Developing Your Own Personal Mission Statement

So many of today’s top performing corporations have a well thought out mission statement. The effect of this mission statement on the corporation and its employees is enormous. Consider the alternative? Imagine expecting your employees to do a good job when they are unsure of what their job is. That is the purpose of a good mission statement. It helps get everybody on the same page and keeps them there! 

Take time and think out what you really wish to accomplish. Think and breathe it. Go to a place within you and dare to dream. Feel with emotion and think with logic on what you really hope to accomplish in this life. Then dare to write out that dream on paper.

Does your mission statement seem logical and realistic? Do your words resonate with real possibilities?  Revisit your written goals with an abundance of honesty, confidence, and sincerity. Decide what price you are really ready to pay to achieve these goals. Only then should you draft your final personal mission statement. Make sure it is one you wish to live with since you will be relying on it over the coming years. Love your mission statement and believe in it and it will work!

A great mission statement is well thought out and well written. Consider corporations which have relied on mission statements for years. A good mission statement will list corporate values and objectives in a simple and forthright manner. It will convey to the employees and management alike the true goals of the corporation.

A mission statement also serves as a great reminder. If you or your company is getting away from the mission statement you will soon experience stress and conflict within your organization. The further away you travel from the mission statement the more problems will surface. This is because you or your organization is creating conflict by giving or allowing conflicting priorities and objectives.

If you have a hard time keeping to your mission statement, then you need to seriously consider changing your mission statement to suit your needs and the situation. This does not mean you change your statement each month, but you do change your mission statement only after giving it careful and prudent consideration. If your situation has changed to the point where your current mission statement will no longer allow for growth or satisfaction then perhaps it needs changing.

Giving thought to your personal mission statement. Your true values must be addressed. Stating that you wish to make a lot of money is not enough! You need to weave in your personal values and that of your family and societies if applicable. Include your financial life in your statement which will help you achieve your financial goals.

For instance, compare the following two mission statements for a heating and cooling contractor.

Mission Statement A: To accumulate a lot of money so I don’t have to work any more.

Or let’s take a more personal statement that weaves in his deepest values.

Mission Statement B: To provide for my family to the degree where we all enjoy security and financial freedom both today and in the years to come. In creating wealth I will strive to provide my customers with the best and most professional service. I will offer consistency of service and execution of same. I will price my services at the higher end as quality is always remembered long after price is forgotten. I will be professional in my dealings with customers and competitors alike. I will never succumb to lying or half-truths. I will always do more than I am paid to do and let the customer know exactly all the duties and services I performed. Each job site will be left cleaner than how I found it and the safety of myself and other workers will always be a priority.

In order to prevent misunderstandings with my customers I will always quote a job or project realistically and ask for half of the funds up front and the other half upon completion. This will help alleviate any misunderstandings. Further more, I will set aside 10% of each job completed for my personal retirement.  I will strive to be seen as the competent, honest, and quality contractor that I am.

In order to insure my financial freedom, I will set aside at least $1,000 per month as follows; $500 will be invested into my Davis New York Venture mutual fund and $500 will be allocated between my Roth IRA and profit sharing plan. In 20 years assuming a 12% rate of return, I will have accumulated one million dollars.  I also will have my home paid off within 20 years since I have a 20 year mortgage.

Now which mission statement do you think will motivate this contractor more?

Each and every one of us should create a personal mission statement. As stated, make sure it addresses three important issues

• Does it agree with your deepest held personal values?
• Does it follow your heart?
• Does it make sense financially?

Decide now what your mission statement will be. Do it now! Keep to it and success will be forthcoming. Why? Because creating a personal mission statement will allow you to be in tune with yourself.

One of the biggest reasons people fail is that they inadvertently carry and nourish doubt within themselves. This doubt is caused by two major factors: not staying true to what we really believe in and not having a written plan for ourselves.

Everyone should list their goals and objectives, along with the steps needed to accomplish them. This will help in slaying the many doubts that spring up so often in the course of each day.  Those doubts not only undermine our confidence but also cause us to lose focus.

In my next post, I will explain how to incorporate your mission statement into your own personal financial plan.