I have created a mission statement and would like it to be reviewed by the BP community, all suggestions are welcomed.
"The mission of Viridge Enterprises is to be the most successful investment company in the Dallas-Fort Worth Area. We are full-time real estate investors who acquire below market residential properties in any condition. Our focus will begin on rehabbing until we’ve hit our profits goal, then we will transition into acquiring rental properties and expand our portfolio."
Hey Jermain, I commend your vulnerability but to me, it looks more like a business plan than a vision statement.
Why are you in this business? Who do you serve? What do you want your impact on the community in which you operate to be? What are your guidng principles?
Things that come to mind when I think Vision statements.
Before I answer can you tell me the purpose of your mission statement?
@Ernesto Hernandez Thanks, I'll continue to revise it. I'm pretty sure I have a more focused approach to this. I see what I needed to include and change.
@Brad Chandler I've figured out that my mission statement should revolve around my 'why' and that I'd have to revise it to make it more detailed in a way that shows what my goals are as a business and what we plan to achieve.
I found these examples of mission statements helpful
My favorite is:
TED: Spreading Ideas
My 2 cents, for what it's worth are that I think this describes a lot of "what" and not a "why". It's good to have an idea of what your methodology will be, but mission statements need to hit on some of the notes Ernesto mentioned to motivate those working with you. You should look up some of Simon Sinek's work about starting with why. And I generally think statements that include "most successful" or "best" tend to be too generic to be actionable, because how do you track that? If you want to have something aspirational, pick one strong suit you want to play to and benchmark with other investors. Something like "We aim to have the fastest cycle time from initial offer to post-rehab listing in the DFW area," as an example. But don't throw a goal out there just because unless you will build around it and use it.
Your mission is too ambiguous. What does "most successful" mean? Its not inspiring - which it should be.
@Jill F. Thanks for that, it will help me create a short, to the point mission statement.
@Neil Sinha Thank you, I'll look up Simon Sinek's work, and thanks for the feedback.
@Brad Chandler Thanks Brad, I'll be sure to use everybody's knowledge here to create a more in-depth mission statement involving my "why".
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