Not having a mission statement can be the nail in the coffin of a newly created Black business.
Why is it so important?
Well, if a business doesn't have a road map or guidelines, then they will not be able to chart it's course and know when it's off-track. Business owners have to make important decisions on a daily basis and having a set of core values and principles can help the business owner make the right decision. If a decision doesn't help you accomplish your main goal or objective, then it's probably not going to be the right decision.
Here are the 4 main reasons that I feel a Black business can't survive without a mission statement.
- A Business Without A Road Map Doesn't Know When It's Getting Off-Track - In order for a business owner to make a good decision, he has to know where he's going and why. (Daily decisions can make or break a business.)
- A Mission Statement Helps Communicate Your Brand To Your Potential Clients or Customers - What is your business about? Why should anyone choose your business over the next? These questions can be answered by communicating your mission statement on your website, business cards, commercials, etc.
- Having A Mission Statement Keeps Your Business Activities Consistent - It's very easy for your clients or customers to become distracted. They are bombarded by advertisements from your competitors. If you confuse them as to who you are, you can make it easier for them to decide to do business with other companies whose messaging is clear and consistent.
- It Can Help Your Employees Make Better Decisions When Interacting With Your Custormers and Vendors - Your employees can also make or break your business. Having clear values can help them make better decisions when interacting with your clients. If they can clearly see what's important to your business they will be able to help communicate to others during the course of the business day.
Well, there you have it. That's my opinion on why Black business owners can't afford to not have a mission statement. It's very important and shouldn't be taken lightly. It can make or break your entrepreneurial endeavors.
What's our Mission Statement?
I'm so glad you asked! Our mission statement is as follows:
BlackBusinessList.Com is dedicated to helping minority business people start, maintain, and grow viable businesses.
P.S. Please feel free to give your opinions on this article and share it with your business contacts.
Stephen Wicks, CEO, Founder