Lessons From A Failed Founder #2: Yes, You Do Need A Vision & Mission
Here’s one for those who believe in the “ship now, worry later” methodology — You’re setting yourself up for failure. Here’s why.
I remember our prejudices about Vision and Mission (V&M) statements all too well. We considered V&M manifests hopelessly outdated and pointless, written by those who still swear by SWAT analyses and Net Promoter Scores. They were the staple of overpaid coaches and their off-site workshops in the countryside. Such old-fashioned notions!
How young, arrogant and reckless we were. With zero entrepreneurial experience to show for, we somehow got it in our thick heads that we could do without the framework that helped Google and Amazon to become the multi-billion corporations that they are today. Why, we simply “didn’t have the time” to go through these exercises — we need to ship!
Your Vision is like your North Star. We’ll always stay on the right course as long as we focus on our North Star.
Here’s the thing: A strong vision will act as your company’s compass for many, many years to come. Consider it your North Star. It’s so far away, yet it’s constantly there. We’ll never really get there, but that’s not the point: We’ll always stay on the right course as long as we focus on our North Star. As long as we focus on our vision.
So what about the mission? A mission forms the foundation for all your strategic decisions. Whereas the vision describes a perfect situation without even mention you, the mission sets out what your company will bring to the table to support said vision. Don’t worry if this confuses you, I’ll follow up with some examples at the end!
Before we dive into the examples, I want to tell you about the moment we realised we needed a V&M. Employee engagement was at an all-time low, nobody knew what the company stood for (again, pretty branding alone doesn’t do the trick!) or why they should get up every morning to work for us. In short: A lack of vision results in low performance.
It’s nearly impossible to get anything meaningful done without a Vision & Mission.
We also learnt that we didn’t have much of a story to convince prospects, investors and future employees that our company was amazing. It’s hard to create a stellar marketing campaign if your company lacks vision. It’s hard to plan a product roadmap without a mission. In short, it’s hard to get anything done without a Vision & Mission.
You can find many great and even more not-so-great examples of Visions and Missions on the Internet, so here are three fictive examples to get your creative juices flowing. Remember: The Vision is the Valhalla both you and your competitors strive for — The Mission focuses solely on what your company will bring to the table.
- A WORLD WITHOUT STARVATION
- HappyGrains Inc. empowers every human on earth to grow crops inside their homes, with no agricultural experience needed.
- Our mini grow-houses will be available in every store and on every corner, eliminating the threshold for those living in remote areas.
- Homegrown crops will have a net zero footprint thanks to recycled materials and by educating farmers on how to make their own compost. - TEACHING CHILDREN HISTORY THROUGH VIDEOGAMES
- OKU Games Ltd. creates fun, educative videogames combining combat and strategy with historically accurate depictions of famous battle scenes.
- Starting as a soldier, children learn the essence of timing, planning and execution while they enjoy the stories behind the world’s great empires.
- Our games are free of gore and blood, and our chat rooms are strictly moderated; providing children with a safe and fun environment. - IF IT HAS WHEELS, YOU GET TO ROLL WITH IT
- WunderWheelz GmbH opens the e-mobility for people of all ages, from a toddler on a three-wheeler to an elderly person in need of a wheelchair.
- Our native Apps focus on usability first, fleet-management second; allowing for people to quickly find and book their vehicle of choice.
- All of our vehicles get checked and serviced on a weekly basis, guaranteeing optimal performance and ease of use for every single user.
Your Vision and Mission helps you to clearly communicate what you’re trying to achieve.
So there you have it! While it may take you and your team an entire day to come up with a clear Vision and Mission, it will help you, your investors and your future colleagues to clearly communicate and understand what you’re trying to achieve. Your V&M are the very foundation for your go-to-market strategy and your OKRs. To conclude:
You don’t have a company unless you have a Vision and a Mission.
Lessons From A Failed Founder is a series of blog posts by a thirty-something entrepreneur who made all the mistakes in the big startup playbook, and then some. My posts are no pearls of wisdom: Consider them the cautionary tales of a young founder who wants you to avoid making the same mistakes.
Feel free to reach out to me at failedfounder{AT}gmail.com
