When
I studied the reasons behind some failed brands, I observed that many of them
altered the value of their Mission and Vision statement. Though on paper, the
statements remained the same, but in practice, the corporations were doing
something else.
I think
this is one of the pitfalls of having a successful brand; corporations are
tempted to extend it to other products and services. However, I notice that
when such ventures fail, the businesses go back to what the company was
originally established to do.
For
small businesses, the temptation to drift away from the original vision is also
there. There is need for entrepreneurs to revisit those statements and ensure
that they can innovate, diversify, and extend their products and services while
still maintaining the value promised by those statements.
When
you develop a compelling vision about your business, it tells you and the
society where the business is headed to. It prepares you for the future such
that even when things go rough, you feel challenged to press on. That is why your
vision statement should be part of you. You don’t just speak about the vision,
you live the vision.
You
must communicate the vision as you get more people into your business, and
continue to nurture and support that vision every day, in every way.
Don’t
forget, your Vision is different from your Mission. Your Mission Statement
describes what business you are doing, and who your customers are. It gives
your business a focus and a direction because it tells the very essence of your
business, and how you will move from where you are to your desired destination.
One important element about the mission statement is that if properly drafted,
it will be broad enough to allow for expansion, and quite narrow to keep you
focused. The mission statement should,
1.
describe what products you
are offering;
2.
list the functions your
business performs;
3.
identify your customer;
4.
locate your business within
the market;
5.
also state the reason why
customers would prefer to buy products and services from you.
There
is need as a business owner to revisit your vision and mission statement and
ensure you are still on course.
