When putting together company mission, vision and core values a mistake is commonly made by directors of SMEs and those involved in copywriting for your company.
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When writing our Vision, Mission and Core Values, we often find ourselves writing things we think we should say rather than who we actually are, what we actually believe in, and what we actually aim to achieve. In addition to this (and this can make things worse) a lot of copy written in the promotion for businesses is written by the wrong people. Consequently, we frequently find a mismatch between the promotional material and the work that is actually executed within an organisation.To get it right, your Mission and Vision Statements, Core Values and Goals should all be interrelated and tie in together nicely. The best way to achieve this is by understanding how these component parts differ from each other. We then look into how they can all be drawn together thematically.
1) Your Mission Statement
The company Mission Statement should state what your company does. Therefore, it is important that it is short and memorable so that is sticks in people’s minds. While many companies make the mistake of being too obscure – using big fancy words that sound impressive – they don’t actually tell us anything about the company. While, the key is to make the Mission Statement specific enough that people understand what it is that you do and how it may differ from your competitors. A good example and especially relevant is Google’s mission statement:
‘To organise the world’s information and make it universally accessible and useful’.
2) Your Vision Statement
Your company Vision Statement is what your company aspires to be. So this can be very different to what a company is and does (Mission Statement). Consequently, you will know that you have got this right when you find that the statement motivates and drives decisions and goals in your company. An example of a rather good Vision Statement is that of the Ford Motor Company:
‘To become the world’s leading Consumer Company for automotive products and services’
3) Your Company Core Values
The Core Values of your company are what support the company vision, set up and shape the company culture, and reflect what your company (literally) values. These values are the principles and beliefs that guide your company. It is best to put a limit on the number of Core Values to five. Exceeding five makes it difficult for your employee’s to memorise them. The telephone bank, First Direct, has the following core values (they actually have six):
Responsive
Openness
Right first time
Respect
Contribution
Kaizen (this is Japanese for continuous improvement)
4) Setting Goals for your Company
Nowadays, many companies are adopting the methodology of the Google Objectives and Key Results (OKR’s) for setting goals. Start out by setting high level objectives, which would ideally line up with your Vision Statement. While objectives can be high level, they shouldn’t be too vague, such as “To supply the best product ever”. Examples of this might include: “Open a new office in Manchester”, or “Add two more salespeople to the sales team”
5) Your Key Results
Company Key Results are the other part of your OKR. These are a statement of the tactics you use in your company in order to meet your objective. Therefore, it is vital that these are measureable, or quantifiable, so that you know when you have achieved your objective. No need to write down a lot of these – 3 or 4 will suffice. They should of course tie in with goals that you have set. Linking with those given above, examples might include: “research commercial landlords in Manchester” and “Engage an employment agency”.
Everyone employed by you and potentially employed by you should be aware of your OKR’s. Everyone will therefore understand what each other is working on. In addition, doing this also helps you to draw together and line up your Goals, Core Values and Vision Statement.
Need Help?
Claire Buck has jointly grown a successful business with a turnover in excess of £20 million. It was by no means easy and there were times along the way when self-doubt crept in. Those who are most successful in business seek out the opportunity to develop themselves and learn from others. Claire seeks to use her own success to support and inspire entrepreneurs like you and help you get the most from your business.
Claire won’t tell you how to run your business. She will give you the tools to find solutions and make the decisions that enable you to achieve your objectives. You will develop the confidence, communication skills and self-awareness that will be the building blocks for your success.
IS BUSINESS COACHING RIGHT FOR YOU
- Struggling to define the mission and vision of your business?
- Currently making the transition from employed to self-employed?
- Want to be a better leader
- Maybe you have a business goal that seems out of reach?
- Seems like you’re struggling to make important business decisions?
- Could your time management use some work?
- Need help drawing out strengths and maybe creating new ideas?
- Unhappy with your work-life balance?
- Trouble coping with the stress of running your own business?
- In need of a plan for how your business should look, feel and grow?
- Seems like your spending a lot of time planning but don’t seem to be able to put the plan in to action?
- Maybe you want to develop new strategies and ways of thinking?
- Would your business benefit from a fresh approach?
- Seems like your struggling with managing conflict, delegating tasks or developing your team?
- Do you have a business idea but aren’t sure how to turn it into a reality?
- Finding yourself procrastinating or making excuses not to implement change?
If the answer is yes to any of the above then business coaching could be the answer.
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