Define the Purpose of Your Business

Filed in archive Writing a Business Plan on November 2, 2006

A clear, compelling and exciting purpose can make a substantial difference in achieving your objectives. It becomes the driving force behind the business. Express what is important to you.

Sometimes called a mission statement, I like to think of it as defining your purpose and it should answer these questions:

1) Why does your business exist?

2) To what end is all the businesses effort and time being expended?

3) Who is the customer?

4) To what end is all the effort and time being expended?

To be of practical value, this purpose statement must be brief enough that it can be remembered and instill confidence. Therefore, it should be 25 words or less. Eventually, you can shorten it to 3-5 words for a promotional tag line.