Mission: Impossible?

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.
“a mission statement to which all employees can subscribe”

Google

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.

Super Vision

In a previous post we discussed the need for a good Vision as a way to inspire people to join you in your pursuit of making the world a better place. It is an important part of your story which can be used to attract talent, customers and investors.

How do you create your Vision? – We share here a 3-step process to get you started.

First you need to understand what your Vision is. Read this post first.

Next, I recommend answering the following 4 questions which I have used with dozens of founders in my sessions at MassChallenge. The best results will come if you can be honest and detailed in your answers.

1. Purpose: What is my company’s reason for existing? Why do what I’m are doing? Why now?

2. Values: Why do it this way? What are the values by which we operate and which will guide us as we pursue our goals? How do we do it better/different than everyone else?

3. Impact: What is the ultimate impact we want to have on the world? What is the utopian future we are creating?

4. Customer: Who is my customer? Why does my customer need me? What do I need to be able to provide so as to allow my customer to benefit from what I offer?

If you are a team of founders then using brainstorming techniques to develop your answers will be very helpful once you have each answered these questions individually.

Some tips for getting good results when answering these questions:

  • Keep it simple and clear
  • Think long-term (5-10 years out)
  • Dream big yet stay rooted to reality
  • Focus on factors that will drive success
  • Make sure you can convey your answers with conviction

The last step is to test and refine till you are happy with your end result. One way to test yourself is to try and define specific goals and metrics by which you can evaluate the realization of your vision. If you can’t identify these yourself then, most probably, others will not be able to do so either. Another test to share your vision with others – family, friends, mentors, etc. – and get their feedback. Did they react with a resounding “can I join you?” or were they more like “ok, good luck!”?

Developing a strong vision for your company will take numerous revisions. It is a process that ultimately tells a story across time – where you have been, where you are today and where you want to be in the future – which requires iteration to both hone the message and learn to convey it passionately.

The final product of these exercises is intended to be a paragraph or two, not necessarily a single sentence or statement. It should be future based – aspirational and motivating. It should be a clear message which drives your business forward. These will in turn be used to further develop your Mission Statement (one sentence) and Elevator pitch (1 minute). We will cover these in future posts.

Another blog?!

Why do we need another blog?

This is a good question and one I have been asking myself for a while. We already suffer from information overload. Entire industries have been turned upside down through the democratization of knowledge. And now we have crowdsourcing and AI and machine learning, etc. So do we really need another blog?

On the other hand, research has shown what we intuitively assumed regarding the positive impact of a good teacher. If you had one, you know what I am talking about. Mine was my eleventh-grade math teacher. Along those lines I truly believe in the power of a good mentor. Many will agree, but it is not always easy to practice. I have been lucky to have several special individuals to learn from in my life. I always tried to learn from each role-model, boss, commander and from my peers with whom I’ve had the privilege of working with or for.

A good mentor can truly make a difference. I have been practicing mentorship myself, in one form or another, since I was in high school when I became a counselor in the Bnei Akiva youth organization. But I was probably doing it even before.

I can clearly state that I enjoy it. I like to listen and learn. I love to analyze and brainstorm. This is what good mentoring is all about. A great teacher creates curiosity and a drive to explore by asking questions and challenging assumptions. A mentor can funnel this towards personal success, corporate success and exceptional achievement.

My personal enjoyment would not be a good enough reason to mentor (or blog about it) but over the past few years I have come to realize that I am actually pretty good at it. More and more people whom I have had the privilege to work with and mentor have shared feedback that is overwhelmingly positive. This led to the realization that maybe I should be doing this professionally.

That is why we launched Sapir Venture Partners. We focus on the types of companies – founders, stage, science, technology – where we can truly be of value as mentors. We are a mentorship driven firm and invest accordingly.

However a fund is limited in scale by design. There are only so many companies we can work with and provide the value we intend to before our team is overextended. And so on a recommendation from a few friends over at MassChallenge I have decided to share what I can through this medium. Everyone is always suggesting we grab coffee so they can get my thoughts on their company/product/career/etc. So hopefully I can share some of that here for even less than a cup of coffee.

We will write about our view of the world and share what we are seeing in the tech industry. Naturally our focus will be on early stage tech investing in science and technology companies with ties to Israel. But not just. We plan to share more on topics that apply generally but which we believe are important to founders at the early stages such as product-market fit, founding teams, HR, IP, innovation and fund raising (of course).

We would also like to hear from you. We welcome your questions and will hopefully be able to address them in future posts. Write to us at: info@spairvp.com

Thanks for reading.

Aaron