It’s The Size Of Your Impact
The Cambridge Dictionary defines the term “impact” as the strong influence that a certain phenomenon has on a person or a situation.
And the importance of creating a HUGE impact is best recognized by businesses when they’re identifying global inefficiencies and launching apt solutions in the marketplace.
But how does an organization create a significant impact? By staying committed to a strong, purposeful mission. Nonetheless, there’s a catch: just as creating a legitimate mission statement could help your business create a substantial impact, failing to do so could seriously hinder your rep.
So how to play your cards right? Here’s a beginner’s guide to creating a strong mission statement and measuring impact.
How To Write THE Perfect Mission Statement
It’s not rocket science. Here’s our take on how to create a mission statement that deeply resonates with your customers.
1. Keep Your Mission Statement Simple
The main priority, here, is always to make it simpler for people to truly understand your mission. It’s best when your statement conveys a purposeful message without using puffy, complicated lingo.
For instance, leading travel-planning app Trip Advisor’s mission statement is “to help people around the world plan and have the perfect trip”.
How simple, and to-the-point is that?
2. Keep It As Relevant As Possible
Relevance is key, and you always need to keep the future in consideration while strategizing your business’s mission. After all, it’d create a wrong impression if you’re not pursuing what you had initially set out to accomplish.
For instance, the mission statement of the world’s biggest search engine Google is “to organize the world’s information and make it universally accessible and useful”. Every niche that Google has branched out to diversify ever since, deeply resonates with it – be it Google Maps, YouTube, Google Scholar, Google Play Movies, etc.
3. Write A Measurable Mission Statement
Every strong mission statement always aims towards a specific goal or at least strives to create a benchmark for measurement of its progress with time. That’s why companies are driven towards ambitious targets like “being the no.1”, or to “become the global leader”.
Amazon boasts of a well-written, relevant, and measurable mission statement, which goes like this: “to be Earth’s most customer-focused firm, where customers can find and discover anything they might want to purchase online, and empower businesses and content creators to skyrocket their success.”
What Is Impact? How To Measure Impact?
On an organizational level, impact refers to the change a company implements on the targeted community through its products and services. Measuring impact requires a well-structured framework, and here’s a 4-step process developed by NAEH:
1. Identifying the core population segment for the mission – You should have a clear idea of who’s inefficiencies is your company developing solutions for (if possible, gather real-time data about the entire population size)
2. Planning on how to have an impact on this said population segment – For instance, is your mission about making their day-to-day lives easier with your services? Or, say, are you attempting to offer a trouble-free traveling experience?
3. Finding out of the entire segment, how many customers have you helped yet – This being the most important step, gathering quantitative data is necessary to measure how big of an impact you’ve been successful at creating.
4. Rate your impact – Take the data you’ve gathered in the third step, and divide it by the total population size data you’ve accumulated in step 1. This is where you’re at, at present.
Summing It Up
A mission statement defines the key purpose every company has initiated to fulfill. And when your company’s mission statement fails to compel the target population segment, and stay relevant with time, the chances of creating a huge impact in the community become as good as none.
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