Crafting an impactful operational mission statement

Table of Contents:

1. Introduction
2. Why a Clear Mission is Important for Small Businesses
3. Defining Your Business's Operational Mission
4. Crafting an Effective Operational Mission Statement 4.1. Setting Quantitative Goals 4.2. Establishing a Deadline 4.3. Describing How the Goals Will be Achieved
5. Including Non-Quantitative Goals in Your Mission
6. Revisiting and Revising Your Mission
7. Keeping Financial and Personal Goals Internal
8. Next Steps: Identifying Quantitative Goals and Products/Services
9. Conclusion
10. Resources and Tools for Small Business Owners

How to Define Your Business's Operational Mission

So, you're thinking about starting a small business or you already have one, and you're not sure what to do next to make it grow. With so many aspects of running a business like research and development, marketing, branding, manufacturing, and staffing, it can be overwhelming to know where to start. This is why defining your business's operational mission is crucial. In this article, we will guide you step-by-step on how to define your business's mission and explain its importance in guiding your actions as a business owner.

Why a Clear Mission is Important for Small Businesses

Having a clearly defined and well-crafted mission for your business is essential for its successful operation. Without a clear mission, you may find yourself aimlessly navigating the business landscape without a sense of direction. Many websites may teach you how to create a powerful mission statement that inspires employees and customers, but in the small business world, an operational mission statement holds more relevance.

Defining Your Business's Operational Mission

An operational mission statement should concisely describe why you created your business and why you continue to operate it. It should be specific, clear, and articulate what you aim to achieve. The framework for an operational mission statement follows the structure: "I want to accomplish X by Y by doing Z." X represents a quantitative metric, Y is a finite date in the future, and Z describes how you plan to achieve your mission.

Crafting an Effective Operational Mission Statement

Crafting an effective operational mission statement involves three key components: setting quantitative goals, establishing a deadline, and describing how you plan to achieve those goals. Let's take a look at an example to understand these components better.

Example Operational Mission Statement: Just Marketing LLC "Just Marketing LLC exists to generate $500,000 in annual profit in less than five years while helping businesses market themselves effectively and maintaining a 40-hour work week for all employees."

In this example, the mission statement clearly outlines what the owners aim to achieve and how they plan to do it. The first component states their quantitative goal of generating $500,000 in annual profit. The second component, "in less than five years," sets the business on a timeline to accomplish this goal. Lastly, the statement describes how they plan to achieve their mission, which is by assisting businesses in marketing themselves effectively while maintaining a healthy work-life balance for their employees.

Setting clear quantitative goals, establishing a deadline, and outlining the method of achievement in your mission statement are crucial for guiding your business's actions and decision-making.

Pros:

• Provides a clear sense of direction and purpose for the business.
• Helps you establish concrete goals and deadlines, motivating action.
• Guides decision-making and prioritization of tasks.

Cons:

• Operational mission statements may not resonate emotionally with employees and customers like visionary mission statements do.
• A poorly crafted or misguided mission statement can lead to focusing on the wrong goals or strategies.

Including Non-Quantitative Goals in Your Mission

While it's essential to include quantitative goals in your operational mission statement, you shouldn't ignore non-quantitative goals if they contribute to defining what you want to achieve or how you want to achieve your goals. These non-quantitative goals may not directly impact your bottom line but can assist in shaping your overall objectives and values.

Revisit your mission statement regularly, especially when developing quarterly budgets and strategies. Ensure that it accurately reflects the goals you want to achieve as a business owner.

Revisiting and Revising Your Mission

As your business grows and evolves, it is important to revisit and revise your mission statement. Quarterly reviews of your mission statement will allow you to align your goals with the changing needs and objectives of your business. Make sure your mission statement still captures the essence of your business and expresses the goals of its owners.

Keeping Financial and Personal Goals Internal

If your operational mission statement includes financial or personal goals, it may be wise to keep those goals internal to your organization. Publicly facing mission statements should focus on value goals and communicate the overarching purpose of the business.

For example, if Just Marketing LLC included personal financial goals in their mission statement, it would be beneficial to separate those goals internally. Their public mission statement would simply state, "Just Marketing LLC exists to help businesses market themselves effectively."

Next Steps: Identifying Quantitative Goals and Products/Services

If you are unsure about the specific quantitative goals you want to set or the products and services you want to offer, don't worry. In the next video of this course, we will guide you through the process of identifying your quantitative goals and determining your products and services. These steps will help you further refine your operational mission statement.

Conclusion

Defining your business's operational mission is a crucial step in running a successful small business. It provides a clear sense of direction, motivates action, and guides decision-making. Crafting an effective operational mission statement involves setting quantitative goals, establishing a deadline, and describing how you plan to achieve those goals. Revisit and revise your mission regularly to ensure it aligns with the evolving needs of your business.