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A mission statement is crucial because it lets people know what the philosophy is behind your business. It gives people a place to learn what products your company sells, who the intended audience is, and the purpose behind what they do. Take a look at the benefits of having a solid company mission statement.
A Strong Mission Statement Helps With Planning
A strong mission statement helps a business plan for the future. It helps everyone maintain perspective in terms of the company’s ultimate goals so that better decisions are made. This is beneficial to all businesses, from a small business to a large corporation. When you consider plans for the future, you can use your mission statement as your guiding principle.
It Can Help Everyone Work Towards Common Goals
A business needs to have everyone working towards common goals. The mission statement will explain the owner’s vision for the company, and knowing this can help everyone stay focused and move towards a common goal. When lower-level employees have questions, they can focus on what the goals are for the company.
Having a Mission Statement Gives Clarity
If you don’t have a mission statement, writing it out can help you develop a vision for the direction that you want your company to go. As you write down your ideas, you will gain clarity and start to envision the path you want to pursue. This helps you develop a business plan that will be successful in the long run.
You Can Make Sure That You Target Your Audience Correctly
You want to target three groups with your mission statement: your customers, your employees, and your potential investors. Your customers will learn why they should buy your products, your employees will understand your values, and your potential investors will understand what you do and why they should invest in your business. Your mission statement should provide this information.
Having a solid mission statement will benefit your business because it will help you get your message out to your customers, employees and potential investors. It will serve as a blueprint for your company.
New generations have had a significant impact on the business world. With more young people interested in starting businesses, entrepreneurship is a hot topic for Generation Z. Young people are also transforming the business world, slowly but surely. They are creating more opportunities in addition to taking advantage of more opportunities. They are solving problems of the past and saying no to issues of the future.
They Are Creating More Opportunities for More People
Younger generations are ready to eliminate racism, sexism, homophobia, and transphobia from the business world. It was challenging to start a business as a woman or as a person of color in the past. Now, there are fewer glass ceilings in the world of entrepreneurship. People of all backgrounds are starting businesses. Small businesses run by young people are less likely to discriminate when they hire. In fact, many young entrepreneurs hire with an affirmative action mindset.
They Are Using Technology and Social Media
Young people also have more opportunities in entrepreneurship because they have more access to more technology. Social media is a fantastic tool for young entrepreneurs. Without spending any money, young business owners can start potentially viral marketing campaigns using social media platforms. Social media platforms allow young entrepreneurs to generate hype and reach people all over the world.
They Are Taking Advantage of Mentoring Opportunities
Community mentors have taken a real focus on the idea of youth entrepreneurship. They offer resources, knowledge, and unique opportunities for young people interested in business. Young entrepreneurs, in turn, have taken notice. They are not letting these opportunities go to waste. They recognize that previous generations did not have as many mentors early on in their lives.
They Are Standing Up to Their Employers
One reason that young people choose to start small businesses or work for small businesses is that large companies mistreat them. Many large corporations overwork and underpay young people, while their CEOs make millions, if not billions. Young people are ready for their piece of that pie. Instead of helping other people make money, they are prepared to make some of their own. They won’t accept working for pennies on the dollar.
As the end of the year approaches, many people are thinking about what to read next. We recommend these five books for entrepreneurs and business owners that will help you in your business this coming year. Whether you’re looking for inspiration or strategy, these entrepreneurial reads can be a great tool.
The Lean Startup – Eric Ries
The Lean Startup by Eric Ries is one of the most well-known books among entrepreneurs. This book examines how business owners can improve and innovate their startups through a series of experiments that help them create better products, services, and processes.
Zero To One – Peter Thiel & Blake Masters
Zero To One by Peter Thiel is a great read for entrepreneurs who want to learn about the future and how they can position their business in it. The book talks about what you should do when starting your own company, instead of just following conventions or emulating other companies’ strategies.
The Startup Owners Manual – Steve Blank & Bob Dorf
The Startup Owners Manual by Steve Blank and Bob Dorf is a great read for entrepreneurs who want to better understand how startups work. This book contains the most practical tools, templates, checklists, and worksheets that you can use when creating your own business from scratch.
Start With Why – Simon Sinek
A great read for entrepreneurs who want to better understand the most important factor in their business – WHY. This book helps you focus on what your company stands for and why it exists, instead of just focusing on selling products or services.
Think Twice: Harnessing The Power of Counterintuition – Micheal J. Mauboussin
One of the best books for entrepreneurs who want to read more practical and analytical business advice is Think Twice by Michael J. Mauboussin. In this book, you’ll learn how to think about your ideas in a new way that will help you better analyze them before making decisions or recommendations based on them.
Outliers – Malcolm Gladwell
Outliers by Malcolm Gladwell is an excellent read for entrepreneurs who want to learn more about how success works. This book talks about the important factors that contribute to people’s successes and why some of them are much more successful than others.
About Jason William Kumpf
Jason William Kumpf has worked in international business for over a decade. With involvement in global real estate sectors, the expat sector, ecommerce, and finance, it is safe to say that Jason William Kumpf is a well-rounded businessman. By having a hand in multiple sectors of various international and national markets, Jason has built an incredible network of global professionals that include recognizable Fortune 500 companies as well as young, burgeoning startups.
Jason William Kumpf is Co-Chairman for an international California Trade and Business Networked called Cal Trade. To expand his reach, he also serves on the Young Members Board for FIABCI International Real Estate Foundation, a French entity with active chapters in 48 different countries. In addition to these positions, Kumpf is the Director of Alliance Partnerships at USForex Inc which works toward creating better exchange rates for several international ecommerce markets. Similarly, Jason William Kumpf is the Director of Partnerships at OFX, also in the international currency exchange rate industry, working towards the acquiring the best exchange rates available for his international clients.
In addition to Jason’s work internationally in the foreign exchange markets, he has also taken a great interest in tech startups. He has a passion for taking an outside look at complex issues and creating tangible solutions to better the overall structure of a new company. Because of his extensive training in a wide range of industries, and because of his energetic and positive spirit, Jason William Kumpf is able to not only craft great business strategy but motivate his teams as well.
Having spent nearly 20 years studying abroad and working internationally, Jason William Kumpf has seen many sides of business, negotiating, and leadership. For this reason, he feels it is incredibly important that he pass on the information he’s gained over the years to those looking to grow within the international exchange rate markets. Having a strong leadership style is valuable, but having the ability to adapt that leadership style to meet the needs of any market you’re working in is a priceless skill that will take anyone with the right drive far in life. Jason William Kumpf hopes to inspire some of this leadership in a new generation of young and talented industry members.
As Jason William Kumpf enters the next stage of his career, he looks towards opening new doors for leadership training and business strategy opportunities. If you’re a young tech startup or just looking for some leadership style advice, Jason William Kumpf’s new blog will act as a great resource. Without sharing what works, progress cannot be made, and Jason William Kumpf is dedicated to not only continuing a successful career for himself, but to see this reality happen for others.
For updates on Jason William Kumpf, be sure to check back often as new blog content will be added regularly.