Shaping Your Company with Mission, Vision, and Core Values
When you first dream of starting a business the first thing that comes to mind may be all the money you can make, how much the start-up cost will be, what kind of business you will start etc. Starting a business isn’t easy!
One of the first things you’ll need when starting your own business is vision and without it, you can be a little lost. What do you envision for your business? I’m sure success is a reason, but dig a little deeper!
Do you envision opening a business because you see a need in your community and you have a service you could offer?
Are you starting a business to bring others together maybe over a meal or a cup of coffee?
Will your business be of good use to others?
Vision statements allow others to see a glimpse of what you hope your brand will stand for. Having a vision for your business can lay the fundamental foundations that are required for a business to grow in the proper direction. Your vision statement should describe where the company wants the community or the world to go as a result of the services they offer. A vision statement is a brand looking toward the future and saying what it hopes to achieve through its mission statement.
Some public vision statement examples are:
Alzheimer's Association: A world without Alzheimer’s disease.
Facebook: To connect with friends and the world around you on Facebook.
Southwest: To be the world’s most loved, most efficient, and most profitable airline.
A mission statement will be the backbone of your business. The mission statement clarifies what the company wishes to achieve, who they want to support, and why they want to be supported. In your mission statement, it should include your company’s function, target audience, and any key elements.
Some examples of a vision statement are:
Ikea: To create a better everyday life for the many people
JetBlue: To inspire humanity- both in the air and on the ground
Tesla: To accelerate the world's transition to sustainable energy.
We all have core values that we live by and so should your company. Having core values for your business ensures everyone is working towards the same common goal. Core values are usually the biggest driver of company culture--it’s what attracts the right team members and clients. For example, if one of your core values is giving great customer service and it is taught through your company, this will become the culture throughout. When interacting with customers, delivering great customer service will be at the forefront of the line because that is something your company values. In return, when customers receive that they will more than likely want to continue to do business with you and tell others about how great your customer service was.
Some examples of core values are integrity, accountability, passion, fun, diversity, and innovation. When your company holds these qualities it is shown throughout the workplace as well when dealing with your customer.
American Express has a core value of customer commitment which means they strive to develop relationships that make a positive impact on their customers lives.
Coca-Cola has accountability listed as one of their core values and says if it is to be, it’s up to me. They also list diversity as a value and they want to be as inclusive as all of their brands.
Ultimately holding great core values can better help your audience identify, stay loyal, and tell others about you as well. Upholding these values will create long-term success within your company, with less turnover.
Your mission is the road in which leads to your vision, and your core values are what protect you along the way. It’s important to take the time to understand your mission and be clear that they align with your goals. By ensuring you have a clear mission and goals will allow for a positive impact throughout daily interactions and a positive work environment. In addition to clear goals and mission, it allows for others on the outside to not only build trust within you but your brand as well which will lead to true long-term loyalty.
