When you first start a new company, it is vitally important that you set up your mission statement. This is a statement that gives your company purpose. What are you starting this new company for? What do you want it to accomplish? What is the driving force behind this organization?

The reason you want to give this careful thought is because the mission statement is what will keep you focused. The better you’re able to define this statement, the easier it will be to focus on what’s important. The values of the company can also be included in the mission statement. When things are going really well, it will be a reminder of why you started the business in the first place. When things aren’t going so great, it will help you stay on track and accomplish your goals.

It’s also important to review your mission statement and update it accordingly. Hopefully, you gave your mission statement enough thought at the beginning where it is solid and there doesn’t need to be any changes made. However, there are certain times in a company’s life where it may need to be updated. If you brought on a new partner, changed your business model, or outgrew the original statement. These are all good times to go back and review your mission statement and it’s purpose.

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This entry was posted on Wednesday, January 16th, 2008 at 4:45 am and is filed under Strategy, Management, Leadership, Business Thinking, Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.