There are a lot of things to check off when starting a new business, and mission statements and core values can often fall toward the bottom of your list. However, these are important parts of your business: they tell the world what your purpose is. Knowing your business’ purpose is important for customers and clients, but it’s also essential for your employees. While mission statements and core values serve as the foundation for your business, they’re not the same thing.
Mission Statement
Your company’s mission statement isn’t something you can quickly throw together—it needs to be powerful, explain why your business stands out, and why someone should work with you. Mission statements let employees know their purpose in the company and makes sure everyone is working toward the same common goal. They also ensure that as your business grows, you stay true to your purpose.
Growth Point Partnership’s mission statement, for example, is: Our team is committed to partnering with business owners, executives, and entrepreneurs, to accelerate the creation of company value.
This mission statement clearly states what the purpose of our business is, and it also includes a powerful word: committed. This sends a message to the public and to potential clients about our dedication to the work we do.
Core Values
Your mission statement explains what you do and why, but your business’ core values dive a little deeper and explain your beliefs. They also serve as guiding principles for you and your team and can help when making big decisions. Core values can also define how you and your employees handle situations and how you interact with clients.
These values shouldn’t be too generic or broad, as values without true meaning don’t serve any purpose. They should be specific to both your industry and your individual business. Growth Point Partnership’s core values are:
- Profit growth is a good and valued goal.
- Teamwork is the only path to true success.
- Measured, accountable, smart growth is why we exist.
- Your success is our success.
Try to keep your core values to a list of 4-6 statements or ideas and keep them short. If you have a brick-and-mortar business, put your core values on display for your team and for clients to see, such as a sign on the wall. It’s also a good idea to include them on any brochures or handouts for the public.
Customers like doing business with people who are authentic and who genuinely want to help them, whether you sell a product or a service. A mission statement and core values can tell people what you do and why you care, but make sure that comes across in your actions too. When you’re ready to work on your business rather than in it, call Growth Point Partnership.