What is a Business Charter?
Last blog, I shared some truth about social media and shifting our mindset to focus on building a community of loyal supporters that will invest in your brand versus simply creating content for social media. Every time your brand speaks to your community, the message needs to be clear, focused, compelling and delivered in a voice that is cohesive across all your channels of communication.
There are THREE main elements to your brands messaging: a business charter, which comprises a mission, vision, and value proposition; brand positioning statement, and a brand story. A good business charter drives your business and sets the tone for a clearly defined team purpose to achieve project goals. Today, we will focus on drawing out the essentials of your strategic plan with your mission, vision, and value proposition statements.
You need a mission and vision statement
Your mission and vision statements define the purpose of the company - creating a positive and motivating environment for employees and stakeholders. Mission and vision statements outlines the goals and expectations of the company and are vital in growing your enterprise. They are the core of your business and its messaging framework.
Mission and Vision: We are not the same!
A vision statement is what the company hopes to realize in the near future, as a result of your work. All of your company's activities will be carved out based on where you hope to go.
Your mission is the concrete, actionable steps that your business is taking to realize its vision. It is what are you doing in real time to create a lasting impact on your community of stakeholders.
Your mission drives your business and vision is the fuel powering the vehicle.
Your mission and vision aren't there for show. They define the goals and purpose of the company. A strong mission makes work meaningful and defines your company's culture. Company culture is built on the goals and values of the company as a whole and not individual, employee self-interest. If employees understand the company's goals and believe in its mission, they will stay focused on helping to realize its vision.
The final piece to your business charter is the value proposition statement. It declares why a customer should purchase your unique product or service versus a competitor. It tells a customer what you are promising to deliver and how they will benefit from your product or service.
There are FOUR elements to a value proposition: what, who, why, and how.
- What product or service are you offering that resolves the customer problem or meets their need?
- Who is the ideal customer that will benefit from your product or service?
- Why is your product or service valuable to the customer?
- How is your product or service different from competitors?
I'll use TOMS value proposition as an example:
"Improve the lives of millions of people around the world while creating a for-profit sustainable business model, based on a fashionable product for aware consumers."
- Offering - Shoes
- Audience - Conscious consumers
- Value - Giving back with every purchase
- Differentiator - Improving lives and communities around the world
Now, you should understand what a business charter is and why it's vital to your business. There are two more components left in our messaging framework. Next time, we'll be discussing brand positioning and how it's different from the other elements.