Almost every source of business advice recommends that new business owners establish a mission and vision as part of a written business plan. No doubt that mission and vision are important. However, they may not be as important as some experts make them out to be. The reality is that companies cannot survive on mission and vision alone.
It takes a lot to succeed in the world of business. It takes good ideas, the ability to innovate, a competitive spirit, and lots of hard work. Business success also requires tangible resources like financing in a workforce. Mission and vision play only a small role in a much bigger production.
More About Mission and Vision
In the world of business plan writing, mission and vision are both similar and distinct. A company’s mission explains its purpose for existing. The mission defines why the company exists, what it intends to achieve, and so forth. Vision expands on mission by expressing where company ownership hopes to be at some point down the road.
If you were to pop on over to the Plurawl website, you would see that the company sells a lifestyle brand that emphasizes the LatinX community and ideals. Plurawl’s mission is to promote LatinX culture in order to fulfill the vision of empowering their customers to live authentic lives without compromise.
The thing about mission and vision is that they give companies purpose. That is, they offer purpose above and beyond making money. But therein lies the rub. The company has to survive if its mission and vision are to be realized. In order to survive, the company has to make money.
Providing Goods and Services
While mission and vision are a part of business success, the most important factor to any company is the goods or services it provides. Said goods or services are what customers want. It is the reason they do business with that particular company.
If you need fuel for your car, you go to a gas station. You might be more inclined to visit gas stations whose missions and visions line up with their own view of the world but, when push comes to shove, you will get gas wherever you can find it. You are not going to let your car run out of gas because the only fueling station you can find doesn’t share your view of the world.
Succeeding in business starts with providing a product or service that customers want. From there, you find a way to market that product or service and support it by taking care of your customers. You also consider pricing, delivery, and other customer-centric concerns. Those concerns will ultimately determine whether your business succeeds or fails.
How Mission and Vision Tie In
No company will succeed on mission and vision alone. But the two principals still tie in to business success. First, consider a company’s mission. It might be to sell LatinX-themed T-shirts, hoodies, and other products to a specific segment of the population. In order to fulfill that mission, the company has to offer quality products and excellent customer service. As such, the mission can easily drive business decisions.
Vision ties in to the extent that no one starts a company hoping to fail after two years. Having a vision for the future encourages a company to continue delivering on its mission by way of its core products or services.
A company’s mission and vision are important. But its products and services, combined with the quality of its customer service, largely determine long-term success. It is the way business works.