Image by Leone Venter

Welcome to Day 2 Challenge!

What Drives Your Business

Day 2 Challenge  
Today, we work on your drive.

The mission of the business is to serve the reasons your business exists. What are the Financial, Emotional, Physical, and Spiritual (FEBS) benefits you provide to your employees, customers and your community?

Reflection:

Are you able to clearly state the mission of your business? This foundational concept goes beyond simply making a profit. This is about having clarity as to why your business exists. Your mission is the driving force - the engine - of your business.

A mission statement shouldn’t be generated simply because every other business has one. It also shouldn't be generic or vague. Your values are on display in your mission.

“Your mission statement, vision statement, core values, and service standards provide a clear focus for all while keeping your team humble and hungry. It creates that family environment in which your employees enjoy coming to work and dealing with the challenges they face each day. Your mission statement outlines why your company exists. It doesn’t have to be all fancy-pants, just a clear statement of what you do.”― Amber Hurdle

Tim Berry, the originator of Lean Business Planning, says he loves it when a mission statement defines a business so well that it feels like strategy.

Your mission is what gives you and your employees purpose. It’s also what helps you set business goals and objectives.

Berry goes on to say that a good mission statement:

  • Defines what the company does for its customers

  • Defines what the company does for its employees

  • Defines what the company does for its owners

Some will go even further to include what the company does for its community and the world.

Think about what makes your business unique. What good does it accomplish? Why is your business different than other businesses in the same field? If your mission statement could be used by some other business, then it’s definitely not specific enough.

Action:

  • Take time to get clear on your mission.

  • Again, don’t rush through this exercise.

  • Your mission is your foundation. If your foundation is unstable, you won’t be able to build a highly successful business on top of it.

© 2020 by The Fishermen - Business Navigators. Perth, Western Australia.