A mission statement is a written document identifying the businesses’ primary reason for existence. It should convey the core values and the principals of the company. It should be reviewed with staff frequently to remind everyone of the chief goals of the company.
For every new business, the owner needs to define the customer before determining the final product or service. The customer will dictate the final product or service you will sell. Here is a case study of defining the customer.
I had the privilege of meeting a potential client in one of those business gatherings. I asked him the usual questions and he started to explain his business operation. Well, he was basically a landlord to a gaming function. When I become fascinated by the enterprise, I reoriented my questions to some specifics. Sure enough he charges some high end prices for the facilities. Man, I needed to figure out how he was able to do this. So with some prodding, he finally explained that his marketing approach pretty much gave him “A license to steal”.