Business Advice: Setting a business mission and vision are vitally important!

Article by Jane Tweedy, Business Advisor, Western Sydney Business Centre

Being a business owner you’ve probably heard of mission and vision statements – especially if you watched the now 21 year old movie Jerry Maguire – wow how time flies! But have you established statements for your business and how does it guide your success?

 

Mission statement

A mission statement is typically a paragraph or two communicating to the public why you’re in business. The one in Jerry Maguire was much longer as it was his thinking/ramblings behind the mission, and his vision for the future. The reason I’ve used the words ‘public why’ is because you may also have a personal motivation that doesn’t need to be shared, but is just important for you to understand.

 

The mission explains your why. If you’re interested please check out Simon Sinek’s TED talk ‘Start with why’ which uses Apple as an example of how consumers buy the why, not the how or what which is what most businesses focus upon.

 

Your why can be a great fall back if things aren’t going well. It can remind you in the tough times why you are in business, and helps your clients align with your thinking.

 

Vision

Your vision is the direction for the business. Some people like Stephen Covey talked in terms of keeping the end in mine, and the vision statement really communicates that. The end game or vision are important to help us make conscious decisions about our business. When presented with new opportunities we need to know whether they will take us on our ultimate journey, or merely lead us down a dead end garden path.

 

The vision can be altered if your circumstances change, but it does help you assess opportunities in a conscious manner, and decide whether the decisions are right for you and your business.

 

Values

To round out the vision of the business are your values – what your business aspires to uphold. Again values help you connect with your clients and potential clients, as we like to align with businesses that serve the same values and purpose as ourselves.

 

Need help?

Need help in identifying your mission, vision and values? Please make an appointment to see one of our business advisors for up to four hours of business advice at no cost with no catches! Book now!

Related posts

Embracing The Power Of Training

Reading Time: 1:41 min

Now that the festive season’s is done, and the dust of New Year’s resolutions has begun to clear, it’s time to refocus our energies. As we ease back into the…

View post

Kick-off 2024 with Time Management Strategies for Small Business Owners

Reading Time: 2:37 min

It’s easy to feel overwhelmed if you’re running your small business alone. But with the right time management strategies, you can take control of your schedule and focus on your…

View post

Sustainability and consumer behaviour in 2024

Reading Time: 1:30 min

In the world of business, understanding and adapting to consumer behaviour is a crucial step for small business owners to stay competitive and relevant. As we move into 2024, several…

View post

Lessons learnt in 2023

Reading Time: 1:49 min

As we bid farewell to 2023, let’s reflect on the highs and lows of the local marketplace, and focus some valuable lessons help further improve business relicense as move into…

View post

Seasonal Marketing Ideas: 5 Tips to Boost Year-End Sales without Overspending

Reading Time: 2:11 min

As the year winds down, small business owners often find themselves in a common dilemma. The festive season is a golden opportunity for sales, but the challenge lies in capitalising…

View post

Using business award to build business reputation

Reading Time: 1:54 min

In the business world, where small business owners are fighting to be recognised and competing to be seen, how to stand out and make your potential customers aware of who…

View post

Our Channels

Correspondence: PO Box 4029, Penrith Westfield NSW 2750

Office Locations

We have Advisors available to meet you in our head office in Western Sydney and we also offer a mobile service to your place of business. Online sessions are also available.

Head Office
Suite 1, Level 1, 111 Henry Street,
Penrith NSW 2750

Area’s Serviced: Penrith, Hawkesbury, Blue Mountains, Blacktown, Hills, Fairfield, Liverpool, Campbelltown, Wollondilly, Camden, Cumberland and everywhere in between.