Purpose, Vision, Mission - What they are and why they are important

Having a clear purpose, an ambitious vision and a mission everyone in your team can recite on demand is a key foundation to the success of any business.

However not all businesses have them, and in fact many do not know the difference between them and why they are all important.

Another common situation I encounter is that if you do have them they are out dated and confined to a business plan or investment deck and they are not the guiding principles they should be in fact no one knows what they are.

So here is my spin on things - I have also added a key question to ask yourself and your team to help you consider creating or refresh yours.

🔥 Purpose: Your North Star 🔥

Imagine this: Your Purpose is the unwavering North Star. It's your business's soul, the "why" that fuels your hustle. Purpose is all about the big, audacious impact you want to leave on the world.

Uncover your Purpose, and you'll wield a magnetic force that attracts kindred spirits, loyal customers, and savvy investors.

It is not enough to just be B-Corp and claim that as your purpose, although I think being B-Corp is a prerequisite, these days. It has to be deeper than that. Here is the legendary David Hiett talking about the purpose of Hiut denim.

Ask yourself and then your team: "Why did you decide to start this venture / join this business in the first place? What impact or change in the world did you hope to achieve?”

💡 Vision: Your View of the Future💡

Your Vision statement paints a vivid, larger-than-life picture of your journey and what you think the future will feel like after the impact you have made. It's the "what" and "how" of your startup's adventure.

Your Vision signals to the world that you're on an extraordinary journey, creating a substantial impact. Whether it's "a world powered by clean energy" or "revolutionising healthcare," your Vision is the blueprint for your journey.

Ask yourself and then your team: "If you could fast forward ten years into the future, what does your ideal world or industry look like as a result of your company's success?”

🚀 Mission: Your Daily Battle Cry 🚀

This is your startup's daily grind – the sweat and tears that inch you closer to your Vision.

Your Mission statement is punchy, action-packed, and unapologetic. It's all about what you do, who you serve, and how you do it.

Ask yourself and then your team:

"What specific actions or initiatives can you take right now to move closer to your Vision? Who do you want to serve, and how will you serve them uniquely?”

In summary:

• Purpose = Why you're in the game
• Vision = Where you're taking the business
• Mission = Your daily battle cry

Common Challenge

A lot of businesses get stuck on the difference between the vision and the mission and in fairness they can seem and sound very different. For me the most effective way to look at this: Mission is present and Vision is future.

Some examples to help you from brands I respect.

Pukka Herbs:

• Vision: "To inspire people to lead a more conscious life through connecting people, plants, and the planet."
• Mission: "To connect people, plants, and the planet through organic, ethically sourced herbal teas and supplements."

Gnaw Chocolate:

• Vision: "To create the best chocolate experience in the world, with innovative flavors and ethical sourcing."
• Mission: "To create quirky, handcrafted chocolate using natural ingredients that bring joy to people's lives."

Rude Health:

• Vision: "To make breakfasts better by creating delicious, wholesome, and naturally nourishing foods."
• Mission: "To make food that respects and celebrates the good ingredients we have, rather than the ones we don't."