AS a business owner, having clear set down goals is key to business growth. These goals convey the purpose and direction of your business. Aside highlighting your goals, it is important to have a mission, vision and value statement. These statements serve as bearings in directing the affairs of a business and how it is ran day-to-day and even during periods of rapid change. An entrepreneur determined to excel should take time to curate these statements summarizing their business objectives. Together, they provide direction for an organization’s current and future business strategies.

Mission Statement

This contains few words summarizing the organization’s reason for being and its major objectives. It uses words to paint a picture of who the company is and what the company does. The mission statement communicates to workers and staffs the day-to-day objectives, operations and short to long term goals of the business organization. It also informs outsiders, partners and customers about the solutions and services the organization provides.

A mission statement doesn’t need to be so long and bulky, rather, it should be properly thought about and only important words should be used to form short, simple and direct sentences. A mission statement should answer questions like; what do we do today, who does our product and service serve, what are we trying to accomplish and what impact do we want to achieve.

For reference, Coca-Cola mission statement is; To refresh the world, To inspire moments of optimism and happiness, To create value and make a difference.

Vision Statement

The vision statement is a futuristic summary of what the organization aspires to be and do in the long term. It is not only inspirational and motivational but is also provides a mapped out direction on where the company is headed. A vision statement serves as a guide for an organization choosing its current and future actions.

For effectivity, a vision statement should be inspirational, motivating, futuristic, goal-driven, whilst maintaining a simple and clear writing style. The vision statement should answer questions like; where do we see ourselves as an organization in the future and what kind of society do we envision in the future.

For example, GIG Logistics have their vision statement as; To be Africa’s leading E-commerce logistics platform.

Value Statement

This includes few words or short phrases that describes the core values and ethics of an organization. It highlights how the organization will achieve its mission and vision. The value statement helps guide the people in the organization about the core principles and philosophical ideals of the establishment as well as informing external bodies about what is important to that company.

A value statement should be drafted in brief words or short phrases that hit the nail on the attitudes that would be imbibed in the organization. It should also be memorable, timeless and actionable.

For reference, MTN (the mobile network) subsists on the core brand values of Leadership, Integrity, Relationships, Innovation and a Can do attitude.