Does your Small Business Need a Mission Statement?

I’ve seen hundreds of successful Indiana businesses that have made loads of money without so much as a rough draft of a mission statement.

Don’t get me wrong.  I’m not against mission statements.  They have their place – especially for larger organizations where communicating with multiple levels of staff, or multiple locations, can be a challenge.

But most small businesses don’t need a formal mission statement.  Is this business school blaspheme?  I don’t think so – here’s why:

While very few of the successful small businesses have formal mission statements, my experience is that nearly all of them have absolute clarity of purpose.  That’s what keeps them focused on the things that really pay; and keeps them from scattering efforts too thinly.  It’s all about understanding what activities count most.  Writing that purpose down is a good idea, but it’s not critical.

As small business owners, obviously we can’t be all things to all people.  I’ve learned that defining and refining the purpose of a small business down to a laser-focused mission makes all the difference…whether it’s in writing, or not.