Business plan startup
Mission Statement

Now we come to the much maligned Mission Statement. Most small business people think, “Oh I don’t need a Mission Statement, that’s just corporate hogwash.” I disagree. Let’s take a look at DK Designs. Does Deanne need a Mission Statement for her jewelry business? Let’s examine three potential versions of her Mission Statement to answer that question:

Mission Statement 1 for Business Plan Startup

DK Designs creates semi-precious, on-of-a-kind jewelry that is sold in exclusive boutiques throughout the northern Chicago area.

Mission Statement 2 for Business Plan Startup

DK Designs is an online jewelry re-seller specializing in affordable, wearable designs for the working women around the world.

Mission Statement 3 for Business Plan Startup

DK Designs customizes jewelry creating on-of-a-kind pieces suitable for woman of any age. These beautiful yet affordable designs are available at salons and spa throughout Illinois and Wisconsin.

All of these examples could be the Mission Statement for DK Design, but the reason for writing all of these versions of a Mission Statement is to decide which one IS the description of her business.

Defining your mission forces you to decide what you’re actually doing, who your target customers are and how you’re going to reach them. Without a clearly defined Mission Statement you may try a little bit of each version you write, and fail to be any of them.

Try writing three different mission statements for your business. Include what you do, who your customers are and how you’ll reach your customers. Writing the three statements will help you decide what the real issues with your business are.

Once you’ve written three possible statements look at each one and try to determine which truly reflects the business you’d like to start.

Which one did Deanne choose?

DK Design has settled on the first mission statement because that’s what Deanne WANTS to do. She’s not interested in volume, she interested in design. Will she maximize her profit potential? She may not realize the full potential, but she’ll love what she’s doing and that will hopefully make her business prosper.

Certainly she has chosen the riskiest choice but because she understands three versions of the statement she can change it later if circumstances dictate that she must. That’s the value of business plan startup; you can pick a direction to begin with and then CHANGE direction if necessary.

Having trouble with your mission statement?

Are you having trouble writing three mission statements for your business? Try to analyze why you’re stuck. Have you REALLY defined the business you want to be in? What would it take you to define it? Try answering these three questions:

-1. What is a three to four word description of my product?
-2. Where will I sell my product?
-3. Who am I going to sell it too? (Be as specific as possible)

If you’re still stuck try moving on to other parts of planning and come back to this. Try writing your Vision Statement, then go back to your Mission Statement. This might help give you clarity.

Hopefully you are able to finish your Mission Statement:

Go to Business Plan Startup Vision Statement