How to start a Business
As part of the series of breaking down the business plan, we are going to look at a fundamental part of that plan – your Company’s Mission Statement.
Ok, so you have your idea. What we are going to do today is brainstorm your idea with the aim of identifying your company’s brand values. The Mission Statement flows from this.
What is a Mission Statement?
This is a summary of your company’s brand values and goals in a single paragraph. This is what the company will be living and breathing…..in its dealings with suppliers, customers, employees and investors. It will be inspirational. It will be challenging. It will be dynamic and will motivate you every single day.
So, where do we start?
As the leader or CEO of the business, very often the business values will reflect your own values and indeed until they are aligned, you might find it more difficult. Therefore, lets start with brainstorming YOUR values and the ones that you think might be applicable to the business. Have a long think about the values that matter most to you. Here is a link to a blog looking at the values of business award winners. Once you have your five, evaluate them to see how they can apply to your business.
In Mama Tea, our values are undernoted:
“Empowerment” is one of our core values. We seek to empower our wonderful customers with teas that help them through difficult times in their pregnancy. Faced with labour in particular, if women feel empowered then they can reduce the stress and fear that is sometimes present with labour. In doing this, they reduce the stress hormone, “Cortisol” and so allow all the wonderful pregnancy hormones to kick in that help to speed up the labour. Taking control in this way, empowers them and helps them.
However, it doesn’t stop there. We take this value right throughout the company. So, we believe in empowering our employees. Giving them the power and responsibility to grow and develop within Mama Tea. We trust our employees and believe that this is always reciprocitated. We also try to empower anyone that comes into contact with the brand. If we meet other female entrepreneurs and entrepreneurs, we try our very best to energise them and give them encouragement. Again, this flows from our core value – empowerment.
So, please do the same with your list. How can you apply each and every one to your business?
The next blog will explore the Business Goal.