You may find it
challenging to develop a mission statement that
encompasses everything you believe in and
everything you want to accomplish in your
financial practice and your life. When writing a
mission statement, many advisors become
overwhelmed because they think they have to write
an impressive thought-provoking document, or they
believe it will take days or weeks to create the
perfect document. Your mission statement is not a
marketing document. It is a document of clarity
and commitment. Below are
some powerful ideas and easy steps to help you
create or improve your mission statement.
What
is a mission statement and why create
one?
Your mission statement is an important fundamental
document that helps define your life and your
purpose. Just as steel rails keep a train on
course, your mission statement will help keep you
on track by reminding you of your key priorities.
This is a document of your beliefs about life,
your business, and your clients. You can also use
your mission statement as a guide to help you make
choices about how to allocate your time and
resources. In addition, your mission statement
should encompass your main goals and how you plan
to fulfill them.
Important
elements of a mission
statement. It is up
to you to decide what your mission statement
should include. There are no rules on what your
mission statement should contain or how long it
should be. For some people, a paragraph is
appropriate; for others it may take two or three
paragraphs. However, the one critical element is
for you to believe you can hold yourself to each
word/principal in your mission statement. As you
write your mission statement, create a list of
things that make you unique and incorporate them
in your statement. An
Example: Some of my clients have written
multi-page mission statements that include their
up-to-date biography along with a list of personal
commitments and their vision for their future.
Other clients have written a short paragraph on
their beliefs and goals and have detailed how they
plan to hold themselves accountable to their
mission statement.
List
your global vision and
beliefs:
Having a global vision in mind when you write your
mission statement will help keep things in
perspective when you get caught up in your
day-to-day business activities. Your mission
statement should include steps that support your
global vision. What is a "global vision"? Ask
yourself this question. "What is most important to
me in ______?" Fill in the blank with any or all
of the following: life, business, family,
etc.
These answers can be written in either a
list format or be incorporated in a paragraph. It
is not important to commit yourself to specific
facts, figures, or goals in your mission
statement. More importantly, your mission
statement is designed to communicate your
principal beliefs and ideals, not specific goals
or outcomes.
An
Example:
One advisor I coach has written his ideal eulogy
to be read at his funeral. His eulogy includes how
he was
a great spouse, friend, parent, and
professional and how he will be remembered as a
person of integrity, honor, passion, ethics,
industry, love, patience, and compassion.
It
must be stable, yet flexible:
Your mission statement should be stable, but it
should also incorporate flexibility. Because your
mission statement is about who you are and what
your beliefs are, the core elements should remain
relativity stable. However, as you evolve
throughout your life and career, you will find
your needs and goals changing. I recommend that my
financial professional clients review their
mission statement annually and revise it to
accommodate any new principals or beliefs.
Who
you want to become:
Your mission statement should state your "ideal"
life, not the day-to-day reality. This is a
statement about who you want to be-not necessarily
about who you are today. Do not feel guilty
about the possibility that your beliefs and ideals
do not match your everyday reality.
Remember-you are who you tell yourself you
are!
An
Example: What type of person do you need
to become to live the life of your dreams? What
characteristics do you need to improve on or
develop? Persistence, patience, dedication, and
discipline are just some examples of defining your
ideal characteristics.
Be
inspired:
Your mission statement should inspire and motivate
you. This is the most important criteria, so look
and see if your mission statement inspires you.
You should also be able to return to it often for
inspiration and guidance about how you want to
live your life and conduct your business. It must
also inspire you professionally to do your best
work and personally to be the best person you can
be. Remember-your mission statement will have no
real value to you unless it inspires and motivates
you! An
Example: Another one of my clients has
listed all his role models in his mission
statement. Michael Jordan for his commitment to
excellence; Tiger Woods for his passion to win;
his father for being "the best parent in the whole
world."
Your
mission statement can act as your guide only if
you commit to making it a part of your business
and life. Write it out and put it in a place where
you will see and read it daily!
