In today’s business landscape, profit is not always the be-all, end-all sign of success. Many businesses serve a higher purpose than padding their pockets. These mission-driven ventures can be exceedingly powerful in the market, inspiring others to serve and having a larger impact on society as a whole.
Mission-driven companies can stoke the fires of engagement from both employees and target clients, increase industry innovation, and enhance their reputation on the local or world stage. However, one cannot simply set out to form a mission-driven company without a well-formulated plan and thoughtful consideration of the “why” behind it.
Here, I will explore actionable insights and essential steps for creating an organization that is rooted in acts of service and, ultimately, mission-driven.
Identify your purpose
It can be difficult to be mission-driven without a clearly defined purpose. Founders should reflect on their core values and how they relate to the business they wish to create. The benefits of having a mission-driven company should be detailed and explained to all stakeholders to ensure “buy-in” from key players.
One’s purpose should dive into what change you would like to make in the world. This goal can be as wide-reaching or niche as you wish — as long as it is identified.
Craft a mission statement
Mission statements do just as the name suggests — they state your mission. Once you have identified your company’s core purpose and values, you can craft a compelling mission statement that clearly outlines the company’s purpose, discusses the impact of that mission on the stakeholders, highlights what makes the company unique among the competition, and shows a commitment to the values espoused.
Mission statements help companies make strategic decisions that align with their stated values and shape their evolving identity.
Marrying business model and mission
Once your mission is clearly defined and stated, you must decide which strategies will help you achieve mission-driven objectives. Each plan must include a long-term vision for the company. This strategic planning and long-term view can help when developing plans for how you wish to serve customers, what products you wish to provide, or how big you want to be in terms of scale.
The customer/client experience must be part of your business model strategy. How are customers using your product or taking advantage of your service? What are you hoping they achieve through your company?
Fostering success within a mission-driven company involves many aspects because the mission must be embedded within every operation, from bookkeeping to sourcing materials to marketing. This means the company should also hire employees who share the same values and mission-driven ethos. For example, companies committed to sustainability or lessening the impact of climate change should seek to hire employees passionate about environmental issues and green energy.
Brand messaging must align with the mission statement, the company’s goals, and the community the company hopes to support. It should also be ingrained in the company culture and communications, both internal and external.
Like any business plan, every aspect should be regularly reviewed to ensure that the mission remains in focus and does not need adjustments.
Measuring impact
Once your mission statement and values-driven business plan are in place, they must be measured. Identify some key metrics, or KPIs, to help you track their progress, which can be industry-specific or more general.
For example, imagine that a company seeks to improve access to reading education for a specific population. Once it has clearly defined the program’s beneficiaries, it can collect data, set targets based on that data, analyze it, and report its findings.
By comparing its metrics to broader metrics or to its own goals, the company can determine whether it is meeting performance expectations and achieving the impact it hoped for.
Sustainable growth
Like any business plan, a mission-driven one must be prepared for sustainable growth within its industry. You can have a laudable goal of helping others or making a social impact, but without a plan to scale, your mission may never take off.
When companies focus on creating value that extends beyond profit, they may be laying the groundwork for a more enduring, stable organization. However, they can’t rely on their mission alone to get there. They need a robust plan and the support of like-minded team members to make it happen.
Creating and nurturing a mission-driven company can be a labor of love. From defining one’s values through a mission statement to fostering mission-driven goal achievement with one’s staff, passion runs throughout the running of every mission-driven organization.
By staying true to your original mission as the company founder, you can help distinguish your company from others within your industry and create a legacy that will carry you through many years of success.
