Every company should have a mission statement that describes its purpose and lets customers and the public know what the business is selling. “A meaningful mission statement can also distinguish a company from its competitors, suggest potential directions for future growth and provide team members with a common goal to work toward,” according to Chuck Cohn, CEO and founder of Varsity Tours, as well as contributor to Entrepreneur magazine.

Cohn has found a few techniques useful when developing a mission statement:

  1. Define your purpose. Ask yourself why your company exists, says Cohn. Identify whom your product or service is for, how you want to deliver it, and why it’s valuable.
  2. Be specific. Avoid jargon so people are more likely to commit the statement to memory. “When your mission is hard to remember, it’s difficult for team members to align their daily activities with the goals outlined,” explains Cohn. “Choose your words wisely and use terms that are easily understood and relevant to your business.”

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