Some people might think a mission statement or product philosophy is just "words on paper" and a waste of time. But to get into business and stay in business, it is important to know who you are, how you got to where you are, and then have the vision of where you want to go. A written statement or philosophy helps in the guiding process.
Seventeen years ago, our company adopted a product philosophy that had been used by another company in another industry. It seemed to fit our situation-since we were just starting to "poor boy" our way into the lawn mower business:
The only way for a small company to enter an established product market and stay there is to design products with irresistible superiority and uncompromising quality. A conventional product with conventional performance may be acceptable and even attractive when offered by a large established company; the same product offered by a small company cannot hope to survive in the marketplace where profit margins are small, competition is strong and consumer loyalty to existing product lines is great.
Designing and manufacturing a product that has brought success and satisfaction to our customers is the basis of the success and growth Walker Manufacturing has enjoyed over the last several years. Our philosophy continues.