How will you bring your vision for your business to life? What is its mission? What is its purpose?
PACE: Slow and Steady: 4 weeks | Moderate: 3 weeks | Accelerated: 2 weeks
What is the vision for what I am starting now, and how can I communicate that vision to others in a mission statement? What and who do I believe I will need in order to make that vision become reality? What is the purpose of my company?
You will hit your target when you have a clearly defined mission statement and purpose for your business, and you have connected with others to confirm their interest in that vision, and you have the beginning of a plan for making it happen.
Define your vision for your business – its mission. Write it down.
Define its purpose, its reason for being. Write it down.
Who are the clients? Assemble this information on a spreadsheet.
— Google, connect in person: Find out if anyone cares that you are building this business.
Who are the competitors? Assemble this information in a spreadsheet or word document.
— Identify: What do they do well? Where do they lack success?
— Define three key things that differentiate your business from theirs.
Build a plan. Write an outline
— Identify what you need to get started: expertise, information, resources.
— What kind of business are you building?
— Map your future: how will this business grow?
— Determine your network of people who can help you build your business.
— Determine how you will make money.
——Are you a B to B, B to C, or both business?
How do you feel about your vision now? Is there anything you want to tweak based on feedback from others, needs for the business, available resources, your confidence in your vision? Write this reaction down.
TAKEAWAY — Now you will have documents that articulate:
Spreadsheet: Some potential clients for your business and the market competitors
Word document: Your mission statement and your purpose statement
Word document: An outline describing the plan to build out your vision, what resources you will need to do that, and how your business will make money.
STEP TWO ROLE MODELS
Research: The Internet, friends, strangers
Organizational: Excel Spreadsheet to record Market Analysis: one page for competitors, one page for clients.
Mission: A written declaration of your company’s core purpose
Purpose: What is the meaning of your company in the world
Feedback: Response from others in answer to your questions
Industry Analysis: Research on the industry your business is in.
Market Opportunity: How does your business fit into the industry, and how does it serve consumers?
White Space: An empty space for your business to fill in the industry and in the greater market.
Network: The group of people you know who can help you develop your business.
Business Plan: The outline you will write to help others understand your vision for your business, and how it works in the world.
B to B: Business to Business: relates to your target audience and how you make money
B to C: Business to Consumer: relates to your target audience and how you make money.
Spreadsheet: an Excel Worksheet that helps organize data you collect.