Seth Rainford is the president and co-founder of Digital Diagnostics, a pioneering AI diagnostics company.
“To be like the rock that the waves keep crashing over. It stands unmoved and the raging of the sea falls still around it.” These words from Marcus Aurelius describe well what Viktor Frankl did in four different concentration camps over a three-year period. With unimaginable circumstances, Frankl remained steadfast and lived to write about his own (and other’s) search for meaning as a result of what he endured.
There are countless examples in the business world today where Frankl’s example, and Aurelius’ words, are borne out. I would argue that running a business successfully is about so much more than just an idea itself. In fact, I’d go so far as to say that the difference between a business that survives and a business that thrives comes down to something pretty close in concept: amazing people who believe in the company’s purpose and mission.
Purpose—often referred to as the “why”—is critical. My own personal why could be another article entirely, but ultimately comes down to people. I love people. For me, there’s an unending satisfaction and energy that comes from serving others and seeing them flourish. This starts with my family and holds true with everyone from teammates I get to work with to customers, patients and marginalized or impoverished communities. The mission on the other hand generally gets at how a business fulfills its purpose. I mentioned serving others—you could say that’s how I seek to accomplish my purpose personally.
For businesses, tangible metrics like revenues, expenses and margins matter. The company’s mission though, which is directly tied to culture, is what keeps the people in the company inspired, motivated and moving forward. Without the people behind the metrics, sustainable growth and true success just don’t happen. You can have moments of intermediate growth or small wins that provide short-term ecstasy, but those moments are fleeting and don’t keep a team together for the long haul. There has to be a higher purpose.
What does it mean to be a mission-driven company? Many companies have a mission statement that outlines the organization’s purpose and mission in clear and concise terms. In some organizations, the mission statement feels more like a formality than something that’s lived out every day. It may be just a few words about the company’s product or service and how it helps their customers tacked on to the front of the onboarding handbook that is given to new employees when they start. I’d argue that in order to make a real impact in the organization, the purpose needs to be embodied within the company, its leaders, its policies and ultimately its culture.
So, what makes a good mission statement? First and foremost, a solid mission statement begins with a great primary objective and “how,” highlighting the importance of the mission itself. Clarity is paramount if you want your team to be able to run hard in the right direction on their own or in leading their own teams. Usually, a mission statement is a sentence or two that not only describes what the company does, but how it aspires to do it. The mission statement offers a sense of purpose for the organization and everyone in it. Ideally, the mission statement should be visible, tangible and audible in every part of the company, from how employees interact with customers to how the company thinks about deploying capital.
Let’s take a look at some successful organizations and their mission statements:
• Starbucks: With every cup, with every conversation, with every community—we nurture the limitless possibilities of human connection.
• JetBlue: To inspire humanity—both in the air and on the ground.
• Tesla: To accelerate the world’s transition to sustainable energy.
• TED: Spread ideas, foster community and create impact.
• Asana: To help humanity thrive by enabling all teams to work together effortlessly.
• Patagonia: We’re in business to save our home planet.
What’s similar about these mission statements? They all mention inspiration and in one way or another, bettering humanity. You could argue some are too specific or too broad, but each serves the purpose of anchoring teams around a common purpose for good. They also get at how each business seeks to accomplish their why.
At my company, Digital Diagnostics, we are on a mission to transform healthcare through AI. Our mission is clearly reflected in our mission statement: “To benefit patients by transforming the accessibility, affordability, equity, and quality of global healthcare through the application of technology in the medical diagnosis and treatment process.”
Our mission statement is longer than the ones discussed above, but doesn’t waste time getting into the why in what we do. Our mission is about providing a better way of doing things for patients. When brevity is necessary, we lean on our tag line: “AI the right way.”
Our mission statement has had a profound impact on how we run our company. From our values, to our policies, procedures and processes, the mission statement acts as a north star, always tying us back together. We aim to have our team, which is over 100 members strong, embody the company’s mission in everything they do.
So, I implore you to think about how your mission is driving your company forward. A strong mission can set the stage for the trajectory and longevity of a company. You can return to your purpose and mission whenever you have an important decision to make. It’s a constant reminder of why you do what you do in your unending quest to be the rock that the waves keep crashing over.
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