3 Planning Statements for Your Small Business: Write it Down, Make it Happen!
There are 3 key business statements that are key in helping guide you in your business planning. To be successful, every business, no matter how big or small, should take the time to prepare them. It is important that they don’t simply reside in you head. The exercise of writing them down will help you fine-tune your ideas. W hen the concepts are written in black and white, they become much more concrete.
1. Brand Position Statement: What your brand is all about
2. CompanyMissionStatement: The core values your company adheres to
3. Vision Statement: The long term goals you have for your business
Below is a little more information about each statement:
1. Brand Position Statement:
I wrote in detail about the creation of a Brand Position Statement in the article:
Creating a Brand Identity for the Creative Business. It is a concise statement of what your brand offers, including what sets you apart from your competition. It should ideally be one sentence.
2. Company Mission Statement:
This is different from the Brand Position in that it is broader in nature. It states the non-negotiable values that your company (and you) will not budge on.
Are you committed to the absolute best customer service?
Do you incorporate ‘green’ efforts in a certain way?
Are you dedicated to making products that help children learn?
Is your art created through a technique that you will not veer from?
3. Vision Statement:
This states where you see your business going in 2, 5, 10, etc. years. This one is often the most challenging to encapsulate. Often, you are making products, marketing and keeping your business going, but it is vital to establish your longer term goals so that you can make a plan to get there.
Do you want to quit your day job and devote yourself to your business full time? When?
Do you have an idea for another line of products? When would you like to launch?
Do you want to sell via your own website?
Would you like to expand your distribution?
These statements do not have to be overly fancy or wordy. As long as they are simple and actionable, you will find them incredibly helpful.
Keep them in place where you will see them often. I keep mine on a sticky note near my computer and also in my journal. They will keep your business vision at the forefront of your work and will be a daily reminder of your business goals.