Why Is (Airbnb’s) Mission Statement So Powerful?

👋 Hey there! I'm Remik, and I'm glad you're here! In this newsletter I’m sharing practical tips for mastering product management. Let's dive in!

While results of the recently conducted poll on the topic of mission statement may not be fully conclusive, they suggest a pattern: many organizations appear to lack a clear mission.

In fact, 42% of respondents noted this challenge, while 33% highlighted difficulties in effectively communicating existing missions. Nonetheless, a resounding 90% underscore the crucial role of a clear mission statement in guiding product development.

Mission statement, in simple terms, is a concise statement that captures the core reason for the existence of an organization and its intended impact.

It answers 3 fundamental questions about the organization:

1. What is the reason for our existence?

2. What principles do we stand for?

3. What impact do we aim to achieve?

Yet, there's a trap to be aware of. Organizations may get caught up in crafting the most concise, aspirational, and bold mission statement, neglecting the crucial element of clarity. This oversight can undermine the benefits that a clear and sound mission statement typically offers.

A well-thought-out and formulated mission serves as a powerful tool for engaging employees, stakeholders and customers: