Small Business Marketing Strategy: Creating Your Mission Statement

The primary step to creating a successful small business marketing strategy and life is to decide what you want. Not deciding what you want is one of the most common reasons most advisors and small businesses are never able to reach their potential or they even fail. Once you decide what you want, you are ready to create your mission statement.

Steven Covey’s book, "Principle Centered Leadership", illuminates to the reader that a mission statement should include "four basic human needs: psychological or growth, social or relationship, economic or money, and spiritual or contribution."

In spite of the outside circumstances, principle based mission statements can remain stable in the economy, market, or political environment. A mission statement based on principles should be inclusive of: the affluent niche you serve, financial products and services you offer, values of your financial advisory firm, how you offer your product or service, as well as how your advisory firm gives back to the community.

Small Business Marketing Strategy: Step One: Determine the core values of your small advisory business.

Attaining clarity on what we give worth to ensures an easy decision. "When your values are clear to you, making decisions becomes easier," as once said by Roy Disney.

Select the top values that govern your advisory firm and life.

Identify (circle) your top four small business values from the list below or select others separate from your current values that may better represent your firm.

Service

Quarterback

Honesty

Delegation

Learning

Community Education

Connection

Volunteer Work

Relationships

Education

Fitness

Balance

Spiritual Connection

Financial Literacy

Advice

Creating

Teaching

Compassion

Financial Security

Include all of your firm’s team members.

Letting your team have a say in your mission statement will do more for the execution of your small business than almost anything else you otherwise execute.

Small Business Marketing Strategy: Step Two: Identify the affluent niche market you serve, in your financial advisory practice.

When composing your marketing strategy, make sure to be as specific as possible in identifying your ideal niche market; for example, non-traditional affluent women would be a better niche market description as opposed to only saying all women. Or even corporate law firms would be better than simply saying all lawyers.

Small Business Marketing Strategy: Step Three: Set the goals you aspire to achieve.

Perhaps the goal of our affluent women niche market is to provide a financial freedom legacy for non- traditional and combination affluent women. In response, your mission may be to educate and advise corporate law firms on risk management through disability and overhead insurance products.

Small Business Marketing Strategy: Step Four: Identify the various roles you offer to your affluent niche market.

Some of these various roles may include debt counseling, budgeting support, risk assessments, risk management, tax planning, insurance analysis, financial analysis and financial planning, investment planning and/or estate planning.

Other services for affluent discerning clients may include concierge services, animal training, cosmetic surgeons, medical or dental referrals, travel agencies and anything else your affluent clients desire.

Small Business Marketing Strategy: Step Five: Draft a mission statement for your financial advisory practice.

When you draft your small business marketing strategy the best way to do this is to create a few sample drafts and then determine which draft mission statement best resonates with your small business.

Small Business Marketing Strategy: Step Six: Confirm that your draft mission statement compliments your purpose and the "why."

The "why", or reasoning, is the base to your plan making it essential to be a part of every component of your business.

Small Business Marketing Strategy: Step Seven: Finalize your mission statement for your business.

An example of a mission statement for small business owners XYZ would be – XYZ Business Consulting firm provides objective comprehensive advice to manufacturing firms desiring to expand their firm. Our goal is to provide a combination of programs that help clients market and grow their business.

For example: Advisor Marketing Practices provides solutions to increase retention, referrals and repeat business for financial advisors and the firms that support them through relationship marketing programs. Our goal is to improve the lives of all of our stakeholders by elevating their business & life. We present this through a fun, educational learning atmosphere. Our programs are also designed to progress financial literacy and marketing support to all clients, especially women.

Follow these seven easy steps to create your mission statement. Once you have completed this you are ready to solidify it with your mission.

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Small business owners and consultants go to, Million Dollar Marketing Strategies.

Annette Bau, CFP(r), is the founder of Advisor Marketing Practices and the author of numerous books and products.

She can be reached at Questions@MillionaireSeries.com.