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This business coaching episode explains how to write a focused mission statement.

Results-Focused Training, Tools, and Workshops from Expert Business Coaches.

Featured Coaching Excerpt - Notes & Transcript, Part 1
  • Principle #3: Whom do we do it for?
  • Notable Quotable: "Outstanding people have one thing in common: An absolute sense of mission."
    -Zig Ziglar
    (Best selling author and renowned motivational speaker)
  • Ask Yourself: Who are the ideal and likely buyers that would appreciate and be willing to pay for the products and services that you offer?
  • Notable Quotable: 'Four score and seven years ago...'
    -Author's Name
  • Definition Magician: Additional items of dress or equipment, or other items carried or worn by a person or used for a particular activity.
  • Editor's Note: Clay is the co-founder of the Elephant In The Room Men's Grooming Lounge. www.EITRLounge.com.
  • Lesson Nugget: Your mission statement should help you frame and answer nearly all other business questions related to that particular business.
  • Action Steps: Define where your ideal and likely buyers live. Define where they shop. Define their preferences.
  • Editor's Note: Behold a quality bowl cut.
  • Editor's Note: Pat was a character from an SNL skit whose gender was not discernable.

-We're moving on to principle number three, whom do we do it for? OK. So Zig Ziglar says, "outstanding people have one thing in common, an absolute sense of mission." Tell me about Zig Ziglar and this quote right here.

-Well, you have to have a mission. Zig Ziglar is pointing out that people who are super successful have a very crystal clear mission. They have a crystal clear vision. And as a consultant, as an example, I knew that because of what I needed to charge to offer the services that we offered, I would only go after certain kinds of businesses. So I wasn't going to work with a whole bunch of startups who couldn't get together the $1,500 to $2,000 a month needed to hire me. I just wasn't going to do it because I would lose my shirt. I'd go homeless. I would starve because I know that it's not a sustainable model.

But I knew that for Thrive, Thrive was built for anybody, whether you have $20 a month or you have thousands of dollars, whatever. It was built for everybody. It's built for the everyman, anybody who wants to achieve more than just mediocrity. That's what Thrive15.com was built for. It's designed to mentor millions, whereas as a consultant, I built my business to basically mentor like 15 people, not to mentor a million. So everything about the business models is different.

As a consultant, I don't have a certain scalability. There are certain systems that involve me. It's designed to be a certain experience in an atmosphere where the customer comes to my conference room and I offer them a certain accoutrements, and beverages, and nuances, and coaching, and training, and all the services they need right there in one place. Where Thrive is designed to be your total knowledge resource that anyone can afford for $20 a month or less. So it's totally two different missions. I'm the same guy but I have two different missions.

And a third mission, just to give you an example, is the Elephant in the Room, that's the men's grooming lounge that I'm an investor in and an owner of. That's designed to create this excellent environment. It's kind of, like, designed to be-- provide almost a country club for men's hair. And it's supposed to be a higd-end environment with rustic barnwood, and we do straight razor shaves, and paraffin hand dips. And so it's just a totally different mission for each company.

But that, basically, is kind of like the decision point. Your mission statement should help you make every other decision after that. If you have a good mission, you know what you're about, then every other decision should be framed based off of that mission statement. So there couldn't be a bigger thing for your company to start with than a solid mission statement.

-And so principle number three is, whom do we do it for? OK. So you've got to identify specifically as an action step for you. Identify whom are we doing our product and service for?

-Elephant in the room is designed for-- it's a high-end men's grooming experience. So you're not going to get out of there, if you're dude and you're getting hair cut, for less than about $37. You're just not going to. I mean, if you come in to go, hey, man can I get a bowl cut? Now, if you're watching this and you love bowl cuts, we can talk. But the point is, if you walk in and say, hey, man I want a mullet and like a bowl cut, you know?

You go, well, maybe you can't get those at the same time. I want a bowl cut and a mullet combo. You know, then you could do that, but we're still going to charge you $37. If you walk in and say, hey, man I want to shave my head and put like a lightning bolt on the side of it. So that way I got a lightning bolt on the side of my head. And you go, oh, it's $37. Hey man, can I just do like a-- can I just do a little touch up? $37.

And if someone goes, well, hey, man down the road, man, there's like $9 for a haircut. Place down the road, man. It's right down there. $9, right down the street. And we literally have a place right down the street that's $9. Hey, man, within like 30 feet there's like $9 haircuts, man. Do you want to-- no. Because that's not our customer base. Our system, our product, our service, our mission, our values, everything we do is designed to accommodate the guy who wants accoutrements and paraffin hand dips and hot towel treatments and a place where dudes can feel like royalty as they cut their hair in peace and sanctimoniousness amongst a company of fellow men.

-There it is. OK. So principal number three, whom do we do it for? Super important

-Yeah. Now, real quick. I'm just going to say this because I want to-- if I don't offend you or you don't offend me and we're communicating, then we're being false kind. I'm not going to this whole politically correct BS. You can go anywhere else to fine politically correct BS. But in Elephant in the Room we always have somebody, we'll call her, like, I don't know. I'm going to think of a name. You know Pat, that character from Saturday Night Live?

-OK. Yeah.

-Where Pat's kind of change gender and you're not sure of what Pat is. Well, we have these people that will come in they'll say, um, I want to get my hair cut. And her name's, like, Ashley or something. And you're like, OK. You know it's a men's only grooming lounge. Well, I want to get my haircut here. And you can't, like-- it's a men's only. That's what it is. It's men's only. Which means we're losing out on boys. Were losing out on women. Were losing out on transgendered people named Pat. We're just not going to get that business. And that's OK, but it's a men's only grooming lounge. That's what it is. You know what I'm saying?

Featured Coaching Excerpt - Notes & Transcript, Part 2
  • Editor's Note: You only want to target your ideal and likely buyers.
  • Editor's Note: We are not endorsing the nutrition strategy of eating only Michelina's Budget Gourmet meals.
  • Fun Factoid: Spanx, Inc. is an American hosiery company founded in 2000 that is based in Atlanta, Georgia, United States (U.S.). The company mainly manufactures pantyhose and other undergarments for women and, since 2010, produces male garments. Spanx specializes in foundation garments, including undergarments and bodysuit shapewear, which are intended to give the wearer a slim and shapely appearance.
  • Editor's Note: American Girl is an American line of 18-inch dolls released in 1986 by Pleasant Company and founded by Pleasant Rowland. The dolls portray eight- to eleven-year-old girls of a variety of ethnicities. They are sold with accompanying books told from the viewpoint of the girls.
  • Editor's Note: The mailers from Victoria Secret don't stop because they can't stop...because they work so well.
  • Principle #3: Whom do we do it for?
  • Editor's Note: Last Christmas by Wham is sincerely Clay's favorite song. Thus, Marshall must see George Michael ads when at work.

[MUSIC PLAYING]

-You guys have proactively identified specifically who you want to target with the business.

-Specifically we only do mailers and ads for people of a certain economic status. And anybody can go there, but we only mail to a certain niche, because I know as a guy growing up, as an entrepreneur growing up starting my business, I couldn't afford a $37 haircut. That was literally 37 meals.

I got these things called these Budget Gourmet. It's called Budget Gourmet, which is an oxymoron, chicken panini in the frozen freezer section at Walmart. And you look at it. It's got like 7,000 times-- literally, like 80% of your sodium in one serving. And there's two servings per one. And so you're like-- you're definitely going to die of a massive heart attack if you eat these every day.

And I would eat that for every meal because it was $1. And when I didn't have that, I'd have ramen.

Well, I don't-- that was 36 meals, or 37 meals for the haircut. I mean, that's a lot of money. You're talking about 37 meals of ramen for a haircut. I just couldn't do it. So there's no point of mailing these people.

Furthermore, if you have like a mosque, if you have a mosque, you know, and you're trying to build up your Muslim follower base, you have a mosque, you probably don't want to target Catholics. You know what I'm saying? Because they probably are trying to market to other Catholics. It's just, you got to find your customer base.

If you're selling spanks-- And I know spanks has stuff for dudes now, but if you're selling spanks to women, you don't want to market that product and mail it to everybody in the world.

My daughter gets those American Girl Doll magazines. And seriously, from the time of birth my daughter starts getting these American Girl Doll catalogs sent to her. And they're targeting new babies. They're marketing to babies.

That doesn't feel very good. Marketing to babies? I know, my wife and I-- I literally said to my wife, they're marketing to babies. They're sending this to our baby already.

I mean, you hope your kid doesn't get marketed to til at least they're-- you know, when you're in college you're getting offers for free credit cards. But those people at American Girl, they know what's up. And it feels like a story, like a fairy tale.

So my daughter's reading their "stories," aka their marketing material. And she's like I want that baby. And so here we are, she's like five, and she's asking specifically by name what American Girl Doll she wants to.

She's five! We're raising her in a bubble. She doesn't interact with the rest of the world. We live on a chicken farm, you know. And she knows that she wants the American Girl Doll because of the stories in those magazines.

You have to know your target audience guys. American Girl Doll gets it.

Victoria's Secret's always saying, hey, if your wife comes in and buys whatever the heck, she gets free underwear. And we just go in like we're mindless drones, like every week. We are here for the free underwear. We are here for the free underwear. They know who they're marketing to, man. They know.

Sprouts, Mills Organic. They have an organic grocery store. Whole Foods. They know who they're marketing to, you know. Elephant in the room. It's men's only. Who are you marketing to? You have to know your niche.

-So the third principle here for writing the mission statement is whom do we do it for?

Now, If you need help identifying specifically who your ideal and likely buyer is, we have a training on that. So you can find that on the site.

But for all of the Thrivers out there that are writing this mission statement right now during the training, you got to identify whom do we do it for, OK. You've got to work that in, OK.

Now we're going to get into the fourth principle.

CLAY CLARK: Real quick. There's a reason why when Marshall is on Facebook, he only sees ads for the upcoming George Michael album. And it's all based on demographics. It's research. It's studies they do.

-It's based on interests that I put into my Facebook profile.

CLAY CLARK: "Careless Whisper"

-"Careless Whisper"

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