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Introduction

Without a doubt, most entrepreneurs will share the same purpose for running a business – to make money and be independent. However, after this point, the purpose becomes very individualized and personal.

For instance, if you were to sit down with a good friend over a cup of coffee and explain what you want to do in terms of a business the conversation would likely start with from outlining the practical information (i.e. location, services, etc.) and move to sharing your deeper reasons on why you are providing something in particular. Perhaps, it’s to help people live better lives, or you want to share creative expressions through art to inspire, or there is a better and cheaper way to make or deliver a product.

It is these reasons that become your true vision for building your business, and what will motivate you to get up everyday to deliver it.

 

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Activities

In this lesson, we have you:

  • Determine your core values by drawing on your drivers.
  • Translate your values into a mission statement for your business.
  • Compose your long-term dream into a vision statement based on your highest ideals.

Core Values

You might think your personal vision and reasons to run your business will be entered into a business plan and not thought of again.

The opposite is true. As you develop, operate and maintain your business, lean on your values to motivate you to continue shaping everything that you do. Actually paste them near to where you work. There will be times when you will feel lost or frustrated and your values will help you to put situations into perspective.

Let’s start with an example. Below are the drivers and core values of our pseudo entrepreneur and a CORE VALUE worksheet. Click to download the worksheet and listen to the audio explanation of how to compose your values and mission statement.

Part 1: What are your Drivers and Core Values?

Follow the narration and fill out your answers in the worksheet to help develop your Core Values statement. Alternatively, use the the Notes tool below to record your answers. A template has already been set up for you!

Part 2: Vision & Mission Statements

Good job on defining what you really value. Acknowledging and acting from our true self makes living everyday so much sweeter. And customers and clients can’t get enough of authentic people and businesses.

Let’s talk about how to translate your deepest purposes into business statements. Review the mission and vision statement of Sarah below and download the MISSION & VISION STATEMENT worksheet below. Listen to the audio explanation of how to compose these statements.

Her core values:

No one deserves to be alone

It takes a village to get through life

Generosity is the highest form of love

Her mission statement:

My company will provide a space and network to care for dogs and people so they are not alone, develop healthy life practices, enjoy interactions with others, and give back in ways to make living daily easier for everyone.

Her vision statement:

My vision for my company is to develop spaces and services for dogs and people in multiple communities operated by likeminded people with big hearts, and to ensure that all homeless dogs in the area have a home.

Your Mission & Vision Statements

EXERCISE: Your Mission & Vision Statements

Are you having problems with the audio? Download the transcript

 

Part 3: Your Value Definitions

Record your core values in the table provided in the downloadable worksheet.  For each of your core values, write a definition, a statement of what it means to be successful in ‘living’ that value. You might think of one or several definitions of success for each core value.         

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PART 4: Your Mission Statement

Combine all the definitions of success and use them to create an overall statement.

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PART 5: Your Vision Statement

Write your vision statement in the space provided in the worksheet.

Checklist

Please use the checklist on the following page to make sure you have completed each step. It isn’t graded! Your Vision Statement, Mission Statement and Core Values will form part of your Business Overview section (not including Business Goals) which will be submitted for feedback at the end of this week.

Lesson 3: Your Business Vision

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