When engaging with entrepreneurs trying to change the world, we look for people who are on a mission. We are not unique in using these buzzwords as many other investors also claim to back “mission driven founders”. So, for the sake of clarity (and transparency in the industry), we wanted to break down what “mission-driven” means to us at Sapir.
Let’s start with the formal definition offered by a Google search:
a formal summary of the aims and values of a company, organization, or individual.Google
“a mission statement to which all employees can subscribe”
Even with such a simple definition there is already a lot here for us to unpack.
formal summary – indicates it should be crafted with a formal tone and language but in brief form rather than War and Peace.
aims and values – this is the core of the statement as it is the message you are conveying in the to grab the attention of your audience and connect with them around what truly matters.
statement – I recommend one sentence. It can be a long sentence, but the message needs to stay brief.
all… can subscribe – the end product needs to inspire and drive to action.
With this in mind we would like to propose some practical steps to create this monumental sentence so it is deserving of being called a Statement.
1. Define your purpose. What are you setting out to do? How will you be changing the world and making it a better place? Why does the world need your company? Why now? – If you have read our previous posts about your company’s Vision and how to create one then you have already developed this core material.
2. Drill down to first principles. Get specific around what is important to you as far was what you want to achieve and the values that guide you in your pursuit of these aspirations. First principles make it easier to quickly comprehend your message.
3. Create inspiration and drive action. A call to arms, so to speak. This statement will be the rallying call that introduces or reminds the audience of the grander (and longer) vision each time they hear or see it.
4. Iterate until you have a single comprehensible sentence.
Your Missions Statement is not your vision. It is not a grand description of the utopian future you are creating or a list of your core values. It is not even your Why. These are all different components of your corporate culture and each piece plays a different part. I’ll illustrate how you can use your mission statement with a personal story.
After 4 months of basic training and 3 months of advanced training our infantry platoon was stationed at an outpost along the Israel-Lebanon border. Our training had included seminars on ethics and conduct, not to mention the code-of-honor drilled into our minds throughout, balanced with the need for a military force to defend the Jewish people (the IDF is the most moral and ethical military force in the world!). But despite all of this advanced preparation, in every mess hall and briefing room there was a sign that said: “Protect the Northern Towns!”
A brief history can be found here, but ultimately we knew we were there so as to guarantee that civilians living in a town or in a kibbutz a couple of kilometers away could do so peacefully. And yet, every time we walked into the room, we had that super simple three-word statement front and center reminding us of all the other details – values, purpose, training, etc. – without needing anyone to repeat them all again.
The Mission Statement is concise because it can be if there is a strong vision shared in advance which incorporates the grand purpose and core values so it does not need to iterate them again. Rather it is a sentence that reminds those who know already and captures the attention of those who do not yet so they will want to learn more.
It is also important to emphasize that your Mission Statement is not your Elevator Pitch. We plan to discuss the Elevator Pitch in a separate post. The Mission Statement can be part of your Elevator Pitch, but it is still just one sentence so at most it would be 10 seconds worth of your 1 minute elevator ride.
As a final note, you can have multiple mission statements geared towards different audiences. Though the core should remain the same and thus the different versions similar, the emphasis can be adjusted to best address an employee or a customer or an investor.
At Sapir Venture Partners we empower founders who are not afraid to challenge assumptions and look for creative solutions to grand problems by leveraging cutting-edge science and technology so as to create a positive global impact while holding themselves true to a core set of inspirational values with which we align allowing us to provide mentorship at the early stages of their journey.AZ
This is our mission statement.