Business Tips: Defining Your Purpose and Your Mission
The Purpose For Your Company is Different Than the Mission For Your Company
Live your life with purpose, run your business with purpose! This is the mantra of the modern day entrepreneur. Now, more than ever, entrepreneurs are seeing the value of creating a company with purpose, rather than simply fighting for higher profits. But, some are finding that differentiating the purpose of their company from their mission can get tricky. So, let’s see if we can’t clear up the confusion.
Every company should have a mission statement
The mission statement should be a description of what type of industry your business is in, and what your projections are for the future. Your mission statement is different from your company’s purpose in that it should give clear cut direction to your team and your investors for how you are going to deliver on your idea.
The mission statement is a day to day guideline or overview that is clear and concise and gives your team a direction for moving forward and achieving your goals. The mission statement should also define your customer base, and what type of service you would like to provide.
Defining the purpose of your company
The purpose of your business can get a little more philosophical than your clear-cut mission statement. When you are defining the purpose of your company, it should inspire your team and your investors. If the mission statement is “what” your company aims to do, then your purpose statement is “why” you are doing what you are doing.
To paraphrase the late great JFK, the purpose of your business should not ask what profits and customers can do for you, but what you can do for your customers.
The purpose of your company should go beyond the day to day tasks, beyond future projections, beyond the bottom line. The purpose should provide insight into the needs of the people you are trying to serve, whose lives you are trying to improve.
Make sure your business is on the road to a successful start with a well-defined purpose and mission
The purpose should humanize your business, connecting you, your team, and your investors in a single purpose: to better the lives of your customers! Your mission is the reminder or what you here to accomplish.