One of the most daunting parts of reaching out to potential investors, or even getting a business loan, can be making that all-important mission statement.
Sir Richard Branson, someone who knows a thing or two about startups, recently shared his thoughts on mission statements with Entrepreneur Magazine. The whole article is worth a read, but here are some of Sir Richard’s nuggets of wisdom:
Many mission statements are too vague. It's important to have specifics but not box yourself in.
Just as many are not only too long but engage in buzzword-laced incoherence.
It's important to know why your business is different and express that in the mission statement.
Try and fit your mission statement into a twitter post. This will force you to focus on what's most important.
These, of course, are the ideas from the man who created the Virgin empire. We'd love to hear what your ideas are on this subject! Please share your thoughts below.
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