Most Fortune 100 and Fortune 500 companies have a mission statement and/or a vision statement. They scatter them through annual reports and even post on the walls of their elaborate lobbies, but what is the purpose of these statements? Should my small business have them? Will my business wander aimlessly without one?
For years business consultants, and visionary corporate leaders, through extensive thought leadership brought forward cerebral mission and vision statements – with great expectation that they would provide meaning and clarity. The reality was, unfortunately, that customers and employees likely couldn’t recite these sometimes-expensive words of wisdom much less envision how it fit into their life or job responsibilities. Recently, through the teaching of Gino Wickman and his EOS training, more and more businesses have found themselves replacing out dated and unused vision and mission statements with Core Value Statements and Core Focus Statements.
Core Values are those values companies are using everyday to recruit, hire, promote and evaluate their employees. Core Focus is the statement that helps assure a company is not off in a direction that does not fit their business. The interesting part is that a list of Core Values, and an understanding among all employees of the Core Focus does much more to align the clients a business serves with the employees it takes to deliver the product or service of the business – something those long mission statements couldn’t do!
Leadership teams use Core Value words and phrases in internal communications and in conversations with clients, which helps them understand and use similar words and phrases. Stakeholders use them to create goals and objectives. With everyone speaking the same language, building a strategy to accomplish goals, and seeing results, is much easier!
Vesta helps business owners develop strategies by first helping them define their Core Values and Core Focus. If your business needs help replacing outdated statements or wants to learn more about EOS and the EOS business operating system, contact Vesta for a free initial consultation