OKR – Create a Mission Statement For Your Company!

If you run a small company or startup, you cannot afford to ignore a company mission statement. A strong mission statement provides direction, defines your purpose, and keeps your team aligned. Without it, your company might operate without focus, leading to burnout and inefficiency.

In this post, let us learn how to create a mission statement to attract customers.

Key Takeaways

• A mission statement defines your company’s purpose and direction in the competitive market.
• Use a clear formula: What you do + Whom you serve + How you do it + Why you do it.
• Align your mission statement with OKRs for better execution and measurable success.
• Avoid vague, generic, or overly broad statements.
• While creating a mission statement, remember that it has to align well with your team and help guide decisions.

Why a Mission Statement Matters

A mission statement answers fundamental questions about your business, including:

• Why does the company exist?
• What problem do we solve?
• What products or services do we offer?
• Who is our target audience?
• How does it align with our OKR (Objectives and Key Results)?

With OKR implementation, you can ensure that your mission statement translates into actionable goals and measurable results.

The Formula for Creating a Strong Mission Statement

To create a mission statement, you can use some of the best OKR tools and use this simple formula:

What you do + Whom you serve + How you do it + Your reason for doing it

Examples of Great Mission Statements

Let’s take inspiration from successful companies:

Ford: “To make people live better by making mobility accessible and affordable.”

• Improve people’s lives
• Provide accessible and affordable mobility

Google: “To organize the world’s information and make it universally accessible and useful.”

• Organize information
• Make information accessible and useful

Disney: “To entertain, inform, and inspire people around the globe through the power of unparalleled storytelling, reflecting the iconic brands, creative minds, and innovative technologies that make ours the world’s premier entertainment company.”

• Entertain, inform, and inspire
• Use unparalleled storytelling
• Leverage iconic brands and innovative technologies

Like a mission statement, you can also create a vision statement that resonates with your OKRs and company goals in a better way.

Common Mistakes in Creating a Mission Statements

Here are examples of poorly written mission statements and what’s wrong with them:

“To create a shopping experience that our customers are pleased with; to create a workplace that provides opportunities and a great working environment for our associates, and a business that achieves financial success.”

Issue: The statement is too vague and doesn’t specify what the company does. It’s for a grocery chain but fails to mention that.

“To ensure every brand becomes more inspiring, and the world more intelligent.”

Issue: This statement lacks clarity. What industry does the company belong to? What does it do?

“Our mission and goal are to operate the best specialty retail business in America, regardless of the product we sell.”

Issue: The company is a bookstore chain, yet the mission statement makes it seem like they don’t care what they sell. 

To avoid such issues and haphazard statements, you can implement the best OKR software to set goals and align your mission statement carefully with the objectives and key results.

How to Create a Mission Statement for Your Startup

Follow these steps to create a mission statement:

1. Identify your core purpose – Why does your company exist?
2. Define your audience – Who do you serve?
3. Clarify your offerings – What products or services do you provide?
4. Align your mission with OKRs – Set objectives and measurable key results that support your mission. You can do this by using Target Align – one of the best OKR software in the market. 
5. Make it specific and memorable – Avoid vague statements.
6. Keep it short and clear – A great mission statement is easy to remember.

Create a mission statement today and give your startup the direction it needs to succeed!

To manage your corporate-wide OKRs better, click the “sign up” button at the top right of this page to get a free trial of our Target Align OKR cloud app.

FAQs

How long should a mission statement be?

A mission statement should be short and clear, ideally one to two sentences.

Can a mission statement change over time?

Yes. As your business grows, you may refine your mission statement to reflect new goals.

What’s the difference between a mission statement and a vision statement?

A mission statement explains why your company exists today. A vision statement describes where you want to be in the future.

How do OKRs help in creating a mission statement?

OKRs help by ensuring that your mission statement isn’t just a statement of intent but a foundation for setting clear, measurable goals that align with your company’s purpose.