A mission statement describes the primary mission or purpose of your company. As such, it should reflect the value that your business will add to the economy. It need not be wordy, but it must be powerful. It will serve as the primary catalyst for the development of your young enterprise.

Your mission statement should embody the values of your organization and provide a clear vision for its future. It must be carefully crafted so that it expresses your mission in a bold and concise manner.

By keeping your mission statement relatively short and simple, you will ensure that it will be widely read and understood by the various stakeholders in your business. Employees, investors, and customers will all have an interest in knowing and understanding the mission of your company.

Many companies prominently display their mission statement on wall plaques. Others distribute paperweights, leaflets, and brochures bearing their mission statement to customers and employees.

An effective mission statement should clearly describe your specific business and the value it will add to the economy.

The following examples will help get your mind focused on your present mission: to create your own mission statement.

"We will be the best producer of widgets in the industry. We will exceed our customers' requirements. We will produce the most reliable and innovative products on the market."

"We will provide the most dependable service in the industry. We will continually search for opportunities to perform our services faster, cheaper and better."

"We will provide our customers with the best value available in the marketplace. We will deliver the highest quality products at the best possible price."

"We will maximize value for our shareholders by producing and delivering products and services which consistently exceed customer expectations."

Notice that these mission statements do not explicitly focus on the creation of personal wealth for you as the owner of the business. Financial rewards will come in direct proportion to the value created by your business. The intent of the mission statement is to focus your organization on creating value for its customers. A business enterprise is not legitimized until value is created and conveyed. An effective mission statement should inspire and challenge your staff to this end.

Developing a Business Plan