Your business goals and a mission are distinct concepts.
Often, when I ask my client to set goals for the next 12 months and they come back with a mission statement.
Today, let’s clarify the difference between the two.
A mission statement describes the broader impact or contribution the organization seeks to make in the world or within its industry.
Also, a mission statement defines the purpose, core values, and overall reason for the existence of an organization. It encapsulates the organization’s identity, its primary objectives, and the principles that guide its actions.
Here are some examples:
Our mission is to empower our customers through technology-driven products that simplify their lives, enhance their experiences, and enable them to reach their full potential.
To provide exceptional and personalized service to our clients, exceeding their expectations and improving their lives through our expertise and dedication.
A goal, on the other hand, is a specific, measurable, and time-bound objective that an organization aims to achieve within a defined timeframe.
Goals are typically set to support the organization’s mission and strategic direction.
They are specific milestones or targets that help progress towards the broader mission.
Here is an example: To achieve a 20% increase in market share within the next two years by expanding into new geographical markets and launching innovative product offerings.
These characteristics help to provide clarity, focus, and a clear timeline for achieving your business objectives. Here are some SMART goals for my business:
- Specific: Increase monthly sales revenue by 20% via my VIP Experience.
- Measurable: Achieve a customer satisfaction rating of 90% or higher in quarterly surveys.
- Achievable: Launch one new online course within the next six months.
- Relevant: Reduce operational costs by 10% by implementing more efficient processes by implementing Dubsado.
- Time-bound: Increase website traffic by 30% within the next three months through targeted digital marketing campaigns.
In summary, a mission statement outlines the overall purpose and values of an organization, while goals are specific targets that align with and contribute to the mission.
Goals are more tactical and time-bound, driving progress and outcomes in pursuit of the organization’s mission.
Now, let’s decide of your goal for the next 6 months, and I want them to be SMART (Specific, Measurable, Achievable, Relevant, and Time-Bound).
What about your business goals?
I’d love to know!