As you make a list, your core values should start to emerge.
Once you know your values, you can pen a mission statement.
Your statement should explain, in a convincing manner, why your business exists, and should be no longer than a single sentence.
As an example, Shopify’s mission statement is “Make commerce better for everyone.” It’s the “why” behind everything we do and clear enough that it needs no further explanation.
To define your values, think about all the people your company is accountable to, including owners, employees, suppliers, customers, and investors.
Now consider how you’d like to conduct business with each of them.
Here are some of the components you should include in your company overview: Some of these points are statements of fact, but others will require a bit more thought to define, especially when it comes to your business’s vision, mission, and values.
This is where you start getting to the core of why your business exists, what you hope to accomplish, and what you stand for.
Here’s what a couple of entrepreneurs said when we asked them how useful writing a business plan was for their business.
“We had a marketing background, but not much experience in the other functions needed to run a fashion ecommerce business, like operations, finance, production, and tech.