24 Aug

The Simple Business Plan – Mission, Vision, Values

Mission, Vision, Values.  Each of these contributes to the story of your business. The development of your mission, vision, and values will help you define your organization’s strategy, the direction it will go and become successful. If you haven’t developed your Mission, Vision, and Values your employees will not know which direction you want to go, and your customers will be confused.  Exploring each of these will help you understand their importance but also the role they play in the success of your business.

We’ll begin with Mission

Mission

Your mission defines your business, its products or services, and customers.  Further,  a mission statement helps the business differentiate itself from its competitors by addressing three important questions;

  • What do we do?
  • Who do we do it for?
  • What is the benefit of our doing it?

The mission should never be just words on a wall.

Vision

Your Vision, like the Mission, is a statement of purpose.  Only this time the statement goes beyond the why.  It describes what in the form of an outcome.  What will your business be or look like if you accomplish your mission?  A strong and compelling vision statement attracts commitment from your workforce, energizes workers and customers, and creates a purpose in the lives of your workers.  In today’s workplace, it becomes a strong recruiting tool.

Your vision should never be just words on a wall.

Values

Values are your guiding principles; the moral and ethical rules you operate under.  Some go as far as saying that a Values statement describes how you will make decisions.  They tell your employees how they should act and when faced with a challenging situation, show them what to do.

Values should never be just words on a wall.

Mission, Vision, and Values

Mission, vision, and values are an important part of your business strategy and its development. The basic principles of values such as honesty, integrity, respect, and professional behavior, are brought together to develop your mission statement.  This describes what the organization is all about. When you identify the mission of your business, you also identify where the business is and how it conducts business. Your values explain how your business will reach the goals, or vision, that you have established.  If you haven’t defined your values, and live them, you’re your mission and vision won’t happen.

Next week we’ll address Marketing Strategy as we help you design, develop, and execute your business plan.  If at any time you decide you’d like professional help in developing your business plan that is scaled to your business, simply click here for a no-obligation initial phone conversation.

 

The Series So Far:

The Simple Business Plan