As a new entrepreneur, the values you and your company implement matter not just to you but to your future customers.
There is a passion you possess as an entrepreneur that drives you and it isn’t simply just to make money. That is important and vital to your future but being an entrepreneur is more than that. You are doing something you believe in. This is what I like to call the “value of you” as a business owner.
The “value of you” is the driving force behind your business — why you started. Maybe you believe you can create an exquisite restaurant with your skills and dedication. Maybe you have the creativity to develop amazing websites. Once you identify your reasons for starting your new adventure, you will be ready to pen the core values of the company in a mission statement.
There are many reasons people open their own businesses but most do it because they believe in themselves and their ability to be successful. I know companies that produce not only a product, but also produce a value. One such company is Tom’s Shoes. This company sells shoes to a consumer at a slightly higher price so that the company can afford to send shoes to people in third-world countries as a gift. This is part of its business model. I have so much respect for this company because they are creating a product, but more importantly, they are creating a value system.
The “value of you” outlines your goals as a company — how the company plans to reach those goals and what is important to the company. Life/work balance seems to be the buzzword and more and more companies are considering this when writing their mission statements.
Creating a core value is simple. Consider what you want your business known for in the marketplace. Many businesses talk about customer service being their distinguishing value, but as we have probably all experienced, it doesn’t always seem to be a priority to some businesses who profess this as their core value.
I have a client who is passionate about creating a modest clothing line. This isn’t a new idea, so how can this business stand out? Good design is essential but delving into the reasons why modesty is such an intrinsic part of her design may help her develop her mission statement.
Your company can and should have a mission statement that as an owner, you should believe in and embrace. This makes your company what it is and will be in the future.
Let Zions Bank’s Business Resource Center assist you with your business needs. Call us for a free appointment at 801-594-8245. We are open Monday through Friday from 9 a.m. to 5 p.m. Beth Holbrook can be reached at firstname.lastname@example.org