity is, and likely who you serve. On the other hand, a vision statement is what a company strives to be further down the road. This could be launching new services or reaching a larger area. Both a mission and vision statement can energize your team.

Why Create a Mission Statement?

• Focus: a mission statement can provide direction for making decisions.
• Helping Your Business Stand Out: A mission statement can identify how your business is different than your competitors.

How to Write Your Business’s Mission Statement

Now that you know what a Mission Statement is, how do you begin to write one? If you are a small company, this might start with a brainstorming session between you and any members of your leadership team. If you are a larger, established organization, you may include your board, staff, volunteers, and maybe even a public survey to gain ideas. Here is a list of questions that may help you with your mission statement:

• What solutions does our company provide, or what do you do?
• Who do we serve and how can we focus on them?
• What is important to our customers?
• What does our company do differently compared to competitors?
• Why was the company or organization started?

Polishing Your Mission Statement

Once you have a few ideas down on paper (or a tablet or phone screen) you can begin to see common themes and refine your mission statement more. Your mission statement should be easy to understand, concise, and unique to your business. Avoid goals or timelines that won’t be realistic. Also steer clear of using jargon or being overly general. Your mission statement should be able to grow with your company, so think about long-term goals and plans.

Using Your Mission Statement

Where does a mission statement live? As a business owner, that is up to you. You may choose to keep your mission statement internal if you want to avoid your competition seeing it. If your mission statement is meant to inspire employees, consider displaying it at your place of business in a well-trafficked area. As a non-profit, you may find it beneficial to place your mission statement on your website, or even in your email signature template. You can also include your mission statement with any press releases that you send out.

When to Revise Your Mission Statement

Ideally, you want to craft a mission statement that is evergreen and will accurately represent your company for many years to come. However, if you are a startup or your business has pivoted, you may need to revisit your mission statement later on down the road. If you feel as though your mission statement no longer captures the essence of your business (who you help and how you help them), it may be time to go back to the drawing board.

Insurance for Your Business

The types of risk your business is exposed to will determine what types of policies you should consider. If you have employees, most state laws will require you to carry workers’ compensation insurance. We offer a broad spectrum of insurance solutions for businesses, including:

General Liability Insurance

• Property Insurance
• Business Income Insurance
• Professional Liability Insurance
• Cyber Liability Insurance
• Workers’ Compensation Insurance

You can request a quote for your business here on our website. If you prefer to call an office, our locations are listed here.

___________________________________________________________________

This article is for general informational purposes only and is not to be relied upon or used for any particular purpose. Cross Insurance shall not be held responsible in any way for, and specifically disclaims any liability arising out of or in any way connected to, reliance on or use of any of the information contained in this article. The information contained or referenced in this article is not intended to constitute and should not be considered legal, insurance, accounting or other professional advice, nor shall it serve as a substitute for the recipient obtaining such advice. The views expressed in this article are that of its author and do not necessarily represent the views of Cross Financial Corp. and its subsidiaries and affiliates (“Cross Insurance”) or Cross Insurance’s management or shareholders.