Writing A Mission Statement

Writing a mission statement is critical for every small business. A mission statement helps focus your efforts and the efforts of your employees.

According to a Dun & Bradstreet survey, 40% of all small businesses fail between the first and fifth year, 27% fail between the sixth and tenth year, and another 33% fail after the tenth year.

Another survey by Willard & Shullman Group found that only 14% of small businesses had an annual company business plan and that 60% had no written plans whatsoever.

Is it surprising then that so many small businesses fail?

Abraham Lincoln once said, “If I had 8 hours to chop down a tree, I would spend 6 sharpening my axe.” Make no mistake, creating a mission statement for your small business is not an option.

A mission statement is your customer focused business definition. It’s your sense of purpose. The reason why you get up every day and do what you do. It encapsulates your values and visions, your employees and community, your suppliers and stakeholders. It literally is the foundation for your company’s future.

It doesn’t have to be fancy. It doesn’t need to be written in complex language. In fact, the simpler the better.

What’s the best way to go about defining your corporate mission statement?

Just follow the simple two-step process below.

Step 1: Define Your Business

The first step in writing a mission statement is to define your business. This needs to be written down on paper. Please download the below Business Definition Worksheet PDF by right-clicking and saving to your desktop. Print it and then take your time to research the questions and fill it out. Once you are finished, you are ready to continue to step 2.

Business Definition Worksheet

Step 2: Write Your Mission Statement

The next step in defining your mission statement is to fill out the Mission Statement Worksheet below. Again, it is a PDF document and you can save it to your desktop and print it out. This sheet, in conjunction with the Business Definition Worksheet in Step 1, will lead you to defining an effective corporate mission statement.

Mission Statement Worksheet

I have one last thing to add. You must evaluate your mission statement on a yearly basis.

No business is a static entity. You will find that as your business grows and changes, so will your values and sense of purpose. The only thing you can do is create a focused mission statement that is best for your business today. It’s truly one of the most important things you can do for your small business!

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