5 Ways a Mission Statement Makes Money for Your Business
A mission statement is not a pile of extra words you put on your website to make it feel more complete.
It’s not a bunch of feel-good fluff to make customers feel like you stand for something.
No, a mission statement is a tool for focusing your company, focusing your team, and affirming the true value of your services. And you know what you get when you do all those things?
Money. Way more money than you can ever hope for if you don’t do those things.
If you tend to think of a mission statement as the most pointless element of a business plan, allow me to shed light on what this powerful tool can actually do for your business.
Here are five ways your mission statement can help you drive up your revenue.
1. Your Mission Statement Focuses Your Marketing Message
I say this all the time, but in case you’re new to the Get Out of the Truck blog, I’ll say it again:
Nobody cares how good your equipment is. They might care a little about your years of experience, exceptional skills, or industry accolades. But what buyers really want to know is how you’re going to make their lives better.
That’s the heart of effective marketing. It’s not: “Here’s what’s great about our company.” It’s: “We really understand what you’re up against and we know exactly how to fix it.”
So what does this have to do with marketing?
Well, your mission statement is an expression of your company’s purpose. In other words, how are you going to make a difference in your industry and your community through the work you do?
Is it your mission to set a higher bar for technological innovation in the home services industry so homeowners can expect a faster recovery or more options for preventing damage?
Do you and your team strive to preserve the homes your clients have worked so hard to create for themselves?
Think about the way you want to serve your customers on a deeper level. How do you ease their stress, fear, or insecurity? How are you making your industry and your world better?
That’s your mission. And that mission should drive all your marketing.
2. Your Mission Statement Inspires a Deeper Commitment From Your Team
If you tell your team that your sole objective is to make money, work quickly, or just “succeed,” you know what you’ll get?
You’ll get a team of people who have nothing to motivate them except the paycheck. They’re going to do a good enough job to get paid. But they probably won’t be proactive.
They won’t see themselves as part of a greater mission.
Your mission statement helps your team see that their work matters… that it plays a bigger role than making you richer.
Plus, when they know what the mission is, they know how to focus their efforts. Your sales team knows what they’re really selling. Your techs know what kind of experience you want your customers to have.
Everyone stands united around a common purpose. On that note:
3. Your Mission Statement Keeps the Vision on Track
Having a mission statement also helps you stay focused. And you need that more than anybody.
When you recognize that your purpose as a water restoration business owner is to bring peace of mind and a sense of community to the people you serve, you’re less likely to get distracted by other business opportunities.
You’re also more likely to pursue clients, partners, and opportunities that align with your vision. A clear mission statement removes the temptation to constantly rebrand or change value propositions in an attempt to keep up with the competition.
In short: your mission statement helps you stay focused on your strengths and purpose.
4. Your Mission Statement Inspires Customer Loyalty
Buyers want to work with businesses that do a good job. But what pushes a client over the line from customer to loyal customer? From loyal customer to brand advocate?
Think about it. Wouldn’t it make a difference to know that your dry cleaner is training to become a foster parent? Or that the Italian restaurant in your neighborhood was established out of a desire to share treasured recipes passed down for generations?
Knowing what drives a business owner might not be enough to make up for an inferior product or service. But it is enough to drive deeper loyalty when the business does a great job.
Whatever drives you, whatever your goal is, your buyers want to know.
5. You Cannot Put a Price on a Mission
This is a big one.
Your mission determines the value of your services.
If your website and marketing are all about the size of your team, your certifications, the speed of your service, and your equipment, guess what.
These are all things that can be measured in dollars and cents.
What does your equipment cost? How much do you pay your employees? What is the price of certifications?
Your clients probably have a guess. Whether it’s right or wrong doesn’t matter. They’re looking at the information you’re giving them, quietly calculating what these assets cost you and—as a result—how much they should cost your customer.
But what you communicate in your mission statement… that’s priceless. Which means you can name your price.
So take the time to hash out your vision, zero in on your purpose, and write a mission statement.
It’s so much more powerful than you know.
Further Resources on This Topic
Free Video Course: Creating a Business That Makes an Impact
Free Tool: Business Plan Wizard