As we discussed in the previous Post, when most people begin to think about starting a new venture, they focus on concrete economic strengths, weaknesses and limitations. However, as part of that initial analysis, entrepreneurs should also focus on broader, more subjective concepts, including what is commonly referred to as the venture’s “MISSION.” Don’t miss this opportunity to think about the basic character and unique identity of your venture.
For example, my business, Dos Buenos Amigos Business Consulting has as its Mission “encouraging and assisting small, homegrown business ventures based in Northern New Mexico.”
Examples of other business MISSIONS might be: supporting the development of your local community: reviving or innovating a particular skill, product, or traditional manner of doing business; increasing employment opportunities or building particular skill sets in your geographic area.
If you and your team remain aware of your venture’s MISSION. you will go a long way toward ensuring consistency and focus within the organization. Just as importantly, being able to explain your MISSION to customers and others can help you market your business in a unique and personal way, immediately differentiating you from your competitors.
For example, telling someone “I am really focused on doing whatever I can to assist small, hom-grown ventures in Northern New Mexico.” explains my business much better then “I am a business consultant”.
So take a minute and think about your MISSION. It can be as specific or as aspirational as you want. At this point, just thinking about key components will be most valuable as you plan and start to implement your new venture.
One note of caution, while it is good to have a MISSION, it is only achievable if you have a good,basic,practical business plan.
A MISSION and a PLAN, you need both.
So the next Post, some details for the PLAN.