Insight

Light a beacon to your business with a mission statement

Every company, big or small, should have a mission statement. Why? When carefully conceived and well written, a mission statement can serve as a beacon to the world — letting everyone know what the business stands for and where it’s headed. It can build customer loyalty and mobilize people behind a common cause. And it can define the company’s collective personality, provide clear direction, and most of all, serve as a starting point for all of your marketing efforts. Here are some elements to consider when writing a mission statement:

Target audience. This starts with customers, of course. But it also includes employees, job candidates, investors, lenders and the community at large. You can focus a mission statement on a combination of these groups or just one of them.

Length. Some mission statements are only a single sentence. Others are long and complex, encompassing philosophies, objectives, plans and strategies. Generally, it’s best to come up with something in the middle that’s concise, easy to understand and actionable — again, a viewpoint from which your company will express itself and make decisions.

Tone. Establishing the correct tone involves a process of intentional word selection. If the language is too flowery and cumbersome, readers may not take a mission statement seriously. Then again, something too short may come off as vague or flippant. Use appropriate language that’s directed at the target audience and reflects your strategic plans.

Endurance. A mission statement should be able to withstand the test of time and, ultimately, have meaning in the long term. By the same token, its language should be current enough to reflect changes in the business and its competitive environment. A statement created years ago may no longer be relevant.

Distinctiveness. Every company is different — even those in the same industry. Customize your mission statement to express what’s different and distinguishing about your business.

An effective mission statement can be a great asset to an organization. Develop yours as part of an overall strategic planning process, starting with an analysis of your company’s culture, development, and prioritization of goals and objectives. Contact our firm to discuss this and other ways to enhance profitability.

© 2018

Related Insights

The advantages of a living trust for your estate plan | cpa in baltimore county md | Weyrich, Cronin & Sorra

Estate & Wealth Transfer Planning

The advantages of a living trust for your estate plan

Do you believe you don’t need to worry about estate planning because of the current federal estate tax exemption ($13.99 million per individual…
DOs and DON’Ts to help protect your business expense deductions | business consulting services in hunt valley md | Weyrich, Cronin & Sorra

Management Advisory Services & Business Consulting

DOs and DON’Ts to help protect your business expense deductions

If you’re claiming deductions for business meals or vehicle expenses, expect the IRS to closely review them. In some cases, taxpayers have…
The One, Big, Beautiful Bill Act extends many business-friendly tax provisions | accountant in bel air md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

The One, Big, Beautiful Bill Act extends many business-friendly tax provisions

The One, Big, Beautiful Bill Act (OBBBA) includes numerous provisions affecting the tax liability of U.S. businesses. For many businesses, the…

Connect with us

Use the form below to send us an email. WCS responds directly to all inquiries and general questions within 24 hours of posting.

This contact form is deactivated because you refused to accept Google reCaptcha service which is necessary to validate any messages sent by the form.