Why Mission, Vision and Value Statements are so important to your business.
A business can change quickly, especially with small or new businesses and knowing that you are still going in the right direction is imperative.
Creating your Mission, Vision and Values (MVV) is a key exercise for any business. It’s the game plan for what you do, how you’re going to get there and what you will uphold to get there.
Letting potential clients know what you value and who you will support (your mission and values), will let them know what kind of person you are and whether they want to work with you. If they don’t feel comfortable with your values, they would not be someone you would work well with, so it helps to really focus down further on your Ideal Client (which is another topic altogether).
Your MVV should be reviewed at least once a year and you should involve your team and any stakeholders in this exercise to, really get everyone onboard with this and make sure that they are all working towards the same goal.
Each statement shouldn’t be really long, they should just state what you are about and why. This really lays the foundations to create (and validate) strategic objectives, future projects, potential investments and opportunities as you know where you are headed.
One thing that a lot of people get stuck on and often just duplicate is the Mission and the Vision. To simplify: A mission is actionable and a vision is aspirational.
Your mission statement is your declaration for the intent of your business.
It can change to reflect your priorities and methods so that you can achieve your vision.
It is what you do, how you do it and who you do it for. It should state why you exist as a company and how you bring value to those you serve.
You should make it concise and specific so anyone can understand what your intent is.
Your vision statement is internal. This is your goals and dreams as the name entails. It is what you want to achieve based around your mission.
It is how you see your business in the next 5 years. It should be inspirational AND aspirational and whilst it should be achievable, it should stretch you too.
Your values are based around YOU! You ARE your business and the people you work with and those that work for you should all have similar values to you. No one person is the same, but if your values are kindness, generosity and helpfulness, you would not want to work with someone who is geared towards profit at any cost.
You will have many ‘words’ that become part of your values, what you stand for as a person, but you will have one or two that stand out to you and letting people know your top five will help them know you as a person and like attracts like.
Still not sure?
If you’re still not sure what to put into your statements, then review your competitors and other large companies and see what they stand for. Most won’t show their vision, but understanding your mission and values will help you.
DO NOT COPY YOUR COMPETITORS! This will not win you new clients (or friends). Plagiarism is frowned upon for a reason, you will be found out! Plus, these statements need to come from YOU! They are what YOU stand for, not what someone else does and you should just look to them for inspiration.
You should not skip over any part of this process as it's vital to your business planning!
I’m here to help you if you need it. This is the first thing we do on our Strategic Blueprint calls as it sets up where you are going as a business. I would love to help you to gain clarity on where you want to go over the next 12 months. Book a call with me below for a friendly chat to see if our values match ;).
If you would like further help to create your Mission, Vision & Values, go to my resources page to download a free workbook.