At some point during the launch of your startup, it's likely that a potential investor will ask you about your company's mission statement. Many business management experts would argue that this should be your company's cornerstone, inspiring and informing your employees in the years ahead. I can't agree.
The Virgin Group does have a mission statement; one that is brief and to the point. In general, there is too much importance being placed on such statements, but it is interesting to see how they reflect common missteps in business. Most mission statements are full of blah truisms and are anything but inspirational.
A company's employees don't really need to be told that "The mission of XYZ Widgets is to make the best widgets in the world while providing excellent service." They must think, "As opposed to what? Making the worst widgets and offering the lousiest service?" Such statements show that management lacks imagination and perhaps, in some cases, direction.