Take a look at any of the most successful businesses in the corporate world today—including Joseph Calata’s Calata Corporation— and you’ll probably notice a few trends among them. One of these trends is that the most successful businesses tend to have well established and detailed mission statements that carefully outline the goals and values of the organization as a whole.
If your business doesn’t have its mission or value statement, now is a good time to begin collaborating with your employees to develop one. After all, there are some ways in which a company’s mission statement can increase your chances of success—regardless of the industry in which you operate.
Perhaps the main purpose of a mission statement is to provide direction for the organization as a whole, which is something that every business undeniably needs. Specifically, the mission provides an outline of what the purpose of your business is, what you and your team strive to accomplish, and what your ultimate direction is. In turn, your company’s mission statement can assist in defining the vision of your business, providing needed focus both in the short- and long-term.
When you have a mission statement in place for your business, you’ll likely find that it’s a lot easier for you and other higher-ups to make decisions with the best interests of the company in mind. That’s because, whenever you reach a point where you need to make a decision, you can collaborate with the rest of your team and decide which choice is in closest alignment with your mission statement. This helps to make decisions more objective and, in the long run, ensures that decisions are made with the best interests of the company (and not special interests) in mind.
Last but not least, when you have a company mission and teach it to every new employee, you can enjoy the peace of mind in knowing that all the members of your team are on the same page in terms of their understanding of the company’s goals and vision for the future. A strong mission statement alone can help bring in the right applicants for open positions while making those who don’t necessarily agree with your company’s vision less likely to apply. This, in turn, saves you a great deal of time, hassle, and resources during each hiring process.
These are just a few of the main reasons as to why having a company mission should be a priority for any business owner. By getting all your employees on the same page, making sound business decisions, and focusing your company’s direction, you’ll have better chances of success in any industry, much as Joseph Calata has with his corporation’s thorough mission and vision statement.