If you missed the first part of our series, make sure you go back and read part 1. The next part of our planning for the new year process takes us to look at our Mission and Vision Statements. This may sound like a pointless thing to do but it will give you a sound direction when going forward with your plan.
A mission statement tells the “why” of your business. This gives it purpose and meaning. Customers don’t necessarily buy because of your product, they buy because of why you sell it. Having a purpose can greatly influence the direction your company is heading. As part of planning for the new year, look at your mission statement and see if it matches up with the reason of why you do what you do. Often, a mission statement can change due to a change in direction, If you find that you don’t have a mission statement, I would advise you create your own. The website BPlans has a great article with a five step process for how to do it.
A vision statement can be summed up in that it “reveals, at the highest levels, what an organization most hopes to be and achieve in the long term” (business news daily). Think of it as your long term goal or what you want your company to be. This weaves a lot of your values and direction into one sentence. A good example is Walt Disney’s vision “to make people happy”. Short concise and to the point. Mission provides purpose while your vision provides more direction. Look at your vision statement and think about what you want your business to look like in 5-10 years. For more insight into building a vision statement, check out this article.
So you have looked over your mission and vision statement and finally have them aligned with where you want to take your company, but now what? Take these statement and pin them up in your office where you will see them every day. Then as you are planning, always keep these in the front of your mind. A good way to keep yourself on track is to ask these two questions when looking at any plan for a new year; will this help my mission, and does this reflect my business in 5-10 years?
I hope you have enjoyed this post. Do you want to dive deeper into how to be successful in new markets or are relocating your business and need some help? Come join our course Break into a New Market.
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