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The Importance of Mission Statements; All Businesses Need Them

Marketplace’s Kai Ryssdal often asks CEOs to say what their company does in six words or less and, shockingly, most of them stumble in response.

According to famous author and venture capitalist, Guy Kawasaki and L2 Inc.’s Scott Galloway (see Monday’s blog), all businesses need a very concise mission statement.

Concise mission statements are necessary so customers, referral sources, investors and employees know exactly what the business does.

Scott Galloway says Apple Inc. is hugely undervalued b/c it lacks a clear mission, in contrast to Google, Amazon and Facebook.

Kawasaki says a mission must be short, and say exactly what a business does and why a business is better than competitors, without fluff words like synergy, excellence, paradigms, etc.

Honing JVM’s mission was one of the best outcomes of our recent website update. It forced us to define exactly what we do, and it put us all on the same page.

JVM’s Mission: We facilitate uncommonly smooth mortgage transactions (six words).

That is what we do, and all we do – every day and all day long. Nobody does it better, as we say on our website. And, we’re constantly improving.

I hope Kai Ryssdal interviews me soon :).

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646