You will need a statement of purpose for many reasons. Don't have one? Just know: You will need to quickly explain your business model and what you stand for as an entrepreneur. You will need to discuss your objectives many times for many different reasons. Be prepared.
Consider a statement of purpose a summary of who you are, what you do, and how you can help your customers and clients. A statement of purpose usually appears in several different types of documents for your business.
Use your statement as an introduction and summary of your morals and plans as an organization.
You should pay attention to this summary, especially when you are in meetings that involve your organization's finances. Speak directly to people who are willing to take a monetary risk on your behalf.
You will want to be sure they are in full support of the mission and goals of your organization.
In doing so, you are making sure everyone is on the same page.
Heavily consider other people's time and the financial chance they are taking by investing in you. Your statement of purpose will allow for more transparency with your community. Your goals will be visible; this clear picture is key to sustainable relationships in business that involve money.
Think About What Message You'll Want to Send to Your Audience
Before you even begin to write your statement, you should consider and examine every facet of your message. Ask yourself:
- What will I be doing in my organization?
- What action statements should I make to convey this message?
- What will my message be to convey to your potential investors?
- Why is this message relevant or unique?
- Could this message come across in a way that could be misinterpreted or misleading?
After you have considered your message, you can start to write and produce your statement.
Begin to draft your statement using clear and concise language. The wording and phrasing you will be using should convey precisely what you will be doing in your organization.
The statement also serves as the foundation for your small business's brand and your company's promises to customers.
Become a Part of Your Community Through Your Statement
You may have started to write your mission statement, but there are a few key differences between a mission statement and a statement of purpose. For your most put-together and detailed presentation to your potential investors or partners, you will need both.
A mission statement aims to combine company strategies and procedures into the document. As a result, a statement of purpose isn't as comprehensive as a mission statement.
On the other hand, a statement of purpose concentrates mainly on the concise message that will lead your company in developing its business practices and procedures, rather than defining precisely what those methods will be when your company opens its doors.
Just because your small business's statement of purpose doesn't incorporate your company's operational strategies doesn't mean you should be ambiguous in your wording. For example, your company's mission statement shouldn't only be "making money." Instead, the statement of purpose should explain how your small business plans to succeed while establishing a presence in the local business community.
Think about your business canvas model and what you have outlined for your organization.
Think about the demand your small business meets for clients. This can help you write a statement of purpose that positions your organization strategically rather than functionally.
This permits your mission statement to focus on offering services to clients rather than just creating items.
In addition, a statement of purpose that focuses on a function gives your organization the ability to address customer needs.
An unrealistic ideal, such as the pursuit of perfection, isn't a strong statement of purpose. But how you plan to engage with your community and what you plan to do will strengthen your message.
Setting a significant objective for your small business is entirely acceptable. But it must also be achievable. This enables your management team to assess the viability of suggested company ideas and the effectiveness of current business tactics.
Consider the readability and editing of your statement, in addition to what it will be portraying to your audience. This is one of the most critical components of drafting a business plan. You will want to make sure you are telling the truth and not elaborating in places that could hinder the communication of your objectives.
Be Attentive in Your Editing and Your Passion Will Shine
You will want to check the grammar and spelling of the plan you have put together after carefully crafting its message.
To appear in your most professional manner, you will want to make sure your business plan and the model you base it on are correct in their grammar and syntax.
In your proposal, zoom in on what you want to say to prospective supporters or others that could potentially be involved in your company.
The rest will effectively come across in your passionate and delicate reasoning of why you are a worthwhile investment as an entrepreneur.