When operating a small organization, it can be difficult to stop and think about where you want it to go. Getting through the day-to-day can occupy all your thoughts, leaving no time to think about the future. Having said that, it pays to take some time to chart your path. The best organizations have a North Star to guide them on this path – a mission statement.

A mission statement should be a declaration of why your organization exists – what it is uniquely qualified to offer, and what value you will provide to your stakeholders. In other words, this statement should tell the world why it will be better off because of the existence of your organization. When you’re going through a tough patch, and unsure of where you need to go next, you can refer to your mission statement for guidance.

An example of a good mission statement would be something like: “Our mission at ABC Coffee is to be a place where people can gather around a table with a good cup of coffee and foster community spirit.” If you, as the owner of a coffee shop, believe you are better able to create a comfortable gathering space for the community (maybe because you and your staff have a natural knack for connecting with people); and you know how to make a good caffeinated beverage; then it makes sense to make this your mission statement.

In the lifecycle of any business, several strategic choices can present themselves. Looking upon your mission statement can help you make those choices.