Mission, Values, Brand – Simplified
Bastardization of Terms. Mission, values, and brand are often conflated and, hence, confused. The important things are the objectives of each and the purposes they serve. So long as the objectives and purposes are clear, we can all tolerate terminology variations. I will simply outline the way I think of these concepts. Your job is to ensure you are meeting the objectives and purposes of these concepts with your business.
Define Your Mission. A mission statement describes what a company does and its immediate objectives. It serves as a roadmap for the company's day-to-day operations and decision-making processes. The purpose of a mission is to guide the company's actions and ensure alignment with its broader vision and purpose. It is internally focused, often inspiring and motivating employees by providing a clear understanding of the company's goals. Definition of your mission is usually handled only by the leader or the senior leadership team.
Example: Starbucks’ mission is “to inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time.” Think about that…it drives all they do.
Identify Your Values. Values are the core principles or beliefs that guide a company's behavior and decision-making. They reflect what the company stands for and influence its culture. The purpose of values is to help shape the company's identity and ensure consistency in how it operates. They serve as a moral compass for employees, influencing how they interact with each other and with customers.
Example: A company might value integrity, innovation, customer satisfaction, and environmental responsibility. I often include a broader set of team participants in defining values, in an effort to procure “buy-in” early on.
Brand. A brand encompasses the overall perception of a company by its customers, including its reputation, image, and emotional connection with consumers. The brand is externally focused, aiming to create a consistent customer experience and build loyalty. It is shaped by how the company presents itself through marketing, customer interactions, and product offerings.
Components: A brand includes elements like the logo, tagline, customer service approach, and overall market positioning.
Generally, in the absence of an established, proven branding expert on the internal team, I advise going outside for assistance with branding.
Changeability. Nothing in this existence is completely static. Generally, though, values are the most permanent of the three elements we’ve discussed. I used to tell employees of one of my companies, “We might decide tomorrow that fintech is not what we want to do anymore; we might want to build motorcycles. Our values, though, will remain the same.” I was only half-joking.
If your mission changes, though, your branding will likely need to change to serve the new mission. And sometimes the branding around your unchanged mission needs to be improved. With branding, though, it must permeate everything, be cherished and handled with kid gloves, and changed with utmost caution.
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