A Guide to Crafting Your Business Mission and Goals Target
Why Are You in Business?
Imagine driving through the Outback without a map or a destination. Every red dirt road looks the same, and eventually, you’ll hit a dead end or run out of fuel. Business is no different. If you don’t have a clear destination, every decision can lead to frustration.
This brings us to the most critical question for any Aussie entrepreneur: Why are you in business?
Sophisticated investors and lenders aren't just looking at your spreadsheets. They want to look under the bonnet to see what drives you. They are looking for the soul of your business—your Mission Statement.
Your Business Foundation
In the world of business frameworks (often referred to as the B.I. Triangle), the mission is the absolute bedrock. It sits at the bottom of the triangle because it supports everything else.
A mission isn't just a formal blurb you stick on a website "About Us" page; it is a sacred guiding principle. It answers the fundamental question of why you exist. While all for-profit companies exist to generate revenue, the most successful ones know that money is a byproduct, not the sole purpose.
Service vs. Profit
There is a crucial distinction in motivation:
Service-First: You are in business to serve people, and consequently, you make money.
Profit-First: You focus solely on profitability, with service being an afterthought.
Educational Note: Businesses driven solely by profit often lack a "soul." In the Australian market, where authenticity is highly valued, a business without a higher purpose often struggles to survive the early stages. Great entrepreneurs prioritise serving a greater good.
The Compass and The Map
To understand the difference between a mission and a goal, think of navigation:
The Mission is your Compass: It provides direction. It tells you where "North" is. It is the navigational tool you use when making difficult decisions or evaluating new opportunities.
The Goals are your Map: These are the detailed, step-by-step plans and landmarks you need to hit to turn your vision into reality.
It is significantly easier to achieve success when you have a compass to guide you and a map to show you the steps.
Practical Exercise: The Journaling Method
Before you write a formal business plan, you need to get your thoughts out of your head. A practical approach is journaling. Don't overthink it—just write.
Try this exercise for a week. Grab a journal and a pen, and answer these questions to find patterns in your thinking:
I have always wanted to...
If I knew I could not fail, I would...
I will be successful in my business because I want to offer a product/service that will _______ over the next five years.
I excel at...
I can make the biggest difference in the world by...
I can serve the most people by...
Setting Measurable Goals
Once your mission (compass) is clear, you need to draft your goals (map). Even if you are passionate, you cannot manage what you cannot measure.
Your primary goals must be quantifiable. Vague aspirations like "I want to be the best in the industry" or "I want to make lots of money" are not actionable. You need concrete criteria.
Examples of Quantifiable Goals
| Vague Goal | Quantifiable (SMART) Goal |
|---|---|
| Be the best in the market. | Achieve a top 3 market ranking by volume within 18 months. |
| Make a good profit. | Generate $150,000 AUD in net profit by the end of the financial year. |
| Improve safety. | Reduce workplace injuries by 20% over the next 12 months. |
Support Goals
To reach your primary goals, you need "support goals." These are the tactical milestones. Using the safety example above, support goals might include:
Organising an OH&S (Occupational Health and Safety) seminar with expert speakers.
Developing a robust safety protocol manual.
Implementing a bonus system for teams that demonstrate safe practices.
Visualising the Future
Don't be afraid to dream big. While your business plan needs to be professional (especially if seeking investors), your personal journaling should be unconstrained.
Visualise your business 5, 10, or even 20 years from now. engage all your senses:
Sight: What does your office look like? Is it a sleek high-rise in Sydney or a creative warehouse in Melbourne?
Sound: Do you hear the quiet hum of productivity or the ringing of sales registers?
Feeling: Do you feel the freedom of entrepreneurship and the security of financial independence?
Distilling Your Mission
After journaling and goal setting, you should be ready to distill your purpose into a single, powerful sentence.
The Mission Statement.
This sentence will tell investors, friends, family, and customers exactly what you do and why you are different. Remember, money alone won't ignite the fire in your belly needed to overcome the hard days. A desire to serve others and solve a genuine problem will.
Start today. Listen to your inner voice, grab a pen, and start mapping out your journey.