Mission and vision in business planning 1 3-11Document Transcript
What’s a Business Plan?<br />A Business Plan is simply the WHO, WHAT, WHERE, WHY, and HOW of your business. It can be highly formal and complex (SBA Guide), or a simple one-sheet outlining your business idea, like the one below.<br />In the WHO Section, you’ll include the following types of information: <br />WHO are all the people who will be involved in your business… including customers, suppliers, contacts, assistance, professionals, etc.<br />In the WHAT Section, you’ll include the following types of information: <br />What is your product or service – what will it do, what will it look like, etc.<br />In the WHERE Section, you’ll include the following types of information: <br />Where will you operate this business? Today? In 6 months? In 5 years?<br />Where will you find the all the people who might be involved?<br />In the WHY Section, you’ll include the following types of information:<br />Why does the customer want to buy your product/service and not someone else’s?<br />In the HOW Section, you’ll include the following types of information:<br />How do you plan to bring this product or service to existence?<br />Mission and Vision in Your Business Plan<br />Whether formal or informal, both Mission and Vision are critical components of your business plan.<br /> Traditional business plans include a Mission Statement, usually along the lines of “to serve the needs of shareholders and clients.” However, your Mission is really just your business “Why”: Why are you in business? Why are you willing to spend your days doing what you do?<br />Vision, in the traditional model, is usually covered in the Operations, Financial Projections, and Business Description sections of the plan. However, just like Mission, Vision is simple: it’s your business “What”: what do you do? What will it look like?<br />Without these two pieces you are like a flag flapping in the wind, just moving in any direction and reacting to opportunities that happen to come your way. When you know what you are about through your business and where you are going - you are more likely to get there! Instead of being reactive, you are proactive. You repel opportunities that don’t make sense and you attract opportunities that are in alignment with your vision.<br />Mission: Your Business “Why”<br />
Why did you start your business? Why are you starting your business?
What is your business/life passion?
What is the pain or the passion which your business fills?
Why is that important?
Keep drilling down, why that is important until you get to the “essence of your Life Mission”.