One of the first steps to be completed for a new venture is to formally define your corporate mission. From a strategic perspective, identifying your corporate mission will allow focus and help to bring together and motivate your team. From a logistical standpoint, formally defining your mission will help to minimize delays and cost overruns. The first step in defining your corporate mission starts with writing your formal mission statement. A mission statement is a written record highlighting what you hope to achieve as a company. This high level statement is often no more than a few sentences. It should not detail all aspects of your strategy, but instead be a broad, sweeping mantra defining the overall aim of your venture. For example, Google started with a simple focus of “Do no harm”. While this is briefer than most mission statements, it highlights that the statement can be a broad decree.
Try This: Share your mission statement with all members of the venture. Seek their input as to whether the statement makes sense, has clarity, and it aligned with what they perceive to be the vision of the company.
Avoid This: Don’t seek to create the perfect mission statement. The process of creating a mission statement is often as important as the words themselves. The process is intended to bring together employees and highlight the firm’s general purpose.