Yes, it’s me again. 101 did so well, I couldn’t help but write 102. If you read 101 and you’re here for 102, you’re right on track.
But….
If you missed 101, you should get to it here before you read this.
Today we are going to discuss your brand’s purpose, missions, vision, and setting goals. These keywords might sound cliche or even excessive but they give you something every brand needs; stability. You have a bedrock, you get to answer the “WHY” questions right before you get to the “HOW” questions.
Purpose
The brand’s purpose (why we exist) communicates the emotional connection of being part of a disruptive new idea that will benefit the world.
Nike’s brand purpose is to unite the world through sports to create a healthy planet, active communities, and an equal playing field for all.
Some might say they a doing a swell job at that,
what do you think? 🤔
Purpose is closely related to the “why” I.e why do we exist? Why do we do what we do?
For instance, IKEA’s brand purpose is to create a better everyday life for the many people. What IKEA didn’t say is that we make great and durable furniture.
Any other furniture maker could’ve said that. IKEA rather wants their products to make life better for everyone. It’s quite obvious why people will connect to IKEA and their brand on a deeper level through that brand purpose. Your purpose goes beyond the products you sell, it's deeper than that. It is what you want to achieve. It should mean a lot to you as much as it means to your customer.
Getting your purpose statement isn’t an easy task, but it’s not exactly the hardest one either. Here are some pointers that’ll help you figure it out:
1. Not a business purpose – instead focus on people, your customers.
2. Non-competitive – other brands could have a similar version, doesn’t matter much.
3. Statement could be relevant forever – might never be attainable
4. Creates a desire for collegial teamwork – bigger than just you.
5. So motivating that people are excited to get up in the morning and charge the day.
Vision
The vision (what we aim to achieve) is very straightforward and clarifies the business goal. Because the vision is measurable, attainable, and single-minded, you are able to monitor and communicate its progress.
Nike’s vision statement reflects exactly what the company has been known for since its beginning in 1964.
To bring inspiration and innovation to every athlete in the world.
Your vision can definitely change over time. This is because you will meet and achieve goals you set.
Like your purpose statement, your vision statement might be a tough nut to crack. These might help:
1. Measurable – how would we know if progress is being made
2. Attainable – must be able to take it seriously
3. Inspiring – must engage people emotionally
4. Cultural – must fit with the brand’s unique style
5. Single-minded – must be focused.
Mission
The mission (how we plan to achieve the vision) outlines the aspirational depiction of the key customer benefits and differentiating initiatives.
Off-white, has the following as its mission statement: To bring the worlds of streetwear and high fashion together by exploring the concepts of branding, the Zeitgeist, and expression of youth culture in the contemporary moment.
“In large part streetwear is seen as cheap. What my goal has been is to add an intellectual layer to it, and make it credible” - Virgil Abloh, creative director and founder at Off-white.
A brand’s mission tells the fundamental purpose of the brand. It defines the customer and the critical processes. Your mission statement is what you use to describe the area of business that you’re in (and what you aren’t in), the type of customers that you serve, and also the level of service that you provide.
Guiding criteria for developing a mission statement:
1. Focus on the primary strategies or initiatives and make sure they are clear enough so people can understand and become motivated by them.
2. Don’t try to pack everything in as it will become too burdensome and ultimately forgettable.
3. Focus on an encompassing idea(s) that ties back to your vision.
The combination of these three statements tell a clear, complete and compelling story – each working together. Purpose is the “why“ we do what we do. Mission is “how” we do what we do and vision is “what” we are going to create as a result of what we do.
To end this chapter, I’ll be sharing an epiphany I had after during the course of my research into brands, it’s founder and their growth.
Everyone has goals, or at least, every one smart enough have goals.
Where do you want your brand to be in x amount of time?
After conversing with several brand founders, asking this question, I gathered that they usually set within these three goals types.
1. Money Making Goal
You can deny it all you want, but there’s a good chance you said this when you thought about starting a brand:
“I want to start a brand because I want to make money. I think that it is a viable way to make money.”
Thing is, it is actually a viable way to make money.
But, if you’re trying to get into the fashion brand game, you don’t want to go in with the money making goal mindset at first. It is a by-product, the result of your hard work.
2. Passion Project
With the passion project, your’e not actually concentrating on money and you end up losing money a lot in the long run if you don’t know how to navigate the waters of making your own brand. Most passion projects are by people who want to have creative control over almost every aspect of the design process of their brand. They really want to be hands on with their project because its all about them expressing their creative identity.
They end up missing it because they are all creative and no business. They fail.
3. Legacy Goal
They are threading the needle between passion and money making. That’s the gold spot. They have adjusted their thought process into “I want to make a brand but I’m in the fashion business”. People forget that once you start making a brand, you are in the fashion business, you’re no longer in just the creation business anymore. You have to treat it like a business, because that’s what it is. Which means that you need business aspects of your brands to make sure that it is solidified and its stands the test of time, meaning it is future proof.
Basically…
Take your time, decide why you want this. No one can be more honest to you than you can be. Figure out where you lie, and decide your next move.
Next week, we will be discussing on your customers, who they are, what they love and how to discover it. Looks to be a fun one, so you don’t want to miss it. Join our exclusive community so you can get a notification when it drops. ✌️
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