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When launching a startup, founders typically have an idea of what they want to achieve — a vision of what success will look like. During the strategic planning process, it’s important to put this vision into concrete terms. Not only does a vision statement clarify your thoughts, but it helps employees and stakeholders understand what the business has set out to accomplish. No matter what the business, a good mission and vision statement can inspire and motivate employees to make that vision a reality.

Whether it’s your first or fifth business, writing a compelling vision statement can be challenging. Below, we'll share how to write a vision statement — one that inspires your employees and positively impacts your business — and we'll look at a few vision statement examples to help you get started. 

What is a vision statement? 

A personal mission statement and personal vision statement can be used to guide our decision-making and help us stay focused to meet our long-term goals. Company statements are no different. A company vision statement is one of your most important business documents, along with your mission statement and core values. Although it’s easy to confuse the three, each one is unique and serves its own purpose. 

Core values are the organization’s long-term beliefs and principles that guide employee behavior. A mission statement deals with “why” an organization exists, while a vision statement outlines “what” that existence will eventually look like. A mission statement has to do with what the organization is doing in the present, while a vision statement focuses on the future. Mission statement examples include L’Oreal’s “Offering all women and men worldwide the best of cosmetics innovation in terms of quality, efficacy, and safety.” Conversely, Disney’s vision for itself is “to be one of the world’s leading producers and providers of entertainment and information.”

Primarily intended for internal employees and shareholders, a vision statement describes what an organization aspires to be. It helps to think of a vision statement as part roadmap, part inspiration. By outlining a long-term vision, rather than just short-term goals, a vision statement helps give the organization shape and purpose. 

Why it’s important to have a vision statement.

Despite the importance of a vision statement, many companies choose to operate without one. Some simply combine their mission and vision into one general document. Others do away with the idea altogether, thinking that corporate visions are vague statements that serve no actual purpose. 

Furthermore, studies show that highly aligned organizations grow revenue 58% faster, and are 72% more profitable than ones that are unaligned. If an organization doesn’t have a vision or a clear idea of what it wants, it will greatly limit its opportunities and have a difficult time inspiring employees to stay committed.  

How to write a vision statement.

Writing a vision statement may seem like a daunting task. It’s read by every employee and shareholder, and greatly impacts the success of the organization. And a vision statement takes time and thought. When done well, a vision statement can provide the encouragement your company needs to achieve its goals. To streamline the process, keep the following steps in mind while crafting your vision statement:

1. Determine who will help write your vision statement.

When starting out, it’s likely you and your partners will be responsible for writing your company’s vision statement. Once you start hiring, you can ask managers and employees to contribute additional insights. Interviewing a range of individuals will help create a vision statement that integrates and speaks directly to the entire organization. 

2. Project your goals for the future.

Imagine your company five or ten years down the line. The outcome you envision — your dream for the future, your success as a company — should be captured in the vision statement. Keep in mind that the statement should only include the vision, not an actual step-by-step plan for implementing solutions. 

The following questions can help you clarify your vision: 

• Where do we want the organization to go? 
• What can we realistically achieve?
• What problem does the organization intend to solve?
• What are the changes we believe the organization can make for individuals? For the industry? 
• How will things be different if the vision is realized?
• What phrases or keywords describe the type of organization and outcome we want?

3. Stick to the specifics.

A generic vision statement — one that sounds like it could apply to any company — will not be enough to motivate your team. Vision works best when it’s specific and describes an end goal only your organization can provide. Don’t be afraid to dream big. A lukewarm vision will only yield lukewarm results. So it’s important to be bold, and even risky, when writing your vision statement. 

4. Keep it short and simple.

While it should be specific, a vision statement shouldn’t be overly detailed. It should be concise. Start by jotting down all of your ideas, and then pare those down to the essentials. Keeping just one or two key points helps create a clear vision that’s easy for everyone to focus on and fulfill. Stay away from technical terms and jargon, and use the present tense. Rather than trying to write something catchy, aim for clarity. A great vision statement works best when it’s simple, memorable, and inspirational. 

Revisit your vision often as your company evolves.

A vision statement sets an organization’s sights on the future. However, once that future is reached, the vision needs to continue moving forward. Your vision statement is a living document, not a set of static sentences. It plays an important part in your overall strategic plan for a certain time frame. It should therefore be regularly updated to reflect your organization’s current purpose. 

Constantly communicate your vision.

Once you have a vision statement that articulates your end goal, make sure it’s clearly communicated. A vision is more effective when your entire organization takes it to heart. Commit the proper resources and time toward realizing the vision you’ve set. This can mean investing in seminars and training or launching a new product. It can also include offering the lowest possible prices, entering new markets, or exploring other areas of opportunity. A good way to help everyone align with a company's vision statement is by inviting them into the process. Ask for employees’ input, and suggest ways to incorporate the vision into their work. Then, make sure to recognize or reward individuals for their standout contributions.

Vision statement examples.

Sometimes, seeing what works for notable companies is just the inspiration you need to create your own vision statement. Below are some inspiring vision statements from today’s top companies:

Concept-based vision statements.

Some vision statements are based on concepts of what the company hopes to be or achieve in the future. This can be a general statement focused on customers, or a position the company wants to hold within the industry. Below are a few examples of concept-based vision statements:

• BBC: “To be the most creative organization in the world”
• Disney: “To make people happy.”
• Google: “To provide access to the world’s information in one click”
• IKEA: “To create a better everyday life for the many people”
• Instagram: “Capture and share the world’s moments”
• LinkedIn: "Create economic opportunity for every member of the global workforce”
• Microsoft: “To help people throughout the world realize their full potential”
• Nike: “To bring inspiration and innovation to every athlete in the world”
• Oxfam: “A just world without poverty”
• Shopify: “To make commerce better for everyone”
• Sony: "To be a company that inspires and fulfills your curiosity.”
• TED: “Spread ideas”
• Tesla: “To accelerate the world’s transition to sustainable energy”
• Uber: “We ignite opportunity by setting the world in motion”
• Whole Foods : “To nourish people and the planet.”

Quality-based vision statements.

Other common vision statements are focused on internal goals. These include the type of products and services the company hopes to provide as they grow. Quality-based vision statements can also relate to company culture and operations. The following are some examples from actual United States companies in different industries:

• Amazon: “Our vision is to be earth’s most customer-centric company, where customers can find and discover anything they might want to buy online.”
• Avon: “ To be the company that best understands and satisfies the product, service, and self-fulfillment needs of women—globally.”
• Ben & Jerry’s: “Making the best ice cream in the nicest possible way”
• Ford: “People working together as a lean, global enterprise to make people’s lives better through automotive and mobility leadership.” 
• IBM: “To be the world’s most successful and important information technology company. Successful in helping our customers apply technology to solve their problems. Successful in introducing this extraordinary technology to new customers. Important because we will continue to be the basic resource of much of what is invested in this industry.”
• McDonald’s: “To move with velocity to drive profitable growth and become an even better McDonald’s serving more customers delicious food each day around the world.”
• Nordstrom: “To serve our customers better, to always be relevant in their lives, and to form lifelong relationships”
• Starbucks: “To establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles while we grow.” 
• Warby Parker: “We believe that buying glasses should be easy and fun. It should leave you happy and good-looking, with money in your pocket. We also believe that everyone has the right to see.”
• Zappos: “To provide the best customer service possible. Deliver 'WOW' through service”

Keep a clear vision.

Even if it’s just a few sentences, a vision statement provides a lot of value. Not only does it outline the company’s desired outcome, but it can communicate intentions and hopes for the future. The best part is that a vision statement changes with your organization. When a vision is reached or updated, it’s time to create a new vision statement. This encourages everyone toward greater goals, and opens your company to more possibilities.

@media(min-width: 1024px){.css-hqxvux{max-width:100%;}} Ready to bring your vision to life? Brex can help.

15 Mission Statement Examples For Your Business

Updated: May 31, 2024, 8:28pm

Table of Contents

What is a mission statement, examples of mission statements, bottom line, frequently asked questions.

When buying new shoes, choosing a birthday gift or deciding what podcast to listen to, most of us reach for the same brands over and over. Why? Because in addition to offering quality products, they also have a compelling story that resonates with us and feels meaningful. That’s the power behind a strong mission statement—the ability to influence consumers to support certain brands because they feel a connection. We’re looking at some of the best mission statements and why they work so well.

A brand is the sum of how a product or business is perceived by those who experience it: customers, employees, investors and media. Creating a mission statement that explains the purpose of your business allows you to shape that perception and provide an almost instant connection. A mission statement not only explains what your company does, but also the why behind it.

How Do You Write a Mission Statement?

When creating an outline for your mission statement, there are four steps to follow, each of which will help you craft the strongest, clearest statement for sharing the “why” behind your business.

1. Explain what your business does In simple terms, write down exactly what your business does, offers or provides. Include how you solve a problem and why you bring value.

2. Describe how you do it Sourcing local supplies? Capturing customers’ demographics accurately? The next step is to list out your business processes and what makes them stand out from the competition.

3. Capture your why Think about why you started your business in the first place, and what impact you hope to make. Customers want to know the backstory for a brand and why they should feel swayed to support it.

4. Bring everything together Taking everything from the first three steps, find the common threads and link everything together. You want to have the most concise mission statement possible, so drop anything that feels out of place or doesn’t add value. There’s no hard and fast rule about the length of a mission statement, but sticking with one memorable phrase or sentence is usually the best option.

“To inspire, educate and outfit for a lifetime of outdoor adventure and stewardship.”

Recreational Equipment Incorporated (REI) is known for not only its high-quality outdoor products, but also for being a steward of the environment. The customer-centric co-op sums up its values and addresses its target audience, while also sharing what it sells.

2. American Express

“To become essential to our customers by providing differentiated products and services to help them achieve their aspirations.”

With a wide range of potential and current customers, American Express manages to help everyone feel included in its mission statement. It is offering products and services for all, no matter what your income level, elite status or dreams may be.

“To keep human connection at the heart of commerce.”

Etsy is all about less automation and more personalization. The global marketplace for creative products seeks to offer unique items and services that buyers can’t find anywhere else. Via its mission statement, the company is speaking directly to consumers who are seeking a personal experience.

4. audiochuck

“Creating top-of-the-line content that drives advocacy and change.”

With thousands of podcasts to choose from, having a mission that goes above and beyond profit is a smart way to differentiate yourself. The audiochuck brand shares that it is not only offering high-quality content, but that it also seeks to make a difference in the world.

5. Life is Good

“To spread the power of optimism.”

With its signature logo splashed all over shirts and hats, Life is Good wants its goals to be heard loud and clear. The quick phrase is all about spreading positivity, as evidenced not only through its mission statement, but also by the fun phrases and graphics that accompany its products.

“To inspire and develop the builders of tomorrow.”

With such a simple concept—small bricks that join together to form creations—LEGO wants its customers to know that it understands what they are hoping for. Building is for everyone and it is going to keep offering products that provoke imagination for builders of all ages.

7. Dunkin’ Donuts

“We strive to keep you at your best, and we remain loyal to you, your tastes and your time. That’s what America runs on.”

Consistency is key, especially when it comes to food and beverages. Dunkin’ makes it clear that it knows how people want their products to taste, how fast they need a coffee and that you can count on it to deliver on both counts.

8. Norwegian Cruise Line

“Provide exceptional vacation experiences, delivered by passionate team members committed to world-class hospitality and innovation.”

When investing in travel, consumers love knowing they will receive heightened service and extraordinary adventures. Norwegian’s mission statement assures travelers that they will get more than their money’s worth on an NCL cruise, and that it will be an experience like no other.

9. No Kid Hungry

“We believe that every child in the United States needs—and deserves—healthy food in order to grow and thrive.”

No Kid Hungry is straight and to the point, and that is exactly why its mission statement works so well. “They believe that every child deserves access to healthy food? I do too!” Speaking directly to people’s beliefs makes them all the more likely to click on the donation button.

“Spread ideas, foster community and create impact.”

TED smartly integrates several keywords that instantly draw people in and motivate them to learn more about the company. It is directing its statement towards people who are curious to discover, hope to connect with other like-minded individuals and activate change.

11. The Hartford

“Underwriting human achievement.”

With an excellent play on words, the property and casualty insurance group establishes what it does, both literally and figuratively. The Hartford wants its customers to achieve greatness, and it is here to support them through both services and loyalty.

12. Warby Parker

“To offer designer eyewear at a revolutionary price while leading the way for socially conscious businesses.”

Want cool glasses at a great price? Also want to support a business that is socially conscious? Warby Parker checks both boxes with a mission statement that sums up its desire to be a profitable business that offers customers quality products while simultaneously seeking to do good.

“To offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.”

IKEA’s mission statement doesn’t bother with lofty goals or veiled innuendos. It offers completely honest, transparent verbiage that outlines exactly what it does and whom it does it for.

“Maintaining a global viewpoint, we are dedicated to supplying products of the highest quality, yet at a reasonable price for worldwide customer satisfaction.”

Honda makes it crystal clear that it is a global company, offering products for everyone, no matter where they live. It also wants you to know that it understands that high quality doesn’t always necessarily mean high prices, so you should definitely consider it when looking for your next vehicle.

15. LG Electronics

“We wish to maintain our hard-earned reputation for bringing added value to the lives of consumers.”

LG wants customers to know two things right away: it has a solid reputation and its products add value to your life. Sharing a mission statement that manages to brag a little while offering peace of mind at the same time is a wise strategy to help the company stand out.

Mission statements are an important part of a business’s strategic planning process, as they provide a summation of the “why” behind a brand. When sitting down to create one, companies need to be thoughtful not only about what they include, but also about what they don’t mention. With more choices than ever, consumers desperately want to feel a connection with the business they are supporting. The best mission statements help establish that connection by sharing why they exist and how their offerings can help.

What is a mission statement?

A mission statement uses anywhere from a few words to a full paragraph to describe not only what your company does, but also why and how. It provides a way to connect quickly and authentically with customers, employees, investors and the media.

How do you write a mission statement?

When writing a mission statement, start by writing down what your business does, as well as your why and your how. Narrow the focus as much as possible to get rid of the extra fluff that isn’t necessary and doesn’t help draw attention.

How is a brand’s mission statement different from its values?

Mission statements focus on explaining the “why,” while a brand’s values describe what the business believes in and stands for.

Should a mission statement be included in an executive summary?

The executive summary is found at the start of the business plan, and one of its first components should be the mission statement, where you provide a few sentences on what the company’s purpose is. Read our guide for some assistance in creating a comprehensive executive summary for your business plan .

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How To Create A Mission, Vision, And Values Statement

Estimated reading time: 5 minutes

I was recently asked why a business needs a mission, vision, and values statement.

My response was that a mission, vision, and values statement is a tool to help an organization accomplish what it has set out to do and helps provide a framework for strategy, focus, and decision-making .

A Vision statement describes the ideal future state of the organization.  It articulates what the organization is trying to accomplish.

Vision Statement Example

“ABC Auto Repair will be the premiere auto shop in the metropolitan area by providing extraordinary customer service and high-quality auto repair that exceeds all competition.”

A Mission statement describes why the organization exists and why it does what it does.

Mission Statement Example

“ABC Auto Repair exists to help its customers care for and extend the life of their automobile investments.”

A Values statement describes and lists the fundamental values and principles that the organization operates by.

Values Statement Example

“ABC Auto Repair operates by the following guiding principles:   Honesty, Integrity, Customer Service, Quality, Diversity, and Innovation.”

Some organizations write paragraphs describing their vision.

But I think the shorter the statement, the more likely employees will be able to absorb, memorize, and ideally explain it to others.

Employees Need To Understand

Employees should have a good understanding of what the business is trying to accomplish and why it does what it does.

This contributes to high levels of  employee engagement and employees who provide excellent customer service .

Every organization needs to understand where it is going before it can develop a strategic plan and map out steps to get there!

7 Steps to Creating a Mission, Vision, and Values Statement

1. gather board level leadership.

If you don’t have a formal board, pull together an advisory team .

If you are a small business, pull in anyone who has helped you get to where you are in an advisory capacity.

Writing a vision, mission, and values statement should be an exercise that is done at the board level – with some senior-level employees.

This can be done in a retreat setting, such as a conference room of a hotel or the back room of a restaurant.

The goal is to create an environment insulated from distractions and interruptions.

2. Identify an Objective Facilitator

If the organization has strong leadership , there may be someone at the board level who can facilitate the visioning session.

Whether the facilitator is a member of the staff or is contracted through a third party, the facilitator’s role is to help drive the process without influencing the content.

An experienced facilitator will know how to do this.

3. Dream As a Group

A visioning session is a time for dreaming.

Work with flip charts or whiteboards to get the creative juices going and provide colorful visuals that help spark thoughts and ideas.

Divide into groups of 3-4 people, provide each group with a flip chart, and have them discuss and answer the following questions:

Note: There should be simultaneous groups if there is more than one group.

• Who are we?
• What do we want this organization to look like in 5, or 10 years?
• Where do we want to be 1, 5, or 10 years down the road?
• Create a headline for a newspaper about the organization ten years from now. What would it say?

This exercise should take 20-30 minutes.

4. Share Ideas

After 30 minutes, ask all groups to share the thoughts and ideas they came up with.

Use the larger group to pick the best thoughts and ideas from each of the smaller groups.

Write the collective thoughts and words on a new flip chart.

Ask all participants to add, subtract, and formalize the sentence structure of the statement.

5. Examine the Statement

After the group drafts a couple of sentences, read them out loud to the entire group again.

Next, test the sentences to see if the entire group agrees that the statement reflects the organization and describes an ideal future state.

Make sure the statement is descriptive enough and is measurable to determine progress toward the vision.

6. Clarify the Mission

After the vision statement is written, go through a similar exercise to define the organization’s mission.

Remember, a mission statement describes “why” the organization exists.

Vision and mission statements should be used for decision-making to reflect the importance of what the business is trying to accomplish.

Break into small groups again and spend another 20-30 minutes brainstorming words that describe why the organization exists.

Once all the groups have their ideas down, ask them to present them to the other groups.

Using a flip chart, combine all of the ideas and, as a group, try to create a short phrase that is descriptive of why the organization exists.

The phrase will get molded by the group, and after it is in a final state, read it out loud one last time so the entire group agrees that it reflects why the organization exists.

7. Define Organizational Values

Once a vision and mission statement is drafted, break into groups once again and allow another 20 minutes or so to come up with a list of values.

These will become the shared values that the organization operates by.

As the groups come up with their lists, ask them again to present their ideas to the larger group and then combine and agree on one list.

The final list should ideally be 5-10 words and should be easy for people to memorize.

You did it!

You now have an articulated Mission, Vision, and Values Statement.

Next, you will have it printed and displayed in your business so your customers and employees can see your priorities and what you are trying to accomplish!

Many organizations don’t have a defined vision, mission, and values statement because they don’t know how to do it, and the process scares them.

However, if you can get the right people in the room and have a trained facilitator, it can be done in a few short hours.

Has your organization developed a Vision, Mission, and Values statement?

Patricia Lotich, MBA is a Certified Manager of Quality and Organizational Excellence through the American Society for Quality. She has a driving passion to help small businesses, nonprofits and churches fulfill their mission by managing their resources of - people, time and money.

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How to Write a Business Plan Mission and Vision Statement [Sample Template]

Are you currently writing a business plan? If YES, here’s an in-depth guide and sample template on how to write a workable mission & vision statement for a business. A vision and mission statement are some of the most important requisite for business success and sustainability, but unfortunately, most entrepreneurs and small business owners run their business without these two thing out of ignorance.

What is a Mission and Vision Statement?

A mission and vision statement ( more commonly called a mission statement or a vision statement ) is a brief sentence that declares the goals that a business plans to achieve in the future. Like a compass guides a ship, it guides a business to success by providing continuously inspiring its stakeholders in their daily operations and strategic moves.

A mission statement helps you plan your business effectively. It provides the destination for your journey to business success. Of course, without a destination, you can’t plan a route. Before we discuss the steps involved in developing a mission statement for your business, let’s look at the components of a mission statement and why you really need a mission statement for your business.

Today, I will be sharing with you an underground secret to building a business from scratch. This secret is one of the contributing factors to the success of any business; yet, it’s often ignored. This secret is nothing more than a “ Business Mission Statement. ”

“The thing I really care about is the mission; making the world open.” – Mark Zuckerberg

The importance of a mission statement can never be over emphasized. I have seen so many startups without a mission; even some established firms also make the mistake of operating without a mission.

“Being an entrepreneur, I have come to realize that all successful businesses are driven by three fundamentals. One is the cash flow, two is the team and three is the mission. Of these three, the mission is the most important.” – Ajaero Tony Martins

Now what has a mission statement got to do with building a business? What’s the impact of a mission statement on an entrepreneur undergoing the entrepreneurial process? Is a mission statement a source of ? While I am not going to answer these questions directly, the following points will help you further understand why you need to develop a mission statement for your business?

Why Your Business needs a Mission Statement

1. The mission is the foundation on which your business will be built. It’s the true purpose of your business and that purpose is reflected in the mission statement. Without a strong mission statement, you don’t have a true business. All you have is just a profit making venture that will soon be wiped out with time.

“To turn really interesting ideas and fledging ideas into a company that can continue to innovate for years, it requires a lot of disciplines.” – Steve Jobs

2. The entrepreneurial spirit is found in the mission statement. When I look at the mission statement of any business, I get a peep into the life of the entrepreneur that founded that business. The entrepreneurial spirit is what drives the entrepreneur forward. If the mission is strong, your spirit will be strong towards the pursuit of your goal.

“The IKEA spirit is strong and living reality. Simplicity in our behavior gives us strength. Simplicity and humbleness characterize us in our relations with each others, our suppliers and our customers.” – Ingvar Kamprad

3. Your mission statement is the bond binding you, your team, employees and your customers to the business. Take away the mission and other key elements will fall apart. Your mission also has the power to attract other like-minded individuals and entities to your cause. The reason is that people with the same mission align together; more like birds of the same feather flocking together.

4. With a strong mission, your business will weather any storm. Take a look at businesses that has been around for over 100 years and you will see businesses with a strong mission. As an example:

• General Electric has stood the test of time because the spirit of its founder “ Thomas Edison ” continues to guide the company through its mission.
• Henry Ford’s mission statement was: “ To democratize the automobile ” and that mission has kept the Ford Motor Company going.
• Aliko Dangote’s mission statement goes: “ Providing your basic need ” and this mission drives the Dangote Group to dominate the commodities market of
• The Rich Dad Company; founded by Robert Kiyosaki keeps waxing strong because of its mission, which is “ To elevate the financial well being of humanity .”

By contrast; I have come to observe that when a company forgets its mission, its starts to lose its relevance. The bond holding the business will be broken and good customers will leave, employees will resign and the business will dwindle. Just as the case of the Dot com burst, many profitable Dot com companies went under because they forgot their mission.

3 Components of a Mission and Vision Statement

1.  a vision.

This, simply put, states the impact you envision your business having on the world in years to come. You can have more than a single statement in here, but don’t go beyond three. Gloss it over to make sure anyone who reads it feels at least one of inspiration, hope, commitment, and awe.

In addition, your vision statement must be compelling, detailed, and reflective of the intended end outcome. Avoid one that is bland, generic, uninspiring, or unreasonable. An example of a good vision statement is that of Amazon:

“Our vision is to be earth’s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.”

2.  A mission statement

This is a brief statement that states the important goal or purpose that your business is poised to achieve. In other words, it’s a single sentence stating why your business exists in a convincing manner. Keep your mission statement specific and concise ( the shorter it is, the better ), make it connect with both employees and stakeholders, and make it highlight your value proposition. Don’t make it too long, generic, or confusing. An example of a good mission statement is that of Nike:

“To bring inspiration and innovation to every athlete in the world.”

Here’s another example of a mission statement:

“To contribute to development of value-added agricultural businesses . ”

3. Core values

These outline the principles and values that the stakeholders in a business will follow in their bid to achieve their vision. They also specify the bounds or limits that the stakeholders must watch while trying to actualize the mission. The following are examples of core values:

• Respect and protect the environment
• Offer high quality products that are safe for consumers
• Meet the ever-changing needs of consumers
• Practice highly ethical business standards

If your business is going to stand the test of time, then you will have to build it upon a strong mission. With the above in mind, let’s now look at the steps involved in developing a mission and visions statement.

How to Write a Mission and Vision Statement for a Business Plan

Please bear in mind that you are learning as much of yourself each day as you are about your customer. So, don’t feel that anything you state here is etched in stone and cannot be changed. The more you understand your customer and the market, the more necessary it would become for you to shift grounds accordingly. But you need to state here what you have to offer at the moment. This will be a starting point for any changes you may need to effect later ( as your business grows ).

1.  Sit down in a quiet spot and reflect upon your thoughts

Ask yourself what drives you forward? What keeps you motivated? When you have figured out the answer to these questions, put it down in writing.

2.  Ask yourself how best you can serve your customers

What will your business stand for in the heart of your customers? What will be the ultimate benefit your customers can derive from your business? When you figure the answer to these questions out, put it down in writing.

3. Brainstorm for your vision statement

The vision is the most important component of your mission statement. Simply put, this is a picture or idea of what you plan to achieve in future . A vision statement is always concise and easy to remember, and for this reason, every stakeholder in a business can easily focus on it; and their decisions and activities are directed towards achieving the vision. Here is a good example of a vision statement:

“ Creating a vibrant rural economy driven by value-added agriculture. “

Once you get one down, then getting other components becomes very easy. To find the best vision statement for your business, simply ask yourself the question, “Why does this business exist?” Present answers from various angles, and you will find your mission statement among them.

4.  Get down your mission statement

As stated earlier, your mission statement is that action sentence that describes how you will achieve your vision. Finding this is much easier once you have found your vision statement. If you are stuck, just do it this way: If your vision is “A diabetes-free society” , then simply add the word “ To ” and another suitable verb to convert it to an action sentence. And there you will have your mission statement.

Using the same vision, you will get “To bring about a diabetes-free society .” You can go further by tweaking it, so that you will have something like: “To manufacture products that can cure diabetes effectively and permanently.” You get it now?

5.  List your core values

First off, you need to clarify your values. This means taking into account all the various stakeholders that your business is ( or will be ) accountable to—including investors, customers, employees, and suppliers. Now, consider how you would like to ideally conduct business with each of these stakeholders. Start making a list and your core values should start to emerge.

These are the various steps you will follow in your quest to achieve your vision. Brainstorm for as many as possible, list them down, and the prune your list down to as few as possible without leaving out any important ones. Now, let’s look at some additional tips that you will need to keep in mind when preparing your mission and vision statement.

4 Extra Success Tips for Developing a Business Plan Mission and Vision Statement

• Your mission statement must be brief and simple. Being succinct as demanded by a mission statement isn’t easy. And you may need to go through several hours of tweaking and editing before arriving at the perfect sentence. Though short, your mission statement must capture the very essence of what your business plans to achieve. The fewer words the better. Use just only the few words needed to pass the message without leaving out any vital details.
• Your mission statement must be in tune with your vision, and both sentences must blend to form a single thought.
• There’s no rule that says you must get it perfectly at once. You can keep review your mission statement later, if necessary.
• Your mission and vision statements must give the reader an insight, a covert one, at least into what you offer. This is more important if the name of your business doesn’t suggest what products or services you’re offering.

If you follow the guidelines I shared in this post, you will prepare a perfect vision and mission statement that will drive your business to success. Now I want you to know that no one can help you develop a mission statement. You alone can develop your mission and as a final note, it’s worthwhile you know that of the entire business system, the mission is the most important.

• Go to Chapter 8 Part C: Writing your Business Plans Goals and Objectives
• Go Back to Chapter 7 : H ow to Write a Business Plan Executive Summary
• Go Back to Introduction and Table of Content

More on Business Plans

How to Write a Mission Statement + 10 Great Examples

17 min. read

Updated May 10, 2024

Why is an effective mission statement so valuable? It’s worth taking a minute to ask what it is about certain brands that keep us coming back. What is it about them that makes us spend more time, money, or effort over other options? Is it the price? Maybe the convenience? Or is it something more?

The brands and businesses that we really connect with do more than just supply a product or service . They showcase a purpose, a mission that we can get behind. This can be displayed in how they interact with customers, the organizations and communities they support, and even the way they develop their products.

And there’s no better way for a business owner to showcase this purpose, than through a well-written mission statement.

On this page

• What is a mission statement?

Mission statement or vision statement?

• Why write a mission statement?
• How to write a great mission statement
• 10 Examples of Great Mission Statements

A mission statement is a simple action-oriented statement that explains your company’s purpose. It summarizes what your company does for customers, employees, and owners, and typically includes general descriptions of your organization, its core function, and its goals. In short, you’re explaining what you do and why you do it within a mission statement.

Depending on the focus of your business, your mission statement may be even broader. Explaining not just how you serve your customers and employees, but your community and the world at large. Some businesses even opt to separate this larger aspiration into what’s known as a vision statement.

A vision statement is exactly what it sounds like. It’s a vision for the direction of your company and what it aspires to be. 

These two statements aren’t really interchangeable. They both reflect the purpose and goals of your business, but serve completely different purposes. Your mission statement is the roadmap to achieve your vision. Your vision statement is a much broader picture of the aspirations for your business. 

These can be completely separate written statements for your business, or they can be combined into a more comprehensive mission statement. Having all three does allow you to utilize them for different business purposes, so it may be worth developing variations over time.

Speaking of variations, it’s important to note that your mission statement will likely evolve over time as your business grows and changes. So, don’t be afraid to make adjustments when it seems necessary, and avoid looking for the perfect version of your mission statement. 

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I’ve had a 30-year love-hate relationship with mission statements. I’ve read thousands. I love it when a mission statement defines a business so well that it feels like strategy—which does happen—and I hate it when a mission statement is generic, stale, and completely useless. 

Just because a traditional business plan often includes a mission statement isn’t a reason to do one. If it’s not going to be useful for you and help guide your business, don’t bother. The vast majority of the mission statements are just meaningless hype that could be used to describe any business.

Don’t fall into the trap of writing a mission statement just because some checklist or expert said you had to. There are actually sites that poke fun at how most mission statements use vague, high-sounding phrases to say nothing. You should write a mission statement if you want to add clarity to your business goals and you want to get your employees, investors, and customers to understand what your organization is all about. 

Developing your company’s first mission statement, or writing a new or revised one, is your opportunity to define the company’s goals, ethics, culture, and norms for decision-making. The daily routine of business gets in the way sometimes, and a quick refresh with the mission statement helps you take a step back and remember what’s most important: the organization has a purpose. 

So how do you make a useful mission statement? Over the decades I’ve spent reading, writing, and evaluating business plans , I’ve come up with a process for developing a useful mission statement, and it boils down to these five steps.

1. Start with a market-defining story

A really good market-defining story explains the need, or the want, or—if you like jargon—the so-called “why to buy.” It defines the target customer or “buyer persona .” And it defines how your business is different from most others, or even unique. It simplifies thinking about what a business isn’t, what it doesn’t do.

Imagine a real person making the actual decision to buy what you sell. Why do they want it? How did they find your business? What does it do for them? The more concrete the story, the better. And keep that in mind for the actual mission statement wording: “The more concrete, the better.”

This isn’t literally part of the mission statement. Rather, it’s an important thing to have in your head while you write the mission statement. It’s in the background, between the words. If you’re having trouble getting started, make a quick list of what your company does and doesn’t do.

2. Define what your business does for its customers

Start your mission statement with the good you do. Use your market-defining story to suss out whatever it is that makes your business special for your target customer .

Don’t undervalue your business: You don’t have to cure cancer or stop global climate change to be doing good. Offering trustworthy auto repair, for example, narrowed down to your specialty in your neighborhood with your unique policies, is doing something good. So is offering excellent slow food in your neighborhood, with emphasis on organic and local, at a price premium.

This is a part of your mission statement, and a pretty crucial part at that—write it down.

If your business is good for the world, incorporate that here too. But claims about being good for the world need to be meaningful, and distinguishable from all the other businesses. Add the words “clean” or “green” if that’s really true and you keep to it rigorously. Don’t just say it, especially if it isn’t important or always true.

For example, Apple Computer’s 2020 mission statement is:

“Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s four software platforms—iOS, macOS, watchOS, and tvOS—provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it..”

That one obviously passes the test of defining the company with flying colors. Nobody could mistake that mission for generic hype. And it’s an interesting change from the early mission as defined by founder Steve Jobs:

“To make a contribution to the world by making tools for the mind that advance humankind.”

Ikea, on the other hand, starts its mission statement with something that could be any company anywhere. “Our vision is to create a better everyday life for the [sic] many people.” To its credit, it goes on to define a “rest of the mission” that could only be IKEA:

“We make this possible by offering a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them.”

And note, in this mission statement, how Sweetgreen incorporates a world vision into a product-oriented mission statement:

“Founded in 2007, Sweetgreen is a destination for delicious food that’s both healthy for you and aligned with your values. We source local and organic ingredients from farmers we know and partners we trust, supporting our communities, and creating meaningful relationships with those around us. We exist to create experiences where passion and purpose come together.”

3. Define what your business does for its employees

Good businesses are good for their employees too or they don’t last. Keeping employees is better for the bottom line than turnover. Company culture matters. Rewarding and motivating people matters. A mission statement can define what your business offers its employees.

My recommendation is that you don’t simply assert how the business is good for employees—you define it here and then forever after make it true.

Qualities like fairness, diversity, respect for ideas and creativity, training, tools, empowerment, and the like, actually really matter. However, since every business in existence at least says that it prioritizes those things, strive for a differentiator and a way to make the general goals feel more concrete and specific.

Don’t worry about being fully unique

With this part of the mission statement, there’s a built-in dilemma. On the one hand, it’s good for everybody involved to use the mission statement to establish what you want for employees in your business. On the other hand, it’s hard to do that without falling into the trap of saying what every other business says.

Stating that you value fair compensation, room to grow, training, a healthy, creative work environment, and respect for diversity is probably a good idea, even if that part of your mission statement isn’t unique. That’s because the mission statement can serve as a reminder—for owners, supervisors, and workers—and as a lever for self-enforcement.

If you have a special view on your relationship with employees, write it into the mission statement. If your business is friendly to families, or to remote virtual workplaces, put that into your mission.

You may not need to focus on employees

And this is rare in mission statements. The vast majority are focused on messaging for customers. My recommendation here is not the norm. I include it because it’s good practice, even though not common.

While I consulted for Apple Computer, for example, that business differentiated its goals of training and empowering employees by making a point of bringing in very high-quality educators and presenters to help employees’ business expertise grow. That was part of the culture and, to my mind, part of the mission; but it wasn’t part of the mission statement. It could have been.

American Express, however, includes the team in its mission:

“We have a mission to be the world’s most respected service brand. To do this, we have established a culture that supports our team members, so they can provide exceptional service to our customers.”

4. Add what the business does for its owners

In business school, they taught us that the mission of management is to enhance the value of the stock. And shares of stock are ownership. Some would say that it goes without saying that a business exists to enhance the financial position of its owners, and maybe it does. However, only a small subset of all businesses are about the business buzzwords of “share value” and “return on investment.”

In the early years of my business, I wanted peace of mind about cash flow more than I wanted growth, and I wanted growth more than I wanted profits. So I wrote that into my mission statement. And at one point I realized I was also building a business that was a place where I was happy to be working, with people I wanted to work with; so I wrote that into my mission statement, too.

However, this element too, as with the suggestion about including employees, is unusual. Few mission statements do it. That’s understandable, since most mission statements are outward-facing only, aimed at customers and nobody else.

Still, some of the best mission statements incorporate a much broader sense of mission that includes, or at least implies, the mission of ownership.

Warby Parker, an eyewear company, does a great job at voicing a higher mission that includes customers, employees, and owners.

“Warby Parker was founded with a rebellious spirit and a lofty objective: to offer designer eyewear at a revolutionary price while leading the way for socially-conscious business.”

5. Discuss, digest, cut, polish, review, and revise

Good mission statements serve multiple functions, define objectives, and live for a long time. So, edit. This step is worth it.

Start by considering developing a full mission statement for internal use and using a customer-facing subset for general publication. That’s common. Many companies have segmented mission statements, with sections set aside and categorized by type or goal. Use bullet points or sections if that works for you. Part of the reason people confuse mission with mantra and vision is that many businesses use them together, and many others also redefine them to fit their context. So what a company does for customers is often called vision, despite the formal definition.

Remember, form follows function, in mission statements, as in all business writing. Make it work for your business. Or don’t do it at all. If you want to call it a vision, and that works for employees and customers, then do that.

Cut out general terms

As you edit, keep a sharp eye out for the buzzwords and hype that everybody claims. Cut as much as you can that doesn’t apply specifically to your business, except for the occasional special elements that—unique or not—can serve as long-term rules and reminders. Unique itself, the word, means literally, the only one in the world. Use it sparingly. Phrases such as “being the best possible,” “world-class,” and “great customer service” mean little because everybody uses them. Having great customer service is way harder than writing that into a mission statement.

Read other companies’ mission statements, but write a statement that is about you and not some other company. Make sure you actually believe in what you’re writing—your customers and your employees will soon spot a lie.

Then, listen. Show drafts to others, ask their opinions and really listen. Don’t argue, don’t convince them, just listen. And then edit again.

And, for the rest of your business’s life, review and revise it as needed. As with everything in a business plan, your mission statement should never get written in stone, and, much less, stashed in a drawer. Use it or lose it. Review and revise as necessary, because change is constant.

• Great Mission Statements: 10 Examples

If you’re looking for some inspiration to get you started on your own mission statement, here are a few of my favorites.

1. Southwest Airlines

“The mission of Southwest Airlines is dedication to the highest quality of customer service delivered with a sense of warmth, friendliness, individual pride, and company spirit.”

What’s most interesting about Southwest’s mission statement is that they don’t mention anything about getting from point A to point B. Their mission is all about how they differentiate what, these days, can be seen as a commodity experience. They also focus on their own employees and the “spirit of the company”, not just the customer experience.

2. Urban Outfitters

“A lifestyle retailer dedicated to inspiring customers through a unique combination of product, creativity and cultural understanding. Founded in 1970 in a small space across the street from the University of Pennsylvania, Urban Outfitters now operates over 200 stores in the United States, Canada, and Europe, offering experiential retail environments and a well-curated mix of women’s, men’s, accessories and home product assortments.”

Urban Outfitters focuses on the experience that they deliver and the focus on what they do. Their mission drives what their stores look like and what their goal is: to inspire. They also nod to their heritage of starting small and growing.

“At Recreational Equipment, Inc. (REI) we believe a life outdoors is a life well-lived. We believe that it’s in the wild, untamed and natural places that we find our best selves, so our purpose is to awaken a lifelong love of the outdoors, for all.”

REI’s mission focuses mostly on what it wants to do for its customers, but hidden in the mission statement is a mission to preserve the environment as well. Their focus on “getting outside” is what creates a connection between them and their customers.

4. Starbucks

“To inspire and nurture the human spirit – one person, one cup, and one neighborhood at a time.”

Starbucks expands on its mission statement by stating its core values. This is really an extension of the mission statement and explains how they focus on their customers, how they grow their company, and how they work with employees. You can read their values here .

5. Walgreens

“Walgreens’ mission is to be America’s most-loved pharmacy-led health, well-being, and beauty retailer. Its purpose is to champion everyone’s right to be happy and healthy.”

Walgreen’s mission really defines their goals: what they want to achieve and in what product categories they want to achieve it in. They also bring in their broader purpose when they talk about “everyone’s right to be happy and healthy.”

“Make work-life simpler, more pleasant, and more productive.”

While Slack’s mission statement is short, it implies a lot. “Work” doesn’t just mean their customer’s work, it means their own work at their company. Their mission statement serves them both internally and externally.

7. The Coca Cola Company

“Refresh the world. Make a difference.”

Coca Cola takes a slightly different approach with a statement of purpose and then a vision statement. Their purpose is essentially their mission statement and says a lot for being so short. They want to refresh people in both body and spirit while making a positive impact on the world. Their vision also implies their goal of serving the entire world’s population which hits on their corporate and shareholder goals.

8. Patagonia

“We’re in business to save our home planet.”

Another short mission statement that says so much more than you would think at first glance. First and foremost, Patagonia doesn’t say that they are a non-profit – they state that they’re a business. And, this implies that they need to be a strong, healthy business to meet their goal of saving the planet. Their mission applies to their employees, their customers, their products, and their activism.

9. charity: water

“charity: water is a nonprofit organization bringing clean and safe drinking water to people in developing countries.”

charity: water’s mission statement is clear and to the point – it simply describes what it does and who it does it for. For most non-profit mission statements, this is enough.

 10. Asana

“Asana’s mission is to help humanity thrive by enabling the world’s teams to work together effortlessly.”

Similar to other mission statements, Asana blends a message about what they do with a higher goal of enhancing the world outside of their company. Yet, they still hint at their target market and goals of being a world-wide company, thus improving the lives of their employees and shareholders.

Tim Berry is the founder and chairman of Palo Alto Software , a co-founder of Borland International, and a recognized expert in business planning. He has an MBA from Stanford and degrees with honors from the University of Oregon and the University of Notre Dame. Today, Tim dedicates most of his time to blogging, teaching and evangelizing for business planning.

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Mission, Vision, and Values Template and Examples

Many of us use the mission and vision interchangeably. However, the two statements are distinctly different. The Mission Statement focuses on where the organization is right now. In contrast, the Vision Statement creates a picture of the organization’s future.

The values of your organization, though, are probably more important than even the vision and mission. These values are the criteria that you use to make decisions within your organization.

If you wanted to take a trip in a car, the vision would be the destination. The mission would be the vehicle. Finally, the values would be the directions or the road map to get there. So, you can see that each of the three is important to get to the end goal. Without the destination, we have no way of knowing if we are moving toward our goal. In addition, without the right vehicle, the journey will be more challenging. Then, of course, without a map, your journey can have a lot of wasted effort.

Create a Valuable Vision Statement First When You Use the Mission, Vision, Values Template.

Before working on the mission and values, start with creating a great vision statement. It is easier to do everything else if you have a crystal clear purpose of the organization and a picture of the destination.

First, though, let’s talk about why you need a great vision for the future. In every organization’s life cycle (every person as well,) there are two forces at play. The past is like a tree. The past includes all of an organization’s history including both successes and failures. The older the organization, the more rings that it has and the deeper the roots. Picture your organization attached to this tree with bungee cords.

As a manager of the organization, you may try to make positive changes. Realize, though, that you are in a constant battle with the past. Your team has certain habits that have been developed over time. The organization also has processes in place that make change more difficult as well. So when a new manager comes in with lots of enthusiasm, the group may experience a quick burst of growth. However, the further the group moves from the status quo, the more difficult the journey.

Once the effort diminishes, the organization will likely move backward — into the past.

Your vision statement, though, adds a bungee cord that pulls you into the future. The stronger the vision, the more sustainable energy pulling you forward. The past will have less hold on you. So, start your strategic planning process by creating an inspirational vision for the future.

When Creating Your Vision Statement DON’T Try to Do It By Yourself.

Remember that your team has ingrained habits. Your organization also has ingrained processes. If you just show up one day and say, “Here is our new vision,” you will meet resistance. You will have much better success if you pull your key stakeholders together to make the vision more global.

Send out an agenda for the meeting ahead of time to give your team a chance to think about it. You might ask them a question like, “If we were successful beyond our wildest dreams, what would our organization look like?” Then, when you start the meeting write every idea on a flip chart. Brainstorm until you get 10 to 20 short phrase answers.

Set a time limit. Your team will take as much time as you give them to complete the vision statement. My suggestion would be to limit the time to just 10 to 20 minutes.

Once you have a number of responses, end the meeting. Then, take the best ideas and create a simple and cohesive vision statement for the group. If you are from my generation, think of the last minute of The Breakfast Club. The diverse group of detention attendees each got input on the essay. Your team will move toward the vision faster if they help create it.

This can be a very useful exercise to create a strong foundation for your organization. It can also be a good educational experience for the leader. (You may find out things you didn’t know about your team members in the process.)

By the way, if you are looking for a template for a Personal Vision Statement , click here. We have a separate blog post for that type of vision statement.

Make Your Vision Statement as Specific as Possible.

For instance, here is Amazon’s vision statement: “Our vision is to be earth’s most customer-centric company; to build a place where people can come to find and discover anything they might want to buy online.”

I know what you are thinking… “Sure, with all the success that Amazon has had, it is easy for them to think big like that.” However, this was the vision that Jeff Bezos had in 1997 when Amazon went public. That vision was created when they were just selling books online and trying to compete with Barnes & Noble.

In archery, if you aim for the target and miss, you will miss the target. However, if you aim for the bullseye and miss, you still hit the target. So, avoid vague superlatives. Most vision (and mission) statements use words like “a market leader” or “provide quality products.” By the way, here is one of the worst examples. “Be the global leader in customer value.” When you read it, there is no way to even know what industry the company is in. (It is big engines, by the way.)

Here are some of my favorite examples of vision statements:

• Land O’Lakes Vision — Our vision is to be one of the best food and agricultural companies in the world by being: Our customers’ first choice; Our employees’ first choice; Responsible to our owners; and A leader in our communities.
• Microsoft (at its founding) — A computer on every desk and in every home.
• LinkedIn — Create economic opportunity for every member of the global workforce.

Next, Create a List of Values that Set Your Organization Apart from Other Organizations.

I found out how important this written list of values is just recently. Years ago, my team and I created a list of five values that sets us apart from our competition. (By the way, if you want to see them they are listed at Leader’s Institute ® Values .)

At the top of our list is Responsiveness. From the early days of the company, we realized that when potential customers have a problem, they want a solution right now. The second was Quality. Frankly, we charge a premium price for our services. As a result, our customers expect the highest quality. They expect perfection. The third was Cooperation. Our customers want the process to be easy. The last two are Initiative and Continuous Improvement. Our team members have to be able to solve problems without having to slow down the solution process. In addition, we know that as good as we are today, if we are not improving the processes, we will be left behind.

These high standards help us create common goals as a team.

How Creating that Value List Paid Off in a Huge Way.

A couple of years ago, we set an audacious goal for growth. We wanted to quadruple revenue in less than five years. After setting the goal, I had a quick realization. Some of my team members were going to be instrumental in the growth. Others, however, may actually harm the growth process. I also knew that we were going to need to bring in a significant number of new team members as we progressed toward the goal.

So I and my top two executives created a little worksheet with the five core values listed on it. Then, we added the names of each of our team members. Finally, we gave each a score based on the way that we perceived each team member in each area. For instance, my score for initiative was a 10 out of 10. Apparently, my strength is taking initiative. However, I scored a 3 out of 10 in cooperation. (Not my strength.)

We did that for each team member. We realized very quickly that some of our hiring decisions may have hampered growth. In the heat of the moment, we needed skilled people. So, when we found people with the needed skills who would work for what we would pay them, we hired them. We don’t do that anymore. Now, we look first at how each applicant scores in each of our core values. This has helped us make much better hiring decisions.

Here Is a List of Potential Values that You Can Use as a Starting Point.

This list is not comprehensive. It is there to give you some ideas. By the way, your core values don’t have to be just single words. Google’s core values are pretty fun to look at. They created ten core values. Here is a couple of them. “Fast is better than slow.” “You can be serious without a suit.” “Great just isn’t good enough.”

Now that You Have a Great Vision and Core Values, The Mission Statement Is Much Easier to Create.

All morning, I got the team to, in great detail, by the way, tell me the functions of the company. It turns out, their purpose for existing was related to boxes, but their customers didn’t really want the boxes. They wanted the results that the boxes gave them. The customers were looking for ways to ship their products from one location to another with little or no damage. Once they realized this, a whole new world of possibilities opened up.

Their salespeople were no longer just talking to customers about how to increase the number of boxes per order. The conversations changed to ways that they could help the customers better protect their inventory.

Your Mission Is Not What You Do. Your Mission Is the Result that You Help Your Customers Create.

We have a number of different companies under The Leaders Institute ® banner. For instance, our Fearless Presentations ® group offers presentation skills training. Our mission though isn’t something vague like, “We offer world-class public speaking classes.” Instead, we focus on the result. “We help people conquer the fear of public speaking in just a couple of days.”

The difference between the mission statement and the vision statement is that we are CURRENTLY helping people reduce public speaking fear. We are known around the world for that.

In our team building company, our mission isn’t “To provide the best team building activities.” Instead, “We help our customers make meetings more fun and valuable.” It is what we do, and our customers love that we do that.

So, when you create your mission statement, first, take a look at your vision statement and values. Then, ask yourself, “How exactly do we do that? What result do our customers receive?”

The answer is not your product or service. That result, however, is likely to be a great mission statement for you!

Examples of Mission Statements

Each of these organizations’ mission statements clearly explain what they do. You can use these as a template for your own company’s mission if you like.

• National Geographic – We support a diverse, international community of changemakers — National Geographic Explorers — who use the power of science, exploration, education, and storytelling to illuminate and protect the wonder of our world.
• Slack – Slack brings all your team’s communication together, giving everyone a shared workspace where conversations are organized and accessible.
• MailChimp – Send better e-mail. We help millions of customers to find their audience, engage their clients, and build their brand.
• Spotify – Our mission is to unlock the potential of human creativity – by giving a million creative artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by it.
• Swarovski – Swarovski adds sparkle to everyday life with high-quality products and services that exceed our customers’ desires. We inspire our colleagues with innovation and reward their achievements while striving to expand our market leadership.

For additional company’s mission statements, see 101 Incredible Mission Statements .

Use the Template Below to Create a Mission and Vision Statement as Well as List Your Core Values.

Use the Vision, Mission, and Values Template below to create an inspiring statement and explain your organization’s purpose. Start with an effective vision statement. Next, use the dropdown lists to create value statements for your organization. Finally, focus on the mission of the organization last. (It will be easier that way.)

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57 Mission Statement Examples That Define Companies and Inspire Customers

Plus a guide on how to write a mission statement.

Some skeptics are eager to criticize mission statements. They see them as generic and platitudinous , another startup box that founders need to check.

 Turns out, though, a mission statement’s success depends on how it’s written.

What Is a Mission Statement?

In his influential 1998 research article , consultant and business professor Chris Bart found “a significant and positive correlation” between organizational performance and mission statements when managers were satisfied with those statements . He also found a correlation between performance and the process used to develop statements. Simply having a mission statement was a non-factor, but one created with real buy-in delivered the goods.

Related Reading Tips for Effective Business Storytelling

Mission Statement Examples

Later, we’ll tease out what exactly makes a mission statement effective and explore tips for writing one. But first, here are some examples to fuel your inspiration.

• Apple: “To bring the best user experience to customers through innovative hardware, software and services.”
• Procter & Gamble: “To provide branded products and services of superior quality and value that improve the lives of the world’s consumers, now and for generations to come.”
• Reddit: “To bring community and belonging to everyone in the world.”
• Nike: “To bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete.”

Mission statement:  “At Personio, our mission is to help HR focus on what matters most: people.”

GrayMatter Robotics

Mission statement: “Our mission is to help your people and your industrial assets become smarter and more visible.”

Inspira Financial

Mission statement: “We solve complex problems for countless strategic partners and thousands of employers. We help millions of individuals to thrive today, tomorrow and into retirement.”

Scythe Robotics

Mission statement: “To provide the most advanced and sustainable autonomous technology for maintaining off-road environments safely, effectively, and responsibly.”

Biz2Credit Inc.

Mission statement: “Our mission is to provide small businesses with the best funding options for each and every project or capital need, with technology that makes business financing easy to understand and easy to access.”

Gradient AI

Mission statement: “Gradient AI is on a mission to increase precision and automation throughout the insurance industry.”

Mission statement: “At Inato, we’re on a mission to bring clinical research to each and every patient, regardless of who they are and where they live.”

Formation Bio

Mission statement: “Our mission is to bring new treatments to patients faster and more efficiently. We are a tech-driven, AI-native pharma company changing the way drug development is done.”

Mission statement: “Our mission is to empower every homeowner. We’re creating a world where home ownership comes with ease, security, and financial know-how.”

Bilt Rewards

Mission statement: “Renting should be rewarding.”

Mission statement: “FPFX Tech delivers technology solutions that bridge the gap between what brokers offer and what traders want, with innovative products and applications that create points of differentiation and client loyalty.”

Mission statement: “Our mission is to make authentication and authorization simple and secure for every developer.”

Mission statement: “Our mission is to place the right person in the right shift, every time.”

Invoice Home

Mission statement: “We strive to maximize business efficiency with an affordable and easy-to-use billing and invoicing service. We cater to time-strapped small businesses and freelancers who seek to grow their business and build their brand.”

LoanStreet Inc.

Mission statement: “Our mission is to provide the most efficient, transparent and robust tools for financial institutions to manage their balance sheets, connect with partners and effectively share risk.

Mission statement: “Meetup’s mission is to help people grow and achieve their goals through real-life, human connections. From professional networking to craft brewery crawls to coding workshops, people use Meetup to get out of their comfort zones, meet new people, learn new things, pursue passions, and find supportive communities that will help them thrive.

Gogo Business Aviation

Mission statement: “To keep your passengers, pilots and planes seamlessly and continually connected worldwide.”

Snap! Mobile

Mission: “To empower coaches and educators in their dedication to develop the leaders of tomorrow. Our vision is to strengthen developing programs through technology-driven, community-first solutions that support dedicated leaders and champion the next generation.” 

VelocityEHS

Mission statement: “Making the world’s best workplaces safer and more sustainable.”

OTR Solutions

Mission statement: “OTR’s mission is to create exceptional value for our clients by providing industry leading financing and back-office solutions. Three pillars that are crucial to supporting that mission are outstanding customer service, technology that creates efficiency for ourselves and our customers and a culture that provides the opportunity for employees to achieve greatness.”

Mission statement: “To be a trusted partner in providing homeowners and their families safety, enjoyment, convenience, and peace of mind through innovative, professionally installed solutions that protect the condition and grow the value of their homes.”

GameChanger

Mission statement:  “Help families elevate the next generation through sports.”

Mission statement:  “We exist to advance the economic power of people living and working in the real world.”

Mission statement: “Always with you, building a more confident future. MetLife contributes to a more confident future as an employer, an investor and a provider of financial solutions and expertise. Our purpose is at the heart of our virtuous circle of delivering for our colleagues, our communities, our customers and our shareholders.”

Mission statement:  “We bring together brands and their audience to make connections that matter.”

Mission statement:  “For over a decade, we’ve been building tech for food people, so restaurant owners can save money, staff members can save time, and diners can order better. Because when restaurants thrive, they can keep serving food that gives your community its unique flavor. We want to keep it that way.”

MobilityWare

Mission statement: “Bringing joy to others one game at a time.”

Mission statement:  “We empower everyday people to move forward on the path to a better financial future.”

First Entertainment Credit Union

Mission statement:  “We build lifelong financial relationships with the people in entertainment based on a deep understanding of how they live and work.”

Mission statement: “Our mission is to rebuild the infrastructure of the travel industry in order to bring freedom, simplicity, and trust to travelers everywhere. We are bringing change to an industry that has been held back by outdated technology and complicated financial incentives that solve for the needs of middlemen instead of providing the best experience to users. Travel matters when communication is essential to building trust, commitment, and a shared sense of purpose. In essence, business travel is a necessity any time success depends on the strength of human connections.”

PatientPoint

Mission statement:  “ PatientPoint is on a mission to make every doctor-patient engagement better, and that goal is at the core of everything we do. We are the patient engagement platform for every point of care. Our digital solutions impact 750 million patient visits every year, helping drive better health outcomes that enable people to live longer, healthier lives.”

Mission Statement:  “At Trupanion , we’re on a mission to help loving, responsible pet owners budget and care for their pets.”

Mission Statement :  “We’re on a mission to simplify the complexities of payments to help you grow.”

Mission Statement : “Our mission is to bring the best user experience to customers through innovative hardware, software and services.”

Mission Statement : “To help humanity thrive by enabling the world's teams to work together effortlessly.”

Mission Statement : “To be the most trusted and convenient destination for pet parents (and partners), everywhere.”

Mission Statement : “Our mission is to increase economic freedom in the world. Everyone deserves access to financial services that can help empower them to create a better life for themselves and their families. If the world economy ran on a common set of standards that could not be manipulated by any company or country, the world would be a more fair and free place, and human progress would accelerate.”

Mission Statement : “DoorDash is a technology company that connects people with the best of their neighborhoods across the US, Canada, Australia, Japan, and Germany. We enable local businesses to meet consumers’ needs of ease and convenience, and, in turn, generate new ways for people to earn, work, and live. By building the last-mile logistics infrastructure for local commerce, we’re fulfilling our mission to grow and empower local economies.”

Mission Statement : “Our mission is to design a more enlightened way of working. Dropbox helps people be organized, stay focused and get in sync with their teams.”

Bright Horizons

Mission Statement :  “Dedicated to the highest quality education and care; making a lasting difference, one child, one student, one teacher, one family, and one employer at a time.”

EFFECT Photonics

Mission Statement : “To interconnect humanity through fast, affordable, sustainable, and effective communication technologies.”

Mission Statement:  “Our mission is to build the most popular car subscription platform. Our aim is to help anyone who loves driving a car of their own but fears the struggle, commitment, and intransparent costs associated with ownership to get behind the wheel.”

Mission Statement : “The Fivetran mission is to make access to data as simple and reliable as electricity. The invention of the lightbulb spawned generations to change the world through electricity, creating millions of new products, devices and services. We’re empowering future ‘Thomas Edison’s’ to transform the way the world makes decisions through our always-on access to accurate data. This helps drive better data-driven decisions in pursuits like discovering new drugs, serving humanity in ways big and small (think: banking the underbanked, keeping hospital records up to date, and more!), and enabling social good organizations to do what they do best by improving lives everywhere.”

Mission Statement : “It is GitLab’s mission to make it so that everyone can contribute. When everyone can contribute, users become contributors and we greatly increase the rate of innovation.”

Intel Corporation

Mission Statement : “We create world-changing technology that improves the life of every person on the planet.”

Mission Statement : “Our mission is to empower every person and every organization on the planet to achieve more.”

Mission Statement : “Our mission is to ensure the Internet is a global public resource, open and accessible to all. An Internet that truly puts people first, where individuals can shape their own experience and are empowered, safe and independent.”

NBCUniversal

Mission Statement : “To be the premier content provider for television and digital platforms, spanning all television.”

Mission Statement : “To bring inspiration and innovation to every athlete* in the world.

*If you have a body, you are an athlete.”

The Pokémon Company International

Mission Statement : “At Pokémon, our mission is to become an entertainment leader and bring the fun of Pokémon to people around the world!”

Procter & Gamble

Mission Statement : “We will provide branded products and services of superior quality and value that improve the lives of the world’s consumers, now and for generations to come. As a result, consumers will reward us with leadership sales, profit and value creation, allowing our people, our shareholders and the communities in which we live and work to prosper.”

Mission Statement : “Our mission is to bring community and belonging to everyone in the world.”

Mission Statement : “We help people achieve independence by making it easier to start, run, and grow a business. We believe the future of commerce has more voices, not fewer, so we’re reducing the barriers to business ownership to make commerce better for everyone.”

Mission Statement : “At Smartsheet, our mission is to empower anyone to drive meaningful change — for themselves, their businesses and even for the world.”

Warby Parker

Mission Statement : “To inspire and impact the world with vision, purpose, and style.”

Mission Statement : “We’re empowering everyone to create for the web — and leading impactful, fulfilling lives while we do it.”

How to Write a Mission Statement

When it comes time to draft your company’s mission statement, consider the following:

Tips for Writing a Mission Statement

• Make it simple, aspirational and memorable.
• Direct it toward stakeholders, but don’t prioritize shareholders.
• Keep employees — current and future — top of mind.
• Avoid saying you’re “the best.”
• Leave room for the mission to evolve.

Make it Simple, Aspirational and Memorable

A successful mission statement has three important traits, according to Jeffrey Abrahams, author of 101 Mission Statements From Top Companies . They are simplicity, aspiration and memorability.

There’s no magic word count, but experts agree that concision is best. Abrahams recommends aiming for a single-sentence statement. “That has greater impact and can be communicated easily, both within the company and to the target audience,” he said.

Bart, meanwhile, recommends capping at around 70 words. And Inés Alegre, a professor at the business school of the University of Navarra who led a 2018 review of mission-statement research, told Built In that three sentences or so is appropriate.

Your precise mileage may vary, but the “KISS” recommendation put forward by Bart in his 1998 paper still seems appropriate: Keep it simple and straightforward.

It’s common to find an organization’s mission statement posted on an “About” page, but it doesn’t have to be merely descriptive; incorporate some ambition, Abrahams suggested. He invoked Microsoft’s statement: “Our mission is to empower every person and every organization on the planet to achieve more.”

Memorability

Action verbs, wariness of jargon and bizspeak — these are a CEO’s allies when drafting a statement. It should be organization-specific, too. 

“If the mission statement could be used by a number of companies, especially competitors, it’s not going to be either memorable or serve the company very well,” said Abrahams. “You want it to be distinctive.”

Direct It Toward Stakeholders

“Missions describe why an organization exists, but in particular, they should describe the relationships that the organization wants to have with the stakeholders upon whom it depends for survival, growth and sustainability,” Bart said.

According to him, an effective mission statement should at least speak to two audiences: customers and employees. He cited Southwest Airlines as an illustrative example:

“The mission of Southwest Airlines is dedication to the highest quality of customer service delivered with a sense of warmth, friendliness, individual pride and company spirit.   To our employees: We are committed to provide our employees a stable work environment with equal opportunity for learning and personal growth. Creativity and innovation are encouraged for improving the effectiveness of Southwest Airlines. Above all, employees will be provided the same concern, respect and caring attitude within the organization that they are expected to share externally with every Southwest customer.”

In addition to customers and employees, a strong statement will also often address shareholders and the community at large, Bart said. Here’s one he helped draft for a casino resort that directly targets all four groups:

“Our mission is to provide every guest with a ‘blow away experience’ that is inspired by a celebration of the sea and the myth of a lost civilization. We accomplish this by bringing the myth of Atlantis to life by offering warm, positive, engaging service.   At Atlantis, we are a team of individuals who are passionate and committed in everything that we do. We continuously strive for perfection. We are proud to work at Atlantis because we are a caring and learning organization, which rewards accomplishment and promotes teamwork, respect and innovation.   At Atlantis, we are the pride of our community while providing enduring value for our shareholders. When Atlantis succeeds, we succeed as individuals, and we contribute to the success of the Bahamas.”

… But Avoid Prioritizing Shareholders

It may be more obvious today — after the rise of sustainable investing , office-perk culture that caters to employee happiness and the fact that we’re in the midst of a job seekers’ market — but the thrust of the mission can’t simply be shareholder yield.

Statements that center the returns of the investor class will align approximately zero employees to an organization’s mission. “Shareholder value was the typical mission in the nineties — not anymore,” said Alegre.

One possible symptom of such misalignment? Jargon creep. “When buzzwords and platitudes happen, they usually happen when the focus of the company moves from customer to shareholder,” wrote entrepreneur and Built In expert contributor Joe Procopio.

Read Next 3 Reasons to Prioritize Mission Over Profit in Tech

Resist the Superlatives

As mentioned, mission statements should have an air of the aspirational. But, especially in this era of superlative fatigue , beware of “the biggest,” “the boldest” and “the best.” They’ll inspire more shrugs than hearts, especially when unsupported.

“When a company says its mission statement is to be the best [category here] company in the world — the best steel company in the world or the best clothing company in the world, it’s too general,” said Abrahams. “It needs to be backed up by strongly worded core values, a vision, and guiding principles and beliefs.”

Think of It as a Management Tool

Even though mission statements address multiple audiences, they shouldn’t pretend to think each audience is listening with equal attention.

“There’s a question of prioritization of stakeholders — is it the clients, employees, suppliers, investors? You probably cannot satisfy all at the same level,” said Alegre.

That begs a question: Should companies think of mission statements more as an internal compass for culture and strategy, or an external branding — or even recruiting — element? That is, are they management or marketing? 

“My answer is yes,” said Abrahams. 

Ideally, it can serve as both, experts told Built In, but it should be considered first and foremost a management tool. (Indeed, most research on the topic is published in management, not marketing, journals.) “My impression is that it’s much more useful as an internal alignment tool than external branding,” said Alegre.

Think of the statement primarily as something for employees, Bart said, a true north against which the workforce can always orient itself.

Reinforce the Mission Statement in All Your Communications

Once the statement is finalized, think of it as a muscle: Exercise it often to prevent it from losing definition. Reference the mission during onboardings, training, team meetings, board reviews of key projects and wherever else reinforcement makes sense. Post it on your website, of course, but also your wall. “I work in a business school where the first thing you see after the entrance is the mission,” Alegre said.

Mission statements are especially important during times of uncertainty, such as early in an organization’s life or during growth pushes, Alegre said. Still, lean on them in times of greater stability, too. That provides room for the mission to organically evolve.

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Company Values Statement as Part of the Business Plan

Now that you have read the article on why you need a business plan and the next article on your internal planning document, the business action plan, it's time to start putting together the formal business plan for your company.

The first page or two of the business plan will be the Executive Summary and the Table of Contents. Those pages are written last because you don't really know what you want to say in the Executive Summary until you write the entire business plan and you can't write the Table of Contents until you finish the plan.

Background for Corporate Values Statement

Instead, we start with your Company Overview and your company's values statement. This, like every section of the business plan, will require some thought on your part. Thinking about the values that your company will operate under has a lot to do with your own values. You may think about the marketplace today, and it may seem like it is a scenario where survival of the fittest reigns and ethics and values don't matter anymore. 

The thing is, that's not true. If you don't deal with your customers ethically, they won't be your customers anymore. If you have investors and you don't deal with them ethically, they will drop you like a hot potato. Your employees, while they may seem desperate for jobs, they aren't "that" desperate. Treat them with respect and they will do the same for you.

Business ethics and values may matter more than ever. People are looking for companies with values. Investors want to invest in socially responsible companies who can also make money for them. Customers are craving to buy from companies who employ U.S. workers and from whom they can buy U.S. products. Employees are looking for employers they can respect and earn their respect in return.

There is the background for your corporate values statement. Lack of ethics on Wall Street led to the financial collapse of 2008, from which many segments of our markets still have not recovered. As a small business person, you will see this as you start up or grow your business. If your small business is accused of a lack of values and ethics, it could quite possibly never recover.

Scenario Analysis

Here is a scenario analysis to test your values. John Jones is a management consultant running his own small business. He has a client who has hired him to make a recommendation on a project they are contemplating introducing in another country. That country has virtually no pollution guidelines as we have in the U.S. This project involves drilling for oil and natural gas in the other country.

Engineers have already determined that substantial pollution will be a consequence of the drilling. However, John Jones and the company he is working for has no idea if the drilling will be successful. It is a very risky project, but with possible high short-term profits if it is successful. Should John recommend the project?

In the first place, if John recommends this project, he would likely be sacrificing long-term profitability and maximization of shareholder wealth for short-term profits, if the project is successful. Is that ethical? No. The goal of a firm in a capitalist society is ​the maximization of shareholder wealth.

Second, even if a foreign country has no pollution guidelines, should a business owner who knows that dumping pollutants into a countries air and water is a terrible thing recommend it? No. That should be against their values. Most people would say that John Jones should definitely not recommend this project for both financial and ethical reasons.

Build Your own Values Statement

What is a values statement? A values statement is a set of beliefs and principles that guides your company as you do business. From a practical standpoint, it can keep your company on the right side of the law, and out of trouble with the IRS and other federal and state agencies.

If a crisis strikes and your company has a values statement, everyone knows how to react and chaos is reduced to a minimum. Remember that your values statement will have an impact on all stakeholders of your firm from customers to investors.

Building your values statement takes time. You can probably write down some of the values you want for your company right now. Others you may have to think about. Some will come to you as you write additional sections of your business plan. Don't rush.

The values statement will build itself as you build your business plan. If you are working with a partner or even with a senior manager or two, sit down and brainstorm with them about the values you want your company to uphold. Look at examples of values statements for other companies and see what you can learn from them.

Sybase, Inc. is a worldwide technology (SAP) company supplying enterprise management solutions to Fortune 500 companies. The CEO of Sybase has a very clear values statement on their website that might interest you and help you write your own. A smaller company, Whole Foods, the natural and organic food corporation, also has an interesting value statement on its website.

Company core values: 25 inspiring examples

by Kellie Wong

Updated on February 20, 2024

Create a culture that means business™

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Your company core values define the employee experience. To inspire your workforce to live by them, you must lay out clear expectations and recognize the people (and their behaviors) who epitomize your company values.

This article will break down what lies behind the best core company values, help you identify the values that define your business, and inspire you with outstanding examples of companies that live their values each day.

What are company core values?

Company Core Values are the set of ethics and principles that govern a company’s decision making and actions. They also serve as the foundation for the company culture, and the behaviors expected by its workforce.

The top factor of employee satisfaction is the culture and values of an organization. Over 75 percent of employees consider it “very important” to work for a company with defined core values. This translates to a better bottom line : companies with highly aligned cultures see 30 percent higher growth and 17 percent higher profit growth.

A recent Harvard Business Review article by Dr. Natalie Baumgartner, Chief Workforce Scientist at Achievers, suggests that 26 percent of employees would forego a fancy title and 65 percent would accept lower pay rather than deal with a poor workplace environment.

What are examples core values?

• Integrity: Acting ethically and transparently in all business dealings, prioritizing doing the right thing over personal gain. It means being accountable and following through with decisions made, even if no one is around to see it.
• Innovation: Pushing past the status quo with bold and progressive ideas. Being curious and challenging deeply ingrained assumptions and traditional methods. Innovation is learning from both successes and failures to forge a new path forward – all with a deep hunger for improvement.
• Accountability: Owning the decisions made and their outcomes. It is more than simply acknowledging one’s mistakes but actively learning from them to drive positive outcomes. Taking ownership of one’s actions help foster a culture of trust and improved employee morale.
• Honesty: Being upfront and forthcoming with information, insights, and processes. By creating a culture where truth is at the forefront, employees are able to address the problems openly and transparently at hand. Relationships built on honesty help build connections among employees and customers alike.
• Respect: Going beyond simply being polite, respect means treating all employees, clients, customers, and stakeholders with dignity and worth – no matter their background, position, or opinions. It is acknowledging the unique contributions each individual makes in furthering the goals of the organization.
• Passion: Expressing a contagious enthusiasm for shared company goals and daily tasks at hand. Passion is what motivates and drives employees to excel helping them find purpose in their day-to-day job. It is also what helps individuals persevere when faced with inevitable challenges or obstacles in the workplace.
• Trust: Nurturing positive relationships at all levels of the organization. Building trust means your employees benefit from a culture of honesty, psychological safety, and mutual respect. Trust is key to helping employees feel secure in their jobs, improving retention and engagement.
• Teamwork: Working cohesively and collaboratively towards something bigger. Teamwork brings together different skills and perspectives that you would not get if it was just an individual on their own. Collaborating as a team can result in an increase in innovation, team bonding, learning & development, and a greater sense of achievement.
• Creativity: Finding new ways of thinking, learning, and doing. Encouraging calculated risk-taking and celebrate experimentation, understanding that even failures can offer valuable lessons. Not only can creativity improve productivity and efficiency, it also helps businesses stay ahead of the competition.
• Compassion: Actively understanding and empathizing with the experiences and challenges of others, without judgement or assumptions. Cultivating a supportive environment which means active listening, offering support when needed, and celebrating successes together. Prioritizing compassion fosters a sense of belonging leading to reduced stress, improved wellbeing and ultimately employee retention.
• Courage: Standing up for a principle or cause despite personal fears or risk of negative outcomes. In the workplace this might mean taking a calculated business risk, making a stand against discrimination, or saying ‘no’ to something that might go against one’s convictions.
• Loyalty: A strong attachment to an organization and its mission, values, and vision. Loyalty means working hard not only for a paycheck but committing to see the company grow and succeed. Feeling seen, heard, and valued are major contributors in building employee loyalty.
• Adaptability: The ability to change and adjust one’s behavior or strategy based on the shifting demands of the organization, market, or general circumstances. Being proactive and resourceful in new environments with the capacity to bounce back from setbacks.
• Dependability: Being trustworthy and reliable in the workplace. It means consistently demonstrating integrity through actions, not just words. Taking ownership of commitments, delivering high-quality work, and standing accountable when things don’t go as planned. Upholding this value creates an environment of mutual support and shared success.
• Excellence: Workplace excellence goes above and beyond requirements and expectations. It is the pushing of boundaries to achieve the highest quality results taking pride in the work that is done. A spirit of excellence inspires and motivates employees to continuously improve bringing the best out of everybody.
• Happiness: Feeling enjoyment or fulfillment with one’s job, workplace environment, and relationships. Happiness develops when employees feel valued and appreciated for the contributions they make. A happy workforce boosts all aspects of the business including engagement, productivity, reduced absenteeism, and lower turnover.
• Health: Employee wellbeing takes into account both the physical and mental health of the entire workforce. Organizations that take a holistic approach through policies, programs, and benefits not only improve employee morale but help reduce healthcare costs for both employers and employees.
• Humility: The self-awareness to recognize one’s limitations or weaknesses as well as the open-mindedness towards different perspectives. Being able to learn and grow from people and experiences is key to this trait. It’s the realization that all employees regardless of their role or experience contribute to the success of an organization.
• Kindness: Acts of kindness is a powerful way to foster safety and build connections in the workplace. Breeding a culture of kindness involve understanding, empathy, support, and recognition. Improvements in workplace morale, collaboration, loyalty, and wellbeing can all be outcomes when organizations prioritize this core value.
• Knowledge: Freely sharing information so that employees can do their jobs effectively. Knowledge can look like organizational policies and procedures, technical expertise, and industry-specific trends. Knowledge also extends beyond simply acquiring information but applying it to the job as well.
• Leadership: Empowering and motivating others towards a shared goal. Leadership can take on many forms, from setting an inspiring vision and direction to offering guidance and support to leading by example. By positively influencing others to participate in the company’s vision, leaders act as a north star for peers around them.
• Openness: Fostering an environment where individuals can freely share relevant ideas, opinions, and information without fear of judgement. This type of environment creates psychological safety for all, encouraging honesty and transparency. Organizations that promote an open workplace not only contributes to a more positive work environment but fosters innovation and creativity.
• Commitment: The willingness to put the time, effort, and energy into furthering the organization toward its goals. It is an unwavering dedication stemming from the belief that the daily tasks meaningfully contribute to the bigger picture. Always going the extra mile to ensure the job gets done no matter how big or how small.
• Community: More than just individual connections, community at work brings people together through common interests, objectives, or experiences. It’s an investment in policies, programs, and activities that build a “one team” mentality helping employees feel a sense of belonging, connection, and shared purpose.
• Diversity: Respecting and valuing the background, skills, and insights of all employees. A commitment to creating an environment where everybody has equal access to opportunities that are available. Diversity goes beyond demographics and includes accepting different work styles, personalities, and differences in how people think and learn.
• How to define and live by your company core value statements

Defining your company values statements requires a close examination of your organization’s culture and vision. Think deeply about how to use your values to illustrate what your company hopes to achieve and represent. Consider these guidelines when establishing your company core values:

• Keep it short . Your values should be easy for your employees to memorize and epitomize. Rather than writing an essay, think about the real meaning of your values. Distill them down to words that the average person understands and can adhere to.
• Stay specific . Writing in vague corporate jargon is confusing and dilutes the meaning behind your words. Values need to tie specifically to your company’s goals and mission. They should be relevant to the products or services your company offers as well as your company culture.
• Address internal and external goals . A company’s decisions impact the employee experience, but they also impact the outside world. Failing to consider the ways your company affects external groups is disingenuous. When you address the manner in which your company wants to interact with the outside world, it leaves employees feeling hopeful and inspires trust in your customers.
• Make them unique . Using the same values as a different company 一 or worse, a competitor 一 leaves your business looking ordinary. Think of what sets your organization apart from others and concentrate on bringing those aspects to light in your company core values to attract the right customers and employees.

With values established, one of the best ways to build a culture that aligns with your company values is by recognizing employees who embody them. 92 percent of employees agree that when they’re recognized for a specific action, they’re more likely to repeat it in the future . Explicitly tying recognition to company values helps sync company and employee principles even further.

Encouraging everyone in your organization to practice frequent recognition strengthens company values and performance. Make recognition easy with an employee recognition platform that also allows employees to tie recognitions to specific company core values. For example, this recognition from Achievers’ CEO and President, Jeff Cates, that exemplifies his organization’s core value of “One Team”.

Jeff was able to send this recognition across a company-wide newsfeed in moments using Aspire, Achievers’ recognition program. See how a recognition platform can help your company start truly living its values .

• 11 examples of companies with exceptional core values

To keep your employees eager to do great work, you need to create a clear, meaningful set of core values everyone can get behind. And there’s no better way to start than by looking at examples of companies that have done it right. The companies below have values that capture the essence of their business and culture, and putting their values into practice 一 often with the aid of a recognition platform 一 has led each organization to sustained success.

3M is a global company with over 88,000 employees that produces innovative technologies to change the world for the better. The values they choose to live by reveal the deep appreciation they have for their investors, the environment, and their employees. Their guiding values include:

• Act with uncompromising honesty and integrity in everything we do.
• Satisfy our customers with innovative technology and superior quality, value and service.
• Provide our investors an attractive return through sustainable, global growth.
• Respect our social and physical environment around the world.
• Value and develop our employees’ diverse talents, initiative and leadership.
• Earn the admiration of all those associated with 3M worldwide.

One way that 3M ensures these values stay constant as they grow is by investing in educational opportunities for potential future 3M employees. 3M supports programs like WorldSkills, DonorsChoose.org, Frontline Sales Initiative, Young Scientist Challenge, and 3M Visiting Wizards. Each initiative hopes to inspire the next generation of scientists, innovators and inventors.

While their values are exemplary, 3M had several challenges bringing their workforce together: a traveling sales team, a mix of unionized and non-unionized workers, and a wide range of employee ages, from young professionals to employees nearing retirement. In 2009, 3M deployed an all-in-one recognition solution that performed with flying colors, increasing engagement by seven percent with 99 percent of employees actively using the platform. It was especially popular with 3M’s offline employees who were out providing customers with superior service.

2. Bayhealth

Bayhealth is the largest not-for-profit healthcare system in central and southern Delaware. Its mission is to bring the nation’s best healthcare to the communities it serves, and this is reflected in their core values:

• Compassion: We are kind and caring to everyone we encounter.
• Accountability: Each of us is responsible for our words, our actions, and our results.
• Respect: We value everyone and treat people with dignity and professionalism.
• Integrity: We build trust through responsible actions and honest relationships.
• Teamwork: We achieve more when we collaborate and all work together.

To drive their community-focused mission, Bayhealth understood that recognizing and engaging their workforce would be paramount in effecting positive change for both their employees and patients. They implemented a new recognition program, Driven, powered by a comprehensive employee recognition platform. Driven resulted in a 98 percent activation rate, 84 percent of employees engaging with it on a monthly basis — including 97 percent of leaders. Employees also started receiving almost 4 recognitions per month on average while sending out almost 3.

Bayhealth also implemented an employee feedback solution so their leaders could receive timely information about day-today issues that require immediate attention — a critical concern in a patient caring workforce.

3. Coborn’s

Coborn’s features over 120 grocery, convenience, and liquor locations in the Midwest. Coborn’s values reflect their commitment to making a positive impact on their customers and communities:

• Guest Focus
• Executional Excellence
• Community Giving
• Dignity and Respect

During the COVID-19 pandemic, Coborn’s increased location managers’ budgets and urged them to ramp up recognition frequency to front-line employees. The company also added a new recognition category, Safety & Wellbeing, to reiterate the importance of safety across their 120 locations. In keeping with their core value of Dignity and Respect, Coborn’s also implemented an end-to-end employee engagement solution that demonstrated they wanted to give each team member a voice and increased employee engagement.

4. Cox Automotive

Cox Automotive is a subsidiary of Cox Enterprises, and the parent company of Autotrader, Kelley Blue Book, and Xtime. The company splits their values into a few categories: The Why, The Hows, and The Whats. Each section of their values highlights Cox Automotive’s commitment to their employees, customers, and surrounding communities:

• Empower People Today to Build a Better Future for the Next Generation
• Do the right thing. Always.
• Lead by example
• Bring out the best in everyone
• Make a little music
• Do it all in the spirit of Cox
• Identify & invest in growth & diversification
• Delight our customers
• Honor our commitments
• Develop & incorporate new technology
• Improve financial security

To address their why, hows, and whats, Cox Automotive has built a unique workforce that reflects the communities they serve . During the pandemic, their workforce doubled down on their recognition of all the hard work the technology, people solutions, and communications teams were doing, and shouting out their employees on the front lines.

To rallying the company, Cox Automotive implemented Spark , a recognition program to enhance camaraderie across the organization. They also ran a special campaign which included a fun roster of activities to drive awareness and participation, 25,522 “Thank You” recognition cards – more than tripled their daily average.

5. Discover

Discover’s values are short, sweet, and effective. The values, often displayed in the form of an acrostic poem, demonstrate Discover’s focus on integrity, invention, and partnership:

• Doing the right thing
• Collaboration
• Volunteerism

Discover truly lives by these values , and considers giving back to be “a key component to bettering [their] community and running a successful business.” As such, Discover partners with organizations like Boys and Girls Club, Junior Achievement, Big Brothers Big Sisters, and Chicago Cares. Discover even has an employee giving program where they match employee donations to charities of their choice.

To continue driving positive behaviors and demonstrating respect for their employees, Discover implemented a recognition solution that let employees reward each other for living their values. Whether they are explaining how to improve a customer’s credit score or outlining the way a customer’s student loan is structured, recognition motivates Discover employees to help their customers make informed financial decisions.

Everyone in the world has heard of Google. Such an influential business needs killer corporate values, and Google does not disappoint. They refer to their values as ten things we know to be true, which were originally written when Google was a few years old:

• Focus on the user and all else will follow.
• It’s best to do one thing really, really well.
• Fast is better than slow.
• Democracy on the web works.
• You don’t need to be at your desk to need an answer.
• You can make money without doing evil.
• There’s always more information out there.
• The need for information crosses all borders.
• You can be serious without a suit.
• Great just isn’t good enough.

Google has a corresponding paragraph fully explaining each of these tenets in detail. It is evident that Google takes their values extremely seriously, and holds their employees to the highest standards. Google also mentions that they revisit their values to ensure they are still in keeping with the company’s goals and mission, and they’ve done so multiple times since they were first written when Google was a few years old.

7. Kellogg’s

Kellogg’s is another quintessential American brand. Kellogg’s six core values represent the type of employees they want to attract, the businesses they want to work with, and the types of products that will fit consumers’ needs:

• Accountability

Kellogg’s strong commitment to its values have won the company significant accolades. In terms of diversity, Kellogg’s was one of the 50 best companies for diversity according to Black Enterprise, and it was included in the Diversity, Inc. lists for the top 50 companies for veterans and LGBT employees in 2018. Not only that, the United States Environmental Protection Agency deemed Kellogg a 2030 Food Loss & Waste Champion, and Ethisphere called Kellogg’s one of the World’s Most Ethical Companies.

With thousands of people employed across the globe, it was imperative to align employees around Kellogg’s vision. Melissa Howell, Chief Human Resources Officer at Kellogg’s, describes how they did so:

“How do we align our employees around the vision at Kellogg’s? One of the biggest things around that is reinforcing behaviors and reinforcing success. And the best way to do that is a global [recognition] platform [. . .] because everyone can see how people are modeling the behaviors that help drive our success at Kellogg’s.”

Within four months of launching their recognition program with Achievers , Kellogg’s has seen over 80,000 employee recognitions sent. The platform made it easy for everyone to recognize colleagues who are modeling behavior that leads to success and reinforces Kellogg’s values.

Meijer is a large grocery store chain based in the Midwest that has provided nutritious, fresh food since 1934. As such, their values emphasize the importance of making customers happy, selling the freshest products, and keeping up with the fast pace of the grocery industry while maintaining a superior level of safety:

• Competition
• Safety & Health

To ensure that their company values are actually put into practice, Meijer implemented a platform which allowed their employees to recognize each other’s efforts on a global scale and tie each recognition to one of their core principles. It even implemented several specific recognition programs tied to efforts that reflected these values, like leading safety initiatives or coming up with fresh, innovative ideas. By focusing on their values, Meijer tangibly strengthened the sense of connection and belonging in each of its stores, and it also increased customer satisfaction in stores with higher recognition rates.

Olympus Australia Pty Ltd is a subsidiary of the Olympus Corporation and is responsible for marketing and distributing Olympus’ line of innovative products to medical, consumer, and scientific businesses in Australia and New Zealand. Olympus’ goal is to make people’s lives healthier, safer, and more fulfilling by practicing and living their core values:

• Unity: We are strongest when we work together as a team.
• Integrity: We are trustworthy and act in good faith.
• Empathy: We care about all of our stakeholders.
• Long-Term View: We look beyond the present to deliver future value.
• Agility: We challenge the status quo with open minds, focus, and speed.

In accordance with their values, Olympus has committed $100,000 annually to their five long-term charity partners. It has also engaged in internal environmental initiatives, including implementing an integrated Quality and Environmental Management System. Olympus also adopted a recognition platform that let it more closely align its corporate values with its recognition and rewards program. Olympus realized incredible benefits from its new platform, seeing a 102 percent increase in total recognition activity and an increase in its favorable engagement score from 34 percent to 63 percent.

10. Power Design

Power Design Inc. is a family-run business that has become one of America’s leading electrical contractors and a one-stop shop for all things in the multi-family market. It has been recognized as one of the country’s top workplaces by Inc. and Fortune magazines. Their values reflect their dedication to delivering quality service, building lasting relationships, and holding themselves accountable:

• Integrity: We make responsible decisions based on professional standards.
• Innovation: We encourage thoughtful, creative and inspirational ideas.
• Teamwork: We build better when we work together.
• Growth: We develop professionally through expanding our capabilities with innovative training.
• Accountability: We empower each other to take ownership of our actions.

Power Design puts these values into action through a series of charitable programs called Project V5, which donates cash from recycled wire across the nation to charities chosen by employees. And in an effort to herald their employees’ achievements, they implemented a unified, agile recognition solution that allowed for nationwide accessibility, mobile recognition, and visibility across the company. With its new recognition program, rave (Recognizing Achievements Values and Excellence), Power Design is well on its way to 100 percent activation and participation, with 89 percent of its employees actively using rave and 70 percent logging in at least once a month.

11. Salesforce

Salesforce is a customer relationship management tool that combines data from multiple departments to create a shared view of every single one of their clients’ customers. Salesforce’s values are unique because they are heavily focused on the customer and employee experience. They refer to their employee and customer base as their “Ohana,” or family, and they are very passionate about delivering on their values, which include:

• Customer Success

Salesforce walks the walk by instilling trust in their employees right off the bat. They support the growth of their employees with things like ”Cultivating Your Career” workbooks, and Salesforce also has a Chief Equality Officer and an Office of Equality to foster equality internally and externally, with the chief purpose of driving innovation.

• Make company values a part of daily life

According to the Achievers Engagement and Retention Report , 45 percent of employees say that their leadership is “minimally” or “not at all” committed to improving company culture. Leaders need to focus on building a culture that aligns with company values to motivate their employees .

Recognizing employees who embody your company values connects your workforce and unites them in support of your culture. Achievers data shows that every time organizations double the number of recognitions in their organization, their overall engagement is expected to go up five percentage points , which is linked to a three point increase in revenue growth the following year. And companies with culture alignment are six times more profitable .

By regularly acknowledging employees in a public way, companies can honor ongoing achievements and  Achievers Recognize simplifies the end-to-end recognition process, allowing users to tie every recognition to a company value.

Many of the companies listed above use Achievers to drive their business forward, and Achievers recognizes them for their exceptional employee engagement. Join the elite group of organizations whose company values instill trust in their employees, customers, shareholders, and partners by requesting a demo of Achievers Recognize today.

Discover the direct connection between employee recognition and employee retention

See workforce trends - 6th annual Engagement and Retention Report

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• Company core values FAQ

Can culture influence core values, or are they universal?

While core values may exist across societies, their interpretation and application can differ in emphasis and detail. For instance, the concept of “honesty” might take different forms depending on the culture. In Western cultures, direct communication is often valued, while some Eastern cultures prioritize more indirect and polite ways of expressing the same thing.

Why are core values important in personal development?

Core values are important in personal development because they create alignment between an employee’s unique values and skills, and what matters to the company. This alignment fosters a sense of purpose and meaning in work, as employees see how their unique contributions connect to the organization’s goals.

Can core values change over time?

Core values are the bedrock of a company’s identity. However, as companies evolve and as the marketplace shifts, the values and beliefs can also change. Companies need to periodically re-evaluate their core values to ensure it doesn’t go stale.

How many core values should a company have?

There is no magic number of core values for any given company. While 4-7 values can be a good starting point, clarity and alignment with company culture are key. Choosing values that inspires and reflects the vision of the organization is more important than the exact number.

How do you develop company core values?

Developing strong company core values starts with an assessment of your organization’s culture , vision, and mission. Next, gather appropriate leaders and employees to brainstorm values that resonate with your vision. Remember, effective values are short, specific, unique, and address both internal and external goals.

How do you share your company values with your team?

Embedding core values throughout the employee journey is crucial. Start by integrating them into job descriptions, onboarding processes, and manager check-ins. Use newsletters and other communication channels to reinforce them regularly. Recognizing employees who exemplify these values is also a powerful way to further solidify desired behaviors.

In this article:

• What are company core values? What are examples of core values in a company?

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Written by Jesse Sumrak | May 14, 2023

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Business plans might seem like an old-school stiff-collared practice, but they deserve a place in the startup realm, too. It’s probably not going to be the frame-worthy document you hang in the office—yet, it may one day be deserving of the privilege.

Whether you’re looking to win the heart of an angel investor or convince a bank to lend you money, you’ll need a business plan. And not just any ol’ notes and scribble on the back of a pizza box or napkin—you’ll need a professional, standardized report.

Bah. Sounds like homework, right?

Yes. Yes, it does.

However, just like bookkeeping, loan applications, and 404 redirects, business plans are an essential step in cementing your business foundation.

Don’t worry. We’ll show you how to write a business plan without boring you to tears. We’ve jam-packed this article with all the business plan examples, templates, and tips you need to take your non-existent proposal from concept to completion.

Table of Contents

What Is a Business Plan?

Tips to Make Your Small Business Plan Ironclad

How to Write a Business Plan in 6 Steps

Startup Business Plan Template

Business Plan Examples

Work on Making Your Business Plan

How to Write a Business Plan FAQs

What is a business plan why do you desperately need one.

A business plan is a roadmap that outlines:

• Who your business is, what it does, and who it serves
• Where your business is now
• Where you want it to go
• How you’re going to make it happen
• What might stop you from taking your business from Point A to Point B
• How you’ll overcome the predicted obstacles

While it’s not required when starting a business, having a business plan is helpful for a few reasons:

• Secure a Bank Loan: Before approving you for a business loan, banks will want to see that your business is legitimate and can repay the loan. They want to know how you’re going to use the loan and how you’ll make monthly payments on your debt. Lenders want to see a sound business strategy that doesn’t end in loan default.
• Win Over Investors: Like lenders, investors want to know they’re going to make a return on their investment. They need to see your business plan to have the confidence to hand you money.
• Stay Focused: It’s easy to get lost chasing the next big thing. Your business plan keeps you on track and focused on the big picture. Your business plan can prevent you from wasting time and resources on something that isn’t aligned with your business goals.

Beyond the reasoning, let’s look at what the data says:

• Simply writing a business plan can boost your average annual growth by 30%
• Entrepreneurs who create a formal business plan are 16% more likely to succeed than those who don’t
• A study looking at 65 fast-growth companies found that 71% had small business plans
• The process and output of creating a business plan have shown to improve business performance

Convinced yet? If those numbers and reasons don’t have you scrambling for pen and paper, who knows what will.

Don’t Skip: Business Startup Costs Checklist

Before we get into the nitty-gritty steps of how to write a business plan, let’s look at some high-level tips to get you started in the right direction:

Be Professional and Legit

You might be tempted to get cutesy or revolutionary with your business plan—resist the urge. While you should let your brand and creativity shine with everything you produce, business plans fall more into the realm of professional documents.

Think of your business plan the same way as your terms and conditions, employee contracts, or financial statements. You want your plan to be as uniform as possible so investors, lenders, partners, and prospective employees can find the information they need to make important decisions.

If you want to create a fun summary business plan for internal consumption, then, by all means, go right ahead. However, for the purpose of writing this external-facing document, keep it legit.

Know Your Audience

Your official business plan document is for lenders, investors, partners, and big-time prospective employees. Keep these names and faces in your mind as you draft your plan.

Think about what they might be interested in seeing, what questions they’ll ask, and what might convince (or scare) them. Cut the jargon and tailor your language so these individuals can understand.

Remember, these are busy people. They’re likely looking at hundreds of applicants and startup investments every month. Keep your business plan succinct and to the point. Include the most pertinent information and omit the sections that won’t impact their decision-making.

Invest Time Researching

You might not have answers to all the sections you should include in your business plan. Don’t skip over these!

Your audience will want:

• Detailed information about your customers
• Numbers and solid math to back up your financial claims and estimates
• Deep insights about your competitors and potential threats
• Data to support market opportunities and strategy

Your answers can’t be hypothetical or opinionated. You need research to back up your claims. If you don’t have that data yet, then invest time and money in collecting it. That information isn’t just critical for your business plan—it’s essential for owning, operating, and growing your company.

Stay Realistic

Your business may be ambitious, but reign in the enthusiasm just a teeny-tiny bit. The last thing you want to do is have an angel investor call BS and say “I’m out” before even giving you a chance.

The folks looking at your business and evaluating your plan have been around the block—they know a thing or two about fact and fiction. Your plan should be a blueprint for success. It should be the step-by-step roadmap for how you’re going from Point A to Point B.

How to Write a Business Plan—6 Essential Elements

Not every business plan looks the same, but most share a few common elements. Here’s what they typically include:

• Executive Summary
• Business Overview
• Products and Services
• Market Analysis
• Competitive Analysis
• Financial Strategy

Below, we’ll break down each of these sections in more detail.

1. Executive Summary

While your executive summary is the first page of your business plan, it’s the section you’ll write last. That’s because it summarizes your entire business plan into a succinct one-pager.

Begin with an executive summary that introduces the reader to your business and gives them an overview of what’s inside the business plan.

Your executive summary highlights key points of your plan. Consider this your elevator pitch. You want to put all your juiciest strengths and opportunities strategically in this section.

2. Business Overview

In this section, you can dive deeper into the elements of your business, including answering:

• What’s your business structure? Sole proprietorship, LLC, corporation, etc.
• Where is it located?
• Who owns the business? Does it have employees?
• What problem does it solve, and how?
• What’s your mission statement? Your mission statement briefly describes why you are in business. To write a proper mission statement, brainstorm your business’s core values and who you serve.

Don’t overlook your mission statement. This powerful sentence or paragraph could be the inspiration that drives an investor to take an interest in your business. Here are a few examples of powerful mission statements that just might give you the goosebumps:

• Patagonia: Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis.
• Tesla: To accelerate the world’s transition to sustainable energy.
• InvisionApp : Question Assumptions. Think Deeply. Iterate as a Lifestyle. Details, Details. Design is Everywhere. Integrity.
• TED : Spread ideas.
• Warby Parker : To offer designer eyewear at a revolutionary price while leading the way for socially conscious businesses.

3. Products and Services

As the owner, you know your business and the industry inside and out. However, whoever’s reading your document might not. You’re going to need to break down your products and services in minute detail.

For example, if you own a SaaS business, you’re going to need to explain how this business model works and what you’re selling.

You’ll need to include:

• What services you sell: Describe the services you provide and how these will help your target audience.
• What products you sell: Describe your products (and types if applicable) and how they will solve a need for your target and provide value.
• How much you charge: If you’re selling services, will you charge hourly, per project, retainer, or a mixture of all of these? If you’re selling products, what are the price ranges?

4. Market Analysis

Your market analysis essentially explains how your products and services address customer concerns and pain points. This section will include research and data on the state and direction of your industry and target market.

This research should reveal lucrative opportunities and how your business is uniquely positioned to seize the advantage. You’ll also want to touch on your marketing strategy and how it will (or does) work for your audience.

Include a detailed analysis of your target customers. This describes the people you serve and sell your product to. Be careful not to go too broad here—you don’t want to fall into the common entrepreneurial trap of trying to sell to everyone and thereby not differentiating yourself enough to survive the competition.

The market analysis section will include your unique value proposition. Your unique value proposition (UVP) is the thing that makes you stand out from your competitors. This is your key to success.

If you don’t have a UVP, you don’t have a way to take on competitors who are already in this space. Here’s an example of an ecommerce internet business plan outlining their competitive edge:

FireStarters’ competitive advantage is offering product lines that make a statement but won’t leave you broke. The major brands are expensive and not distinctive enough to satisfy the changing taste of our target customers. FireStarters offers products that are just ahead of the curve and so affordable that our customers will return to the website often to check out what’s new.

5. Competitive Analysis

Your competitive analysis examines the strengths and weaknesses of competing businesses in your market or industry. This will include direct and indirect competitors. It can also include threats and opportunities, like economic concerns or legal restraints.

The best way to sum up this section is with a classic SWOT analysis. This will explain your company’s position in relation to your competitors.

6. Financial Strategy

Your financial strategy will sum up your revenue, expenses, profit (or loss), and financial plan for the future. It’ll explain how you make money, where your cash flow goes, and how you’ll become profitable or stay profitable.

This is one of the most important sections for lenders and investors. Have you ever watched Shark Tank? They always ask about the company’s financial situation. How has it performed in the past? What’s the ongoing outlook moving forward? How does the business plan to make it happen?

Answer all of these questions in your financial strategy so that your audience doesn’t have to ask. Go ahead and include forecasts and graphs in your plan, too:

• Balance sheet: This includes your assets, liabilities, and equity.
• Profit & Loss (P&L) statement: This details your income and expenses over a given period.
• Cash flow statement: Similar to the P&L, this one will show all cash flowing into and out of the business each month.

It takes cash to change the world—lenders and investors get it. If you’re short on funding, explain how much money you’ll need and how you’ll use the capital. Where are you looking for financing? Are you looking to take out a business loan, or would you rather trade equity for capital instead?

Read More: 16 Financial Concepts Every Entrepreneur Needs to Know

Startup Business Plan Template (Copy/Paste Outline)

Ready to write your own business plan? Copy/paste the startup business plan template below and fill in the blanks.

Executive Summary Remember, do this last. Summarize who you are and your business plan in one page.

Business Overview Describe your business. What’s it do? Who owns it? How’s it structured? What’s the mission statement?

Products and Services Detail the products and services you offer. How do they work? What do you charge?

Market Analysis Write about the state of the market and opportunities. Use date. Describe your customers. Include your UVP.

Competitive Analysis Outline the competitors in your market and industry. Include threats and opportunities. Add a SWOT analysis of your business.

Financial Strategy Sum up your revenue, expenses, profit (or loss), and financial plan for the future. If you’re applying for a loan, include how you’ll use the funding to progress the business.

5 Frame-Worthy Business Plan Examples

Want to explore other templates and examples? We got you covered. Check out these 5 business plan examples you can use as inspiration when writing your plan:

• SBA Wooden Grain Toy Company
• SBA We Can Do It Consulting
• OrcaSmart Business Plan Sample
• Plum Business Plan Template
• PandaDoc Free Business Plan Templates

Get to Work on Making Your Business Plan

If you find you’re getting stuck on perfecting your document, opt for a simple one-page business plan —and then get to work. You can always polish up your official plan later as you learn more about your business and the industry.

Remember, business plans are not a requirement for starting a business—they’re only truly essential if a bank or investor is asking for it.

Ask others to review your business plan. Get feedback from other startups and successful business owners. They’ll likely be able to see holes in your planning or undetected opportunities—just make sure these individuals aren’t your competitors (or potential competitors).

Your business plan isn’t a one-and-done report—it’s a living, breathing document. You’ll make changes to it as you grow and evolve. When the market or your customers change, your plan will need to change to adapt.

That means when you’re finished with this exercise, it’s not time to print your plan out and stuff it in a file cabinet somewhere. No, it should sit on your desk as a day-to-day reference. Use it (and update it) as you make decisions about your product, customers, and financial plan.

Review your business plan frequently, update it routinely, and follow the path you’ve developed to the future you’re building.

Keep Learning: New Product Development Process in 8 Easy Steps

What financial information should be included in a business plan?

Be as detailed as you can without assuming too much. For example, include your expected revenue, expenses, profit, and growth for the future.

What are some common mistakes to avoid when writing a business plan?

The most common mistake is turning your business plan into a textbook. A business plan is an internal guide and an external pitching tool. Cut the fat and only include the most relevant information to start and run your business.

Who should review my business plan before I submit it?

Co-founders, investors, or a board of advisors. Otherwise, reach out to a trusted mentor, your local chamber of commerce, or someone you know that runs a business.

Ready to Write Your Business Plan?

Don’t let creating a business plan hold you back from starting your business. Writing documents might not be your thing—that doesn’t mean your business is a bad idea.

Let us help you get started.

Join our free training to learn how to start an online side hustle in 30 days or less. We’ll provide you with a proven roadmap for how to find, validate, and pursue a profitable business idea (even if you have zero entrepreneurial experience).

Stuck on the ideas part? No problem. When you attend the masterclass, we’ll send you a free ebook with 100 of the hottest side hustle trends right now. It’s chock full of brilliant business ideas to get you up and running in the right direction.

About Jesse Sumrak

Jesse Sumrak is a writing zealot focused on creating killer content. He’s spent almost a decade writing about startup, marketing, and entrepreneurship topics, having built and sold his own post-apocalyptic fitness bootstrapped business. A writer by day and a peak bagger by night (and early early morning), you can usually find Jesse preparing for the apocalypse on a precipitous peak somewhere in the Rocky Mountains of Colorado.

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100 Team Core Values Examples to Help You Build a Strong Company Culture

Content Partnership Specialist

March 29, 2024

What do you value as a company? 

This is a question that many business owners struggle with. It can be tough to come up with a list of core values that represents your organization accurately, but it’s important to get this right. 

Your corporate values are the foundation of your workplace culture—they let others get an inside look at who you are as a company, and can have a huge impact on your recruiting and hiring efforts, employee engagement , and overall success. 

So, to help inspire your company and define your work culture, here are 50 common core values examples for your team and 50 core values examples from successful companies across different industries to inspire your even further. Whether you’re just starting out or you’ve been in business for years, these 100 examples will give you some inspiration for determining what’s important to you and your team!

• How Company Core Values Can Help Your Business
• 50 Common Core Value Examples for your Business

Company Core Value Statement Example

50 of the most inspiring company core values examples for your team.

• Define and Live By Your Core Value Statement   

How Company Core Values Can Help Your Team

In simple terms, core values are your organization’s collective and fundamental beliefs, vision, mission, personal and work ethics, and core principles. 

It’s your company’s personality, the DNA of your organization, the reason why your company exists, and the north star that continuously guides your business toward your mission and vision. And in order to move your business forward in the right direction, teams across different departments will need to work together, believe in the same values, and practice them consistently at work. 

So if you’re asking yourself, “Why does any of this matter?” Here are a few reasons why:

• Performance : Teams feel empowered to perform at their best when core values align with corporate strategy and goals. 
• Talent Acquisition : Your organizational culture can help prospective employees decide if your company matches their personal core values, priorities, and goals when searching for a new position.
• Competitiveness : Knowing what the company stands for makes you more competitive in the marketplace and as an employer.
• Business Decisions : Knowing your company’s culture can help executives and project managers make informed decisions and take smarter calculated risks.

Check out the list below for common core values you can choose from to shape your team!

50 Team Core Value Examples for your Business

1. Respect and Integrity 2. Quality 3. Innovation 4. Teamwork 5. Accountability 6. Transparency 7. Collaboration 8. Continuous Learning 9. Positivity 10. Loyalty 11. Empathy 12. Inclusivity 13. Creativity 14. Passion 15. Honesty 16. Diversity 17. Adaptability 18. Flexibility 19. Open-mindedness 20. Communication 21. Respect for Individuality 22. Punctuality 23. Fun 24. Gratitude 25. Professionalism

26. Proactivity 27. Problem-solving 28. Self-improvement 29. Commitment to Excellence 30. Objectivity 31. Positive Attitude 32. Ambitiousness 33. Quality of Service 34. Excellence 35. Reliability 36. Honoring Commitments 37. Growth Mindset 38. Balance of Work/Life 39. Focusing on Solutions 40. Going Above and Beyond 41. Respect for Privacy 42. Listening to Customers 43. Pursuing Growth Opportunities 44. Resourcefulness 45. Self-awareness 46. Collaboration 47. Teamwork 48. Willingness to Learn 49. Developing Professional Networks 50. Becoming an Expert in Your Field

A core value statement is a declaration of the principles that guide how a company operates and behaves. Our core values are not just words on paper; they shape our culture and define who we are as a team. Here’s an example:

At our company, we are committed to upholding the following core values:

• Innovation: We believe in constantly pushing the boundaries and exploring new ideas to provide our customers with cutting-edge technology solutions that exceed their expectations.
• Integrity: We value honesty, transparency, and ethical behavior in all aspects of our business, from our interactions with customers to our internal decision-making processes .
• Collaboration: We believe that teamwork and collaboration are essential to achieving our goals and creating a positive work environment where everyone feels valued and supported.
• Continuous improvement: We are committed to continuously learning and improving our skills and processes to provide the best possible solutions and services for our customers.
• Customer focus: We prioritize our customers’ needs and satisfaction above all else, and strive to provide personalized and exceptional service that exceeds their expectations.

We believe that by consistently embodying these values in our work, we can achieve our mission of becoming a leading technology solutions provider while providing a positive impact on our customers, employees, and society as a whole.

Use this core value statement template to craft your company’s core values statement:

At [Company Name], we are committed to upholding the following core values:

• [Description or explanation of how this value is important to our company]

We believe that by consistently embodying these values in our work, we can achieve our mission and provide the best possible experience for our customers, employees, and stakeholders.

Pro Tip: Make it easy for team members to find your company core values with ClickUp’s Company Culture Template !

Now, it’s time to explore some of the best and most common core values that have shaped some of the most successful companies today. Here are 50 companies and their top values!

Core values:

Deliver the best customer experience

We are customer obsessed and create space for open communication and feedback, and empower ourselves to fix problems and say yes, with collective customer interest in mind. This value applies internally as well when working cross-functionally with other teams! 

Grow 1% every day

We support the professional growth of our crew and believe in progress toward perfection. We hold ourselves back by trying to get it perfect when the fastest growth is incremental, and we’re not afraid to fail lightly, as long as we learn and don’t repeat the same mistakes. 

Have fun, find joy, and be you

Personal core values and well-being are important to us, and with big goals comes hard work, but time is too precious not to have fun along the way. We promote a fun company culture through team building , encourage our crew to strive for greatness, transparency, and respect, and create a safe space to show up and be vulnerable, bold, daring truly, agree, disagree, laugh, cry, experiment, and play. 

Work hard and be an owner

We enjoy work, think in creative ways of solving problems, see the compounding fruits of our labor, and assume shared ownership in decisions, issues, and outcomes.

Normal f*cking sucks

We strive to build an organization that encourages freedom and responsibility. And while everyone has goals to accomplish, we encourage our crew to have creative freedom on how to achieve that goal in ways that make sense to them. 

Pay it forward with random acts of kindness

We create and sustain a safe and supportive culture and help out whenever we can. We encourage our crew to check in with your people and keep your finger on the pulse of how they are doing not only professionally but also personally, which forms open and honest relationships among peers. 

Promote empathy

Encourages leaders and representatives to be empathetic and courteous to each other and their customers

Accelerate craftsmanship

Show integrity and take accountability for all actions

Support diversity in the workplace

Promote harmony, provide equal opportunities, and practice inclusion through internal programs

Check out the best Slack integrations !

Accessibility 

We believe in providing consumers, small businesses , and other organizations access to hardware, software, services, and technology that are needed to achieve their goals

Support education

Education gives everyone more ways to realize their potential; that’s why we are committed to providing people from all backgrounds to learn through partnerships in over 100 countries

Inclusivity, racial equity, and justice  

As a global leader, Apple acknowledges its responsibility to help promote equality and fight against injustices worldwide. 

Genuine 

We are sincere, trustworthy, and reliable.

We’re highly creative and always striving to connect new ideas with business realities.

Involved 

We’re inclusive, open, and actively engaged with our customers, partners, employees, and the communities we serve.

5. LinkedIn

Trust and care

Create trust by practicing integrity, compassion, honesty, and respect.

Keep a growth mindset to create big ideas, while also providing value and finding joy in everyday interactions.

Valuing workforce  

Prioritize each employee’s success to help develop leaders and productive teams.

We’re original and creative in our thinking. To us, innovation is a default mindset – a hard-wired desire to improve things.

The best relationships are based on mutual trust and respect. We want to be fair and transparent in everything we do. We don’t micro-manage; we trust each other to do a great job.

Playful 

We say yes to fun. We’re a playful company and a playful brand. We always have been. We never take ourselves too seriously.

Wow our customers

We go above and beyond to serve others with high-quality products and hospitality they can rely on. We work hard to leave our customers with a smile.

All-in ownership

We have grit. There is no job too small, nor challenge too big. We are all in. We think long-term and always optimize for Lyft as a whole. We never say, “that’s not my job.”

Take pride, be humble

We take pride in our work, and whatever we do, we do it well. We assess our own work critically, and we’re the first to call out our shortcomings, and continuously push ourselves and others to improve and set a higher bar.

Champion the mission

We’re united with our community to create a world where anyone can belong anywhere.

Embrace the adventure

We’re driven by curiosity, optimism, and the belief that every person can grow.

Be a cereal entrepreneur

We’re determined and creative in transforming our bold ambitions into reality.

9. National Parks

Truthfulness

When the employees are honest, it automatically reflects on our work.

Team spirit and continuous learning

We believe in Kaizen, a Japanese concept in which everyone on the team contributes to continuous improvement.

Being open to feedback and showing respect to others 

We work to inspire and develop conservation and protection of the world’s natural resources found within national parks through education, promotion, and global community awareness.  To achieve this the company’s culture plays a big role. These company values help us become more inclusive and contribute to the company’s growth.

10. Starbucks

Culture of warmth

We believe in creating a culture of warmth and belonging, where everyone is welcome 

Accountability

Delivering our very best in all we do, holding ourselves accountable for results.

Be present 

Being present, connecting with transparency, dignity, and respect.

11. Salesforce

We act as trusted advisors and earn the trust of our customers, employees, and extended family through transparency, security, compliance, privacy, and performance

Customer Success

We innovate and expand our business offerings to provide all our stakeholders with new avenues to achieve ever-greater success.

Equality 

Hearing diverse perspectives fuels innovation, deepens connections between people, and makes us a better company.

Integrate ClickUp with Salesforce !

12. Donorbox

Creative leadership

We encourage development and innovation through research and audacious action

Passion for progress

We have a strict focus on excellence and effect

Responsibility

We behave with decency, morality, and consideration

Remaining faithful to our principles offers us meaning. It helps people make difficult choices with clarity and draws a large group of people who value honesty over dishonesty.  These values shape the culture at our company because it allows all the employees to have a drive and passion for succeeding in every aspect and lead creatively while focusing on continuous action and being gracious and considerate of others.

Inclusivity

We value diverse voices and approaches. We act with authenticity and respect. We create equitable experiences for all.

We build trusted relationships. We collaborate across business functions. We recognize and celebrate progress.

We do what is right for Target, our team & guests. We deliver results that matter. We continually learn by valuing progress over perfection.

14. Netflix

Honest and productive feedback

Meaningful feedback can be hard to give or accept. But like any new habit, it gets easier with practice. So we help people learn to give and receive feedback through coaching and modeling the behaviors we want to see across the company.

Freedom and responsibility

Our goal is to inspire people more than manage them. We want our teams to do what is best for Netflix. This, in turn, generates a sense of responsibility, accountability, and self-discipline that drives us to do great work. 

People over process

Our people-first approach allows us to build a dream team and be more flexible, creative, and successful in everything we do.

15. Ling App

Data-driven

 We rely on data to drive our decisions.

Curious with an open mind

We view every day as a new learning opportunity and use open feedback to improve ourselves.

Entrepreneurial attitude

We try new things. We move fast.

Creating these core values has strengthened not only our work culture, but our business decisions and determination to work toward a common goal.  At our quarterly meetings, we use these company values as team-building activity guidelines and ask our team to rate our company on a scale of 1-10 based on these values and explain their answers.

16. Hubspot

At HubSpot, you’re encouraged to think like a founder and take ownership. We believe amazing people should be trusted to do amazing work.

Transparency 

There’s no inner circle at HubSpot. We share information openly and often so that employees can make decisions and drive impact for our customers.

Flexibility 

We’ve always believed results matter more than where or when they’re produced. HubSpotters have the flexibility to work remotely, take unlimited vacations, and build a work-life “fit” that matches their personal and professional goals.

We are all on the same team working towards the same goal, and everyone is open to learning from each other. This creates a culture of compassion and empathy. 

Transparency

We want to hear the good, the bad, and the ugly so we can continue to improve as a team. This makes our workplace a safe and trust-filled environment. 

We are passionate about our work and persevere through difficult times. We use our failures to learn and grow. 

Our core values are what keep us grounded as a team.  We check our egos at the door, believe in open communication, deeply care about the team and people we serve, practice accountability and resilience, and never give up when times get tough.

Give and take responsibility

We believe in empowering people. Giving and taking responsibility are ways to grow and develop as individuals. Trusting each other, and being positive and forward-looking inspires everyone to contribute to development.

Renew and improve

We are constantly looking for new and better ways forward. Whatever we are doing today, we can do better tomorrow. Finding solutions to almost impossible challenges is part of our success and a source of inspiration to move on to the next challenge.

Lead by example

We see leadership as an action, not a position. We look for personal values before competence and experience. People who ‘walk the talk’ and lead by example. It’s about being our best selves and bringing out the best in each other.

Our team members are always looking for new ways to improve and grow, and they are constantly pushing themselves to be the best. 

Kindness 

Our team members are always looking out for one another, and they are quick to offer help when needed. 

We strive to produce the best results possible, and we are always working to improve our performance. 

Our values shape our culture in a number of ways.  First, we believe that hustle fosters a spirit of determination and grit.  Second, we believe that kindness is essential in creating a supportive and inclusive workplace.  Finally, we believe that excellence is the cornerstone of our success.  These core values have helped to shape our culture into one that is ambitious, compassionate, and driven by success

Focus on the user and all else will follow

Since the beginning, we’ve focused on providing the best user experience possible. Whether we’re designing a new Internet browser or a new tweak to the look of the homepage, we take great care to ensure that they will ultimately serve you, rather than our own internal goal or bottom line.

It’s best to do one thing really, really well

With one of the world’s largest research groups focused exclusively on solving search problems, we know what we do well, and how we could do it better.

You can be serious without a suit

Our founders built Google around the idea that work should be challenging, and the challenge should be fun. We believe that great, creative things are more likely to happen with the right company culture.

Love your craft

We build for builders and try to make complex things feel simple. We ask why until we get to the core and continually focus on solving the right problem, not just shipping work.

Grow as you go

Everyone’s a work in progress, and we’re here to help each other grow.

Run with it

Building Figma is about taking initiative, being bold, and charting a new course, not running a playbook. Figmates are building the future of design by tackling big, scary, exciting challenges like Figma’s future depends on it. Because it does.

22. American Express

We respect people

We trust and respect one another for who we are and what we contribute. We are accountable to one another and empower every voice through open, courageous dialogue, so others feel heard.

We back our customers 

Relationships are at the heart of our business. We strive to be essential to our customers by delivering exceptional products, services, and experiences every day – and promise to have their backs in everything we do.

We do what’s right 

Customers choose us because they trust our brand and people. We earn that trust by ensuring everything we do is reliable, consistent, and with the highest level of integrity.

23. Techtopia

We are committed to doing what is right and being truthful about it, even when it’s not easy or popular. This value guides our actions and decisions. 

When we work together, we create an environment of trust and respect that allows us to challenge and push each other to improve.

We believe that to stay relevant and successful, we must evolve and find new ways to do things constantly.

Honesty is our founding principle and the cornerstone of our business. We believe that being honest with our clients, suppliers, and each other is the only way to do business.  Our team is full of passionate individuals who share the same goal: to be the best at what we do, be open to new ideas, take risks, and always have a student mindset.  It’s what keeps us fresh, relevant, and ahead of the curve .

24. Headspace

Selfless drive

We accelerate each other and are accountable to each other to deliver on our vision.

Courageous heart

We bravely go to new places, knowing we have the support of our team.

Curious mind

We learn that when we listen to others, we cultivate the curiosity and empathy to unlock innovation.

Leaders are owners. They think long-term and don’t sacrifice long-term value for short-term results. They act on behalf of the entire company, beyond just their own team. They never say “that’s not my job.”

Learn and be curious 

Leaders are never done learning and always seek to improve themselves. They are curious about new possibilities and act to explore them

Invent and simplify

Leaders expect and require innovation and invention from their teams and always find ways to simplify. They are externally aware, look for new ideas from everywhere, and are not limited by “not invented here.” As we do new things, we accept that we may be misunderstood for long periods.

26. Rank Secure

Honesty and transparency

We have transparency in our dealings with both employees and customers, and that builds trust. 

Building lasting relationships with customers 

Communicating effectively, addressing their concerns, and offering solutions to build rapport and create loyalty. 

Our values emphasize that which carries on with every one of our employees and how they do things both within the office and with customers. We have transparency in our dealings with both employees and customers, and that builds trust.  The overall culture is that we should make a difference while we’re here because, in the scheme of things, life is pretty short.

27. Semrush

It’s what you have here by default. Speak up and be your true self

Sense of Ownership  

We all share the desire to set things into motion. Drive the projects you find meaning in, because it’s not worth wasting time on

Constant Changes

We are always looking to make things better. Change is exhilarating, it doesn’t have to be scary.

Responsibility 

Stands for our commitment to our people, customers, partners, and the environment

Simplicity 

Creates efficiency, clarity, and clear direction within our organization as well as for our customers.

Consistency

We mean what we say. We are consistent in our dealings with people, products, price, and all other aspects of our day-to-day professional life.

We have a hybrid flexible schedule giving agency for each employee to construct their own work-life balance. 

Valuing what everyone brings to their role and the company.

Support learning to allow innovation and continue growing as an entire organization.

We hold monthly “lunch and learn” where we highlight a different employee to share their knowledge with the rest of the company. Valuing what everyone brings to their role and the company embraces humility and a willingness to keep learning and growing.  Combining our flexibility to keep our team members motivated with a culture that supports learning and growing means that our company can continue innovating. There is no growth without enough humility to be willing to change first

30. Trader Joe’s

Caring for the community

Through our longstanding Neighborhood Shares Program, our stores donate products that go unsold but remain fit to be enjoyed to local food recovery agencies.

Sustainability 

More than ever, sustainability has been a central focus in our work as your neighborhood grocery store.

Integrity 

We are dedicated to providing an environment that is safe, welcoming, inclusive, and respectful for all Crew Members and customers.

31. Fig Loans

Core values: .

Value our customers’ time

We are efficient and transparent, which builds real, trusting relationships with our customers.

Offer genuine help

We provide paths to financial stability for all.

Deliver quality service

We stand behind our commitment to offering financial products to our customers in a socially responsible way.

Our core values shape our identity as an organization. We aim to center everything we do around our customers, allowing us to build a cultured team based on genuine help.  Finally, we stand by our principle of customer satisfaction first, then profits next, which compels us to deliver quality service at every customer touchpoint.

32. Mayo Clinic

The first value shows the clinic‘s aim to adhere to the high standards of ethics, professionalism, and personal responsibility so that patients trust the healthcare center.

We inspire hope and nurture people’s well-being by respecting their emotional, physical, and spiritual needs.

We believe in “giving respect to get respect.” That is why it cultivates the value of treating everyone in a diverse community with respect and dignity. It includes patients, colleagues, and their families.

Never stop innovating

With anything we do, we react quickly, and strategically, and always think about the future—we’re committed to pushing the boundaries of transformation with smart solutions driven by customer needs.

Act with integrity 

Integrity is about honesty, decency, and respect that we exhibit every day as we work with each other, our customers, our partners, and the extended community.

Empower our people 

We want every employee to know that Okta belongs to them and that they have a stake in our shared wins.

34. Crediful  

Commitment to customers

We expect our team to work with the customers to find the best solutions for them. 

Constant learning

The field we work in is constantly evolving, and it is vital to the business that the team evolves with it.

We believe that talent is to be found in people of every description. 

To ensure that we offer the very best service, everyone in the business must keep themselves up to date with the latest developments. At the same time, this also helps the employees to develop their own skill sets.  Moreover, we are very strict about who we accept in our business regardless of race, ethnicity, gender, age, or disability. They have been employed because they are skilled at what they do; if anyone cannot accept this, they are not welcome in the business.”

35. Soul Cycle

We’re a community 

We’re passionate participants and leaders within our communities. We work together to create a sanctuary where all are celebrated.

We embrace change

We adapt, enhance, and evolve as we grow, welcome feedback, and approach every challenge with an open mind and heart.

We recharge

We adapt, enhance, and evolve as we grow. We welcome feedback and approach every challenge with an open mind and heart.

36. Marriott

Put people first

Take care of associates, and they will take care of the customers.

We hold ourselves to uncompromising ethical and legal standards. This extends to our day-to-day business conduct, our employee policies, our supply chain policies, our environmental programs and practices, and our commitment to human rights and social responsibility.

Embrace change

We’re driven to continually challenge the status quo and anticipate our customers’ changing needs with new brands, new global locations, and new guest experiences.

37. Snackable Solutions

We believe that successful small businesses and start-ups give people hope. They are shining examples of what can be achieved through focus and determination. 

Empowerment and Community

Our mission-driven podcast empowers our community of entrepreneurs to thrive by transforming themselves and their businesses. This mission shapes the culture of the small team behind the podcast. 

Owning and operating a business is hard. It requires expertise in your core competency. It also requires creativity to find solutions to new problems every day.  Our core values of hope, community, empowerment, and transformation make this success much more likely to happen.

38. Tinuiti  

Don’t just do it. Own it

We take responsibility for our teammates, our clients, and our own personal happiness. We empower our employees to be the experts they are. If you can dream it, and you can do it, we’ll work with you to make it happen.

Talent over geography

While we’d absolutely love to have you around in one of our offices—and you can see them all below— you’re welcome to join us either way. Talent and drive transcend state lines.

Empowerment and education 

Whether you’re interested in getting an edge in Analytics or working on your client communication skills, we want to help you learn. It’s just another way we invest in our people, and it’s always worth it.

Being transparent means making relevant information and context easily accessible so that everyone can be more efficient and effective. 

We trust each other to make the right decisions, and we support each other in pursuit of our goals. But, we know we’re not perfect, and things won’t always go to plan. So when things go south, we talk about it and learn from our mistakes.

We recognize our differences and embrace the new perspectives those differences can provide, and we also understand that everyone has biases. Rather than ignore them, we strive to learn why they exist and how we can overcome them.

Check out the best Front integrations !

40. GoodHire

Customer delight

We want to exceed expectations at every turn, with careful attention to detail and an emphasis on quality.

Preserve integrity

This means doing things in ways that are always ethically and morally correct. 

At GoodHire, we follow a core values list that shape the foundations of our company culture. We find that each of these values serve as our guiding principles for delivering great experiences and fostering a truly supportive company culture.  In all, they’re a reflection of our commitment to excellence, and to our mission statement of having a positive impact on the world.

41. Life Time Fitness

Support a culture of inclusion

Create safe and respectful spaces, so everyone is encouraged to participate.

Expand the community

Build strategic relationships that create an impact across social and economic barriers.

Close the gap

Assess and revise our recruiting and casting practices.

42. Buy Here Pay Here

We act with integrity in everything we do. We are honest, transparent, and ethical in our dealings with others. 

We are constantly looking for new and better ways to do things. We encourage creativity and out-of-the-box thinking. 

We strive to make a positive impact in everything we do. We want to make a difference in the world and leave things better than we found them. 

These values shape our culture in a number of ways. First, they guide our behavior and decision-making. We always try to do what is right and best, and we are always looking for ways to improve.  Second, they create a positive and collaborative environment. We work together to solve problems and achieve our goals. Lastly, they inspire us to do great work. We are constantly striving to make a difference and have a positive impact on the world around us.

43. SocialBee  

We act like owners. We treat our customers’ businesses as our own – with attention, care, and by putting their best interest first.

We choose continuous learning, always improving our skills, and growing as individuals.

Yes, it’s a made-up word. Who says we can’t do that? It shows we’re innovative, creative, digitally savvy, and willing to take risks.

44. Assisted Living Center

We believe in being upfront and honest about fees and application processes so that our clients don’t feel sidetracked

Accessibility

By offering free care information, we also make it possible for seniors to access the help they need. 

Confidentiality

It’s equally important that we honor their privacy in these situations; every applicant has a story worth protecting. 

Our mission statement is built on helping others, but first living by example.  As a healthcare marketing company, we pride ourselves on the guiding principles of transparency, accessibility, and confidentiality.  These values aren’t only directed at clients; they form part of our work culture .

45. BetterUp

Craftspersonship

Find meaning in what we do through crafting excellence.

Perseverance is driven by determination and passion.

What sets you apart makes us unique.

Privacy and online security

We believe in the fundamental human right to staying private and secure online. Our employee’s right to privacy in the workplace is important too, so ensuring work-life boundaries are respected is a result of our core values

Customer support

We are a people-first company, and know the importance of human support, especially in the technology industry.

We have invested heavily in our customer support team, and always look at security and app updates from the perspective of what our customers want, not just what we think they need. It also means that our employees and contractors know their own value as people.

47. Calendly

We never settle, never accept “it works well enough” or “that’s how we have always done it” reasoning. Our people take action, adapt quickly and persevere in the face of obstacles until they make meaningful progress.

Focus wisely

We operate as a lean and efficient team, but recognize that quality and speed go together as counterweights—neither is sufficient alone.

Strive for excellence

We are self-starters who crave empowerment, actively pursue opportunities for impact and are driven to produce exceptional results

Check out the best Calendly integrations !

48. Jolly SEO

Show equal commitment to providing consistently high-quality work.

We rely on the team to record their work accurately and honestly.

Our team is fully remote and in order to make this work, we rely on each team member to take responsibility for their own time management and for completing their work in time.  We also accept that mistakes can happen, and that is to be expected, but provided that they own up when they make a mistake we don’t make an issue of it.  Most importantly, we insist that each team member is treated with respect in every aspect of their life. Discrimination in any form is simply not accepted; no excuses.

Take ownership 

We set clear expectations, and are proactive and accountable.

Win together

We are aligned, stronger together, and operate as one team.

We strive for inclusion, listen, learn, and speak with our actions.

50. Zach Grove

We value integrity and take responsibility for all our actions.

“Bring Innovation” value encourages team members to bring new growth ideas to the table.

Chill Work 

This means that we don’t subscribe to toxic “grinding” and “hustle culture.”

Instead, we’re deliberately calm and chill. 

We understand that work is a part of life, but not the entirety of life. This is non-negotiable—it shapes our culture in that team members know they should never feel guilty for completely unplugging on the weekends.

Define and Live By Your Team Core Value Statement   

When it comes to identifying core values, there are a few things you need to keep in mind. 

First and foremost, what is important to you as a business? What do you stand for? And most importantly, what are your employees’ personal core values?

It’s also important to remember that not all values are universal or equal. Some may even conflict; you’ll have to choose the ones that are aligned with your own core values and vision statement . Use this core values list to help you create strong and authentic guiding principles that resonate with your business, employees, and customers.   

Once you have determined your company values, make sure to share them regularly with your team to keep them motivated and aligned with your goals. Setting the tone for your company culture will help you attract and keep like-minded people who share your values and desire to succeed, which will help your business thrive for years to come.

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BUS101: Introduction to Business

The Business Plan

Read this section to see why business plans are essential and what sections should be included.

Mission Statement and Core Values

This portion of the business plan states the company's  mission statement  and  core values . The mission statement describes the purpose or  mission  of your organization - its reason for existence. It tells the reader what the organization is committed to doing. For example, one mission statement reads, "The mission of Southwest Airlines is dedication to the highest quality of customer service delivered with a sense of warmth, friendliness, individual pride, and company spirit".

Core values are fundamental beliefs about what's important and what is (and isn't) appropriate in conducting company activities. Core values are not about profits, but rather about ideals. They should help guide the behavior of individuals in the organization. Coca-Cola, for example, intends that its core values - leadership, passion, integrity, collaboration, diversity, quality, and accountability - will let employees know what behaviors are (and aren't) acceptable.

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The 7 Best Business Plan Examples (2024)

As an aspiring entrepreneur gearing up to start your own business , you likely know the importance of drafting a business plan. However, you might not be entirely sure where to begin or what specific details to include. That’s where examining business plan examples can be beneficial. Sample business plans serve as real-world templates to help you craft your own plan with confidence. They also provide insight into the key sections that make up a business plan, as well as demonstrate how to structure and present your ideas effectively.

Example business plan

To understand how to write a business plan, let’s study an example structured using a seven-part template. Here’s a quick overview of those parts:

• Executive summary: A quick overview of your business and the contents of your business plan.
• Company description: More info about your company, its goals and mission, and why you started it in the first place.
• Market analysis: Research about the market and industry your business will operate in, including a competitive analysis about the companies you’ll be up against.
• Products and services: A detailed description of what you’ll be selling to your customers.
• Marketing plan: A strategic outline of how you plan to market and promote your business before, during, and after your company launches into the market.
• Logistics and operations plan: An explanation of the systems, processes, and tools that are needed to run your business in the background.
• Financial plan: A map of your short-term (and even long-term) financial goals and the costs to run the business. If you’re looking for funding, this is the place to discuss your request and needs.

7 business plan examples (section by section)

In this section, you’ll find hypothetical and real-world examples of each aspect of a business plan to show you how the whole thing comes together. 

• Executive summary

Your executive summary offers a high-level overview of the rest of your business plan. You’ll want to include a brief description of your company, market research, competitor analysis, and financial information. 

In this free business plan template, the executive summary is three paragraphs and occupies nearly half the page:

• Company description

You might go more in-depth with your company description and include the following sections:

• Nature of the business. Mention the general category of business you fall under. Are you a manufacturer, wholesaler, or retailer of your products?
• Background information. Talk about your past experiences and skills, and how you’ve combined them to fill in the market. 
• Business structure. This section outlines how you registered your company —as a corporation, sole proprietorship, LLC, or other business type.
• Industry. Which business sector do you operate in? The answer might be technology, merchandising, or another industry.
• Team. Whether you’re the sole full-time employee of your business or you have contractors to support your daily workflow, this is your chance to put them under the spotlight.

You can also repurpose your company description elsewhere, like on your About page, Instagram page, or other properties that ask for a boilerplate description of your business. Hair extensions brand Luxy Hair has a blurb on it’s About page that could easily be repurposed as a company description for its business plan. 

• Market analysis

Market analysis comprises research on product supply and demand, your target market, the competitive landscape, and industry trends. You might do a SWOT analysis to learn where you stand and identify market gaps that you could exploit to establish your footing. Here’s an example of a SWOT analysis for a hypothetical ecommerce business: 

You’ll also want to run a competitive analysis as part of the market analysis component of your business plan. This will show you who you’re up against and give you ideas on how to gain an edge over the competition. 

• Products and services

This part of your business plan describes your product or service, how it will be priced, and the ways it will compete against similar offerings in the market. Don’t go into too much detail here—a few lines are enough to introduce your item to the reader.

• Marketing plan

Potential investors will want to know how you’ll get the word out about your business. So it’s essential to build a marketing plan that highlights the promotion and customer acquisition strategies you’re planning to adopt. 

Most marketing plans focus on the four Ps: product, price, place, and promotion. However, it’s easier when you break it down by the different marketing channels . Mention how you intend to promote your business using blogs, email, social media, and word-of-mouth marketing. 

Here’s an example of a hypothetical marketing plan for a real estate website:

Logistics and operations

This section of your business plan provides information about your production, facilities, equipment, shipping and fulfillment, and inventory.

Financial plan

The financial plan (a.k.a. financial statement) offers a breakdown of your sales, revenue, expenses, profit, and other financial metrics. You’ll want to include all the numbers and concrete data to project your current and projected financial state.

In this business plan example, the financial statement for ecommerce brand Nature’s Candy includes forecasted revenue, expenses, and net profit in graphs.

It then goes deeper into the financials, citing:

• Funding needs
• Project cash-flow statement
• Project profit-and-loss statement
• Projected balance sheet

You can use Shopify’s financial plan template to create your own income statement, cash-flow statement, and balance sheet. 

Types of business plans (and what to write for each)

A one-page business plan is a pared down version of a standard business plan that’s easy for potential investors and partners to understand. You’ll want to include all of these sections, but make sure they’re abbreviated and summarized:

• Logistics and operations plan
• Financials 

A startup business plan is meant to secure outside funding for a new business. Typically, there’s a big focus on the financials, as well as other sections that help determine the viability of your business idea—market analysis, for example. Shopify has a great business plan template for startups that include all the below points:

• Market research: in depth
• Financials: in depth

Your internal business plan acts as the enforcer of your company’s vision. It reminds your team of the long-term objective and keeps them strategically aligned toward the same goal. Be sure to include:

• Market research

Feasibility 

A feasibility business plan is essentially a feasibility study that helps you evaluate whether your product or idea is worthy of a full business plan. Include the following sections:

A strategic (or growth) business plan lays out your long-term vision and goals. This means your predictions stretch further into the future, and you aim for greater growth and revenue. While crafting this document, you use all the parts of a usual business plan but add more to each one:

• Products and services: for launch and expansion
• Market analysis: detailed analysis
• Marketing plan: detailed strategy
• Logistics and operations plan: detailed plan
• Financials: detailed projections

Free business plan templates

Now that you’re familiar with what’s included and how to format a business plan, let’s go over a few templates you can fill out or draw inspiration from.

Bplans’ free business plan template

Bplans’ free business plan template focuses a lot on the financial side of running a business. It has many pages just for your financial plan and statements. Once you fill it out, you’ll see exactly where your business stands financially and what you need to do to keep it on track or make it better.

PandaDoc’s free business plan template

PandaDoc’s free business plan template is detailed and guides you through every section, so you don’t have to figure everything out on your own. Filling it out, you’ll grasp the ins and outs of your business and how each part fits together. It’s also handy because it connects to PandaDoc’s e-signature for easy signing, ideal for businesses with partners or a board.

Miro’s Business Model Canvas Template

Miro’s Business Model Canvas Template helps you map out the essentials of your business, like partnerships, core activities, and what makes you different. It’s a collaborative tool for you and your team to learn how everything in your business is linked.

Better business planning equals better business outcomes

Building a business plan is key to establishing a clear direction and strategy for your venture. With a solid plan in hand, you’ll know what steps to take for achieving each of your business goals. Kickstart your business planning and set yourself up for success with a defined roadmap—utilizing the sample business plans above to inform your approach.

Business plan FAQ

What are the 3 main points of a business plan.

• Concept. Explain what your business does and the main idea behind it. This is where you tell people what you plan to achieve with your business.
• Contents. Explain what you’re selling or offering. Point out who you’re selling to and who else is selling something similar. This part concerns your products or services, who will buy them, and who you’re up against.
• Cash flow. Explain how money will move in and out of your business. Discuss the money you need to start and keep the business going, the costs of running your business, and how much money you expect to make.

How do I write a simple business plan?

To create a simple business plan, start with an executive summary that details your business vision and objectives. Follow this with a concise description of your company’s structure, your market analysis, and information about your products or services. Conclude your plan with financial projections that outline your expected revenue, expenses, and profitability.

What is the best format to write a business plan?

The optimal format for a business plan arranges your plan in a clear and structured way, helping potential investors get a quick grasp of what your business is about and what you aim to achieve. Always start with a summary of your plan and finish with the financial details or any extra information at the end.

Want to learn more?

• Question: Are You a Business Owner or an Entrepreneur?
• Bootstrapping a Business: 10 Tips to Help You Succeed
• Entrepreneurial Mindset: 20 Ways to Think Like an Entrepreneur
• 101+ Best Small Business Software Programs 

300+ Business Plan Examples

With over two decades of experience, Growthink has assisted more than 1 million companies in developing effective business plans to launch and expand their businesses. Trust in our expertise to guide you through developing a business plan that drives your success. In addition to our sample plans, below you’ll learn the answers to key business plan questions and gain insightful tips on writing your business plan.

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Answers to Key Sample Business Plan Questions

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1. Why is utilizing an example business plan a good idea?

Sample business plans can help you quickly and easily write a business plan for your own business. Business plans are an important tool for any business, but they can be challenging to create. A sample business plan will help you understand the business plan format , the benefit of market research, and how to write a compelling executive summary. It can also serve as a guide for creating your own business plan, outlining the key sections and providing examples of successful plans. Utilizing the best business plan template can save you time and ensure that your plan is well-structured and comprehensive.

Business plan examples may even help you with the different sections of a plan, including market analysis, business description, cash flow statements/business financial statements, and more. Business plans can also show you how a quality plan in your exact business plan category is organized and shows you the appropriate business communications style to use when writing your business plan.

2. Who would benefit from using an example business plan?

Any entrepreneur or business owner who has never written a business plan before can benefit from an example or sample plan. New business owners often start with business plan templates , which are helpful but are sometimes more useful after reviewing other sample business plans.

A good sample plan can be a step-by-step guide as you work on your business planning and business idea. Once you have a sense for the flow, specs, and details, etc. that business plans have, utilizing a business plan template will help you pull everything together, helping you create a plan investors and other stakeholders will value. A solid business plan will also help you if you need a bank loan, which may require a startup business plan. Download our free business plan template to help you get started on your own business plan.

Free Download : Free Business Plan Template PDF

3. How do you get started with a sample business plan and maximize its benefit?

First you should read the business plan thoroughly. Study both the type of information provided in key sections like the executive summary, target market analysis, summary, etc., as well as the format and style of the plan. As you read, you may find yourself thinking through things such as improving or evaluating your business planning process, your business idea, or reconsidering who you want to write your business plan for. This is OK and part of the process. In fact, when you start writing a business plan for the first time, it will be much easier because you’ve gone through this process.

After this initial read, outline your business plan and copy in from the sample plan sections that apply to your business. For instance, if the sample plan included public relations in their marketing strategy and sales plan, and you will also use this tactic, you can copy it into your plan and edit it as appropriate. Finally, answer the other questions answered in the sample plan in ways that reflect your unique business and target customers.

Writing a business plan can seem daunting. Starting your business plan writing process by reviewing a plan that’s already been created can remove a lot of mental and emotional barriers while helping you craft the best plan you can.

4. When should you not use a sample business plan?

If your business is unlike any other, using a sample business plan will not be as effective. In this situation, writing a business plan from scratch utilizing a business plan template is probably your best path forward.

As an example, Facebook’s early business plan was unlike others since it was paving a new path and way of doing business. But, groundbreaking new businesses like Facebook are not the norm, and the vast majority of companies will benefit from utilizing sample business plans.

5. How do you choose the right type of business plan for your venture?

Selecting the appropriate type of business plan depends on your business’s stage, needs, and goals. Let’s explore the different types of business plans and how to determine which business plan format is right for you.

• Startup Business Plan : This type of plan is for businesses just starting out and seeking funding or investment. It typically includes a detailed analysis of the market, target audience, competition, and financial projections.
• Traditional Business Plan : Traditional business plans are the most common type of business plan, used by established businesses to outline their goals and strategies. It includes all the key sections such as market analysis, company description, and financial statements.
• Internal Business Plan : Internal business plans are used for internal purposes, to guide the day-to-day operations and decision making of the business. It may not be as detailed as a traditional business plan, but still includes important information such as company mission, objectives, and key performance indicators.
• Feasibility Business Plan : A feasibility business plan is used to assess the viability of a new product or service in the market. It includes detailed research and analysis to determine if the business idea is feasible and profitable.
• One-Page Business Plan : As the name suggests, this type of business plan is condensed into one page and includes the most critical information about the business. It can be a useful tool for pitching to potential investors or partners.
• Strategic Business Plan : A strategic plan looks at the big picture and long-term business goals of a company. It may include the company’s mission statement, core values, and overarching strategies for achieving success.

Ultimately, the type of business plan you choose will depend on your business’s specific needs and goals. It may also be beneficial to combine elements from different types of plans to create a customized plan that best fits your business. Carefully consider your objectives and resources before deciding on the right type of plan for your venture.

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The business plan example below is for Shoutmouth, a company that enjoyed much success in the early 2000’s and which was able to raise funding. While the plan’s premise (social networking) is not as unique now as it was then, the format and structure of this business plan still holds.

I. Executive Summary

Business Overview

Launched in late February 2007, Shoutmouth.com is the most comprehensive music news website on the Internet .

Music is one of the most searched and accessed interests on the Internet. Top music artists like Akon receive over 3 million searches each month. In addition, over 500 music artists each receive over 25,000 searches a month.

However, music fans are largely unsatisfied when it comes to the news and information they seek on the artists they love. This is because most music websites (e.g., RollingStone.com, MTV.com, Billboard.com, etc.) cover only the top eight to ten music stories each day – the stories with mass appeal. This type of generic coverage does not satisfy the needs of serious music fans. Music fans generally listen to many different artists and genres of music. By publishing over 100 music stories each day, Shoutmouth enables these fans to read news on all their favorite artists.

In addition to publishing comprehensive music news on over 1200 music artists, Shoutmouth is a social network that allows fans to meet and communicate with other fans about music, and allows them to:

• Create personal profiles
• Interact with other members
• Provide comments on news stories and music videos
• Submit news stories and videos
• Recommend new music artists to add to the community
• Receive customized news and email alerts on their favorite artists

Success Factors

Shoutmouth is uniquely qualified to succeed due to the following reasons:

• Entrepreneurial track record : Shoutmouth’s CEO and team have helped launch numerous successful ventures.
• Affiliate marketing track record : Online affiliate marketing expertise has been cited as one of MySpace’s key success factors. Over the past two years, Shoutmouth’s founders have run one of the most successful online affiliate marketing programs, having sold products to over 500,000 music customers online.
• Key milestones completed : Shoutmouth’s founders have invested $500,000 to-date to staff the company (we currently have an 11-person full-time team), build the core technology, and launch the site. We have succeeded in gaining initial customer traction with 50,000 unique visitors in March, 100,000 unique visitors in April, and 200,000 unique visitors in May 2007.

Unique Investment Metrics

The Shoutmouth investment opportunity is very exciting due to the metrics of the business.

To begin, over the past two years, over twenty social networks have been acquired. The value in these networks is their relationships with large numbers of customers, which allow acquirers to effectively sell to this audience.

The sales price of these social networks has ranged from $25 to $137 per member. Shoutmouth has the ability to enroll members at less than $1 each, thus providing an extraordinary return on marketing expenditures. In fact, during an April 2007 test, we were able to sign-up 2,000 members to artist-specific Shoutmouth newsletters at a cost of only 43 cents per member.

While we are building Shoutmouth to last, potential acquirers include many types of companies that seek relationships with music fans such as music media/publishing (e.g., MTV, Rolling Stone), ticketing (e.g., Ticketmaster, LiveNation) and digital music sales firms (e.g., iTunes, The Orchard).

Financial Strategy, Needs and Exit Strategy

While Shoutmouth’s technological, marketing and operational infrastructure has been developed, we currently require $3 million to execute on our marketing and technology plan over the next 24 months until we hit profitability.

Shoutmouth will primarily generate revenues from selling advertising space. As technologies evolve that allow us to seamlessly integrate music sampling and purchasing on our site, sales of downloadable music are also expected to become a significant revenue source. To a lesser extent, we may sell other music-related items such as ringtones, concert tickets, and apparel.

Topline projections over the next three years are as follows:

II. Shoutmouth Overview

What is Shoutmouth?

Shoutmouth is an operating company of The Kisco Group Inc. (TKG). Since 2003, TKG has capitalized on web-based marketing opportunities via launching targeted websites and generating web-based leads. TKG revenues in 2005 exceeded $1.3 million and grew to $3.5 million in 2006. Shoutmouth is currently the sole focus of TKG; all other TKG business units have been divested.

Development of Shoutmouth began in August 2006 and the site officially launched on February 21, 2007. Shoutmouth (located at www.shoutmouth.com) is the most comprehensive music news community on the Internet. The website covers 1,200 popular bands and music artists and offers more than 100 new music articles each day. In addition to providing news, Shoutmouth is a web community. That is, Shoutmouth members can actively participate on the site, by doing things such as commenting on news stories and submitting their own stories.

The Market Size and Need for Shoutmouth

The music market is clearly vast. According to IFPI, which represents the recording industry worldwide, global music sales were $33.5 billion in 2005, with the U.S. accounting for $12.3 billion of that amount. Importantly, digitally music sales are seeing substantial growth, with IFPI reporting sales of $400 million in 2004, $1.1 billion in 2005 and $2 billion in 2006.

Online, music is the one of the most frequently searched and accessed interests. For example, according to Wordtracker, the music artist Eminem received over 1.7 million web searches in December 2006, while band Green Day received 534,000 searches.

To put these figures in perspective, top celebrities in other entertainment fields receive but a fraction of this search volume. For example, December 2006 search volumes for select sports stars and actors were as follows: Kobe Bryant, 122K; Tiger Woods, 88K; Cameron Diaz, 332K; and Tom Cruise, 82K.

Conversely, 225 music artists received over 100,000 searches in December 2006, and over 500 music artists received over 25,000 searches.

This data is corroborated by Nielsen BuzzMetrics which plots the most popular topics bloggers are posting about. The chart to the right plots September 25, 2006 to March 25, 2007 and shows how music dominates other entertainment sectors online.

When searching for music artists online, fans, which are primarily between the ages of 13 and 35, are looking for news, pictures, lyrics, videos and audio files. In addition, fans enjoy publicly voicing their opinions about music and interacting with other fans.

There is currently no website besides Shoutmouth that provides comprehensive music news. Currently, to get the latest news on their favorite artists, fans must visit the official websites or fan websites of each of the artists they like . Even then, it is unlikely that the fan will get all the news that has occurred. To solve this problem, Shoutmouth scours the web and uncovers news from thousands of web sites.

What Shoutmouth Does and Will Offer

As of May 2007, the site covers the 1,200 most popular music artists (popularity primarily based on the number of web searches over the past 12 months for each artist).

Shoutmouth currently offers members the ability to:

• Read over 500 new music articles each week
• Read special features such as album reviews, interviews, new album release dates, top quotes of the week and other special reports
• Watch and rate music videos
• Listen to select music audio clips
• Comment on news stories and music videos
• Submit news stories that they see/hear of elsewhere
• Suggest new music artists to add to the site
• View articles by music artist or by genre (current genres include Rock, Pop, Rap, R&B, Country, and Electronic)
• Create a user profile that includes their favorite music artists, Shoutmouth friends, news stories submitted to Shoutmouth, and comments made. Members have the ability to find other members based on their favorite artists and via our search functions.
• Receive customized news and email alerts. Members can customize their “My News” page to include only artists they specify. Likewise, they can choose to receive email alerts whenever there is a new story on one of their favorite artists.

While establishing itself as the premier music news community, Shoutmouth will embark on the more aggressive goal of becoming the premier music community online . To accomplish this, Shoutmouth will begin to offer additional content (more videos, audio, pictures, lyrics, etc.) and additional functionality (music compatibility testing (e.g., if you like this, you’ll like this), voting capabilities, member-to-member messaging, etc.). We have already begun mapping out our content and technology growths plans to achieve this goal upon financing.

Importantly, Shoutmouth expects to be able to add massive amounts of relevant content (e.g., lyrics, reviews, pictures, video files, audio files, etc.) via member submissions and moderation. This is the same way that YouTube has been able to quickly add millions of videos and Wikipedia has been able to add millions of articles. Importantly, since established music websites (e.g., MTV, RollingStone.com, Billboard.com, etc.) are not community based, they would have to hire thousands of staff members to rival the content that Shoutmouth will have.

How We Get and Publish Our News

Currently, news stories that appear on Shoutmouth are gathered from numerous online sources. Shoutmouth’s staff writers find these stories by using RSS and News feeds that cover thousands of websites. In addition, Shoutmouth community members have the ability to submit stories they find elsewhere.

Typical stories include factual information plus the insight of the author. Shoutmouth editors ensure that all stories are properly classified by artist and genre, and that duplicate articles are filtered out.

Over the past three months, Shoutmouth has developed a solid infrastructure, which we consider a core competitive advantage, that that allows us to provide comprehensive music news . This infrastructure includes:

• Setting up hundreds of RSS feeds based on comprehensive research regarding sites from which to receive feeds
• Training our editorial team regarding identifying a story and weeding out duplicates
• Assigning music artists among our five-person editorial team to better manage work flow and avoid duplicate articles

We are working on a system to ensure that member-submitted articles are automatically routed to the appropriate member of Shoutmouth’s editorial team to improve our efficiencies further.

Shoutmouth’s Goal to Break News First

The majority (approximately 90%) of Shoutmouth’s articles are currently developed by our in-house editorial team, while the balance is submitted by members. In addition, virtually all of our articles are based on information gleaned from other websites. As such, we are generally not the first to publish news; however we are the first and only site to publish all the news in one easily-accessible place. The one current exception is news which is published on bands’ official MySpace pages; Shoutmouth generally publishes articles on this news 24 to 48 hours before it is reported by other news or music sites (due to our efficiencies in finding news).

Shoutmouth realizes that it will gain a key competitive advantage, and will generate significant market buzz, if it is able to report on music news stories before other media sources . To accomplish this, we have begun contacting publicity departments at record labels to gain direct access to music news. We expect these contacts to enable us to gain immediate and sometimes exclusive access to news which will help further establish Shoutmouth as the canonical source for music news. We also plan to more aggressively solicit member submissions of new, buzzworthy news events and will consider offering rewards for unique substantiated news (much the way paparazzi are compensated).

III. Competition in the Online Music Market

This section of the business plan provides a competitive analysis, which is an overview of the competitive landscape, discusses both indirect and direct competitors and then details Shoutmouth’s competitive advantages.

Because consumer demand for music on the Internet is so great, there are a vast number of music websites. In summary, we consider most sectors of the online music market (which are discussed below) to be indirect competitors and potentially partners, rather than direct competitors, because none of them focus on music news.

The reason we believe that no one focuses on music news is that it is very difficult to do. Because news is very important to music fans, most music websites offer news. However, they primarily get their news from organizations such as CNN, Reuters, the Associated Press and BBC. These large organizations only write about the music stories that have mass appeal, which traditionally amounts to 8-10 music news stories per day. However, since music fans are often zealots when it comes to their favorite artists, they are not merely interested in cover stories. For instance, a U2 fan cares about any U2 news, particularly news that a non-U2 fan might consider insignificant.

In fact, because Shoutmouth is the sole one-stop shop for getting comprehensive music news, there might be an opportunity to license our content to other music websites.

Sectors of the Online Music Market

Shoutmouth specifically comPs in the community-based music news market. While players in this market represent direct competitors, Shoutmouth faces indirect competitors in the following markets:

• Community-Based Sites
• Community-Based News Sites
• Community-Based Music Sites
• Traditional Music Websites
• Official Artist and Fan Sites

Each of these markets is described below.

A. Community-Based Sites

Community-based sites, also known as social networking sites, are websites in which members can create profiles, leave comments throughout the site, and communicate with other members among other features.

A June 2006 report by Piper Jaffray entitled “Silk Road: Social Networking is Here to Stay” effectively sums up the power and longevity of social networking:

“We believe social networking sites have become a permanent part of the fabric of web applications and are rapidly becoming one of the most popular activities online, potentially impacting how other popular services such as email, IM, and maybe even search are accessed.

As a clear indication of the growth rate and scale of social networking, consider this: MySpace monthly page views have now surpassed MSN or AOL in the U.S. and are nearly 75% of the size of Yahoo!. Social networking has filled a gap that was left by all the existing portals and web services and it is fulfilling a very important and basic function for millions of users: allowing them to express themselves and connect with their friends, with the two functions tightly integrated.

The leading sites such as MySpace (News Corp), Facebook, and others are amassing significant power in the new landscape of the Internet and the existing Internet companies are likely to have to work with these newcomers as they may yield material control on the flow of traffic to other applications.”

Social networking sites such as MySpace.com, Facebook.com, Tagged.com, and TagWorld.com have educated consumers regarding the value of these sites and how to use them. Their success has spurred genre-specific social networks such as community-based/social networking news sites and music sites, which are discussed below.

Shoutmouth doesn’t view established social networking sites as competitors since these sites have a general focus. That is, members talk about all aspects of life, from dating to music to movies, etc. Conversely, Shoutmouth is solely focused on music.

B. Community-Based News Sites

Community-based news sites are sites in which members decide what’s newsworthy and what’s not. For instance, on Digg.com, the most prominent community-based news site, members “Digg” stories that they feel are most newsworthy. The stories that the community feels are most important rise to Digg’s homepage, while less important stories get little attention.

Digg’s one million members can submit stories, “digg” stories, and comment on stories. Digg focuses on general news with a slant towards technology, gaming and unique/sensational news. While Digg does have a Music area within its Entertainment section, this receives little focus. In fact, at the time of the writing of this plan, Digg’s music home page only includes one article submitted within the past 48 hours. Furthermore, Digg doesn’t pare down the music category into sub-categories such as Rock and individual music artists. Conversely, these sub-categories are the entire focus of Shoutmouth.

Other sites that are similar to Digg include Newsvine.com, Spotback.com and Gabbr.com. Of most relevance is the Digg-like site for music, Noisetap.com, which was launched by Ticketmaster in January 2007.

Like Digg, Noisetap.com allows members to submit and vote for music stories. Noisetap.com is organized by music genre and not by music artist. This most likely will not satisfy the needs of many music fans since they don’t have the ability to find news on the specific artists they care most about. Likewise, without a full-time staff actively researching and publishing news stories at the artist-level, Noisetap.com will never be able to offer the comprehensive news that Shoutmouth does.

While Shoutmouth is currently similar to community-based news sites in that members can submit stories and comment on the news they find most interesting, no established player in the market provides a comprehensive focus on music. In addition, Shoutmouth sees these sites as marketing partners as we have and will continue to submit our stories on them to increase our readership.

C. Community-Based Music Sites

There are many community-based music websites, although none focuses on music news such as Shoutmouth. Conversely, these sites generally give members the ability to create and listen to song play lists. The community acts to help individual members find new music and new friends based on similarities in their music tastes. Prominent sites in this genre include Last.fm, Finetune, Pandora, RadioBlogClub, MyStrands, iLike[1] and iJigg.

Last.fm is the most prominent community-based music site and is a good model with which to compare Shoutmouth. Likewise, we will benchmark our performance against Last.fm as we reach of goal of becoming the premier music news community and focus on becoming the premier music community.

According to Alexa, Last.fm is the 359th most visited site on the Internet. While Last.fm focuses on allowing members to create customized Internet stations based on their music tastes, the site has much additional content and social networking features. For instance, for each artist, Last.fm includes pictures, a bio, concert dates, discography, fans on Last.fm, and similar artists. Fans are also able to create journals and communicate with other fans. Key features that Last.fm doesn’t currently focus on include news and video.

D. Traditional Music Websites

Traditional music websites such as MTV.com, RollingStone.com, Billboard.com, NME.com, AOL Music, and Yahoo! Music tend to have many features such as news, reviews, pictures, videos and audio. While these sites are generally very well done and extremely popular, they are under-serving visitors in two core areas: music news and community .

These sites’ lack of music news stems from the difficulty in creating this news, specifically that it requires filtering through thousands of articles and websites to find relevant stories. Likewise, as discussed, these firms might wish to license our news content in the future.

Regarding community , none of the top music sites are thriving communities. Rather, either these sites offer no community features or they recently began offering select features (e.g., submitting reviews or commenting on articles). Even when available, the community features on these sites are afterthoughts and are not engrained within the core fabric of the sites.

While they haven’t been able to transform their current sites into communities, top music websites clearly understand the power of online music communities and have an appetite for them. For example, in January 2007, MTV invested in social networking website TagWorld. MTV also acquired RateMyProfessors.com and Quizilla.com (teen social network) in January 2007 and October 2006 respectively.

As mentioned previously, our vision is to build and incorporate additional technologies, and use our “army” of members to publish vast amounts of music content on Shoutmouth, in order to fully satisfy music fans and leapfrog traditional music sites in terms of their music content.

E. Official Artist and Fan Sites

Shoutmouth com’s with official music artist websites and fan websites. These sites often include news about the specific artist as well as pictures, videos and other relevant information.

On one hand, official music artist and fan websites are direct competitors to Shoutmouth. This is because some of these sites offer comprehensive news on the specific artist they cover. In addition, many offer forums, discussion boards or other ways to communicate with other fans.

However, two factors separate Shoutmouth from these types of sites: 1) breadth and 2) sophistication.

• Breadth : Most music fans love more than one artist. As such, in order to get the news they want, they would have to visit/join multiple fan or artist websites rather than getting all of their news from Shoutmouth.
• Sophistication : While some official music artist websites are technologically sophisticated, offering forums, networking and other worthwhile features, the majority of artist and fan websites have limited usability, functionality and networking ability. In fact, this deficiency has lead to the success of MusicToday, which provides front and back-end technology to power artist websites.

Specifically, MusicToday offers web design and hosting, develops sophisticated online stores, builds online fan clubs and offers web ticketing among other services to select top music artists such as Dave Matthews Band, Christina Aguilera, Kenny Chesney, Britney Spears and Usher. While offering sophisticated tools for select music artist websites, MusicToday offers little to no music news nor advanced social networking functions. For instance, the official Dave Matthews Band website offers less than one news story per month.

F. Direct Competitors: Community-Based Music News Sites

Shoutmouth’s direct competitors are other music news websites that have social or community features that allow users to join the site, submit articles, comment on articles, create public profiles and/or communicate with other members. Shoutmouth has identified one significant player who offers this service, AbsolutePunk.net.

AbsolutePunk.net has done a good job of building a user base (the site claims 125,000+ registered members and nearly 500,000 un-registered members). In addition, the user base is very active — the average story on their site receives approximately 20 comments. AbsolutePunk.net offers music news, reviews, pictures and interviews among other features.

On the negative side, AbsolutePunk.net’s articles are generally posted by one staff writer (as opposed to Shoutmouth’s five writers), most articles are simply one sentence posts rather than full articles, and no attempt seems to have been made to cover all news stories. In addition, the site only covers the punk music genre. Although “punk” is broadly defined on the site, the site doesn’t cater to genres such as R&B, rap and country among others, failing to satisfy the broader market.

AbsolutePunk.net is owned by Indieclick, a Los Angeles-based media company. According to the AbsolutePunk.net website, the site:

• Has developed a loyal (72% return rate) reader base
• 5,182,147 Posts
• 163,535 Threads
• 126,448 Members
• 1,711 Artist Profiles
• 20,774 Multimedia Files
• Approx 76,000 visits per day.
• Approx 276,000 pageviews per day.

Shoutmouth’s Competitive Advantage

In addition to being the first to fill the untapped market void for comprehensive music news, Shoutmouth’s competitive advantage in the market primarily includes the following:

Online Marketing Sophistication

Content Development Experience and Expertise

Shoutmouth’s team, primarily team members DL and PF, has operated an affiliate marketing business focusing on music for the past four years. Affiliate marketing is defined as a system of revenue sharing between one site (the affiliate) which features an ad or content designed to drive traffic to another site (the merchant). The affiliate receives a fee based on traffic to the merchant which converts to sales.

Our affiliate business has focused on connecting music fans, primarily aged 13 to 30, with music offers such as iPods and ringtones. Over the past two years, we have successful sold affiliated offers to over 500,000 customers. We have become a significant online advertiser, receiving Google’s “over 1 million leads” award, and are recognized as a major player among the top affiliate networks.

It is important to note that affiliate marketing success has been credited with part of MySpace’s success. This is because effective affiliate marketers understand how to drive and convert on Internet traffic.

Shoutmouth will employ its affiliate marketing techniques to drive traffic to Shoutmouth.com and enroll members. We will utilize technologies and proprietary techniques that allow us to monitor multiple metrics such as the cost per visitor, cost per member sign-up, etc., so that we can set and maintain profitable metrics.

Another venture that Shoutmouth team members, primarily PK and DL, launched was the development of over 3,000 niche websites. To create the content for these websites, we employed a virtual work force of over 90 researchers in India and 30 writers and editors in the US.

This experience taught us how to manage a large workforce, train writers to improve content quality and motivate a large group of people. These skill sets will be critical in allowing Shoutmouth to grow the content of the site, as developed by both staff and members, while maintaining quality standards.

IV. Marketing Plan

Shoutmouth’s marketing plan includes the following:

Online Advertising : Shoutmouth will initiate pay-per-click advertising campaigns on Google and Yahoo! in order to inexpensively drive traffic to the site. Specifically, Shoutmouth believes it can drive qualified traffic to the site for 20 cents per visitor and achieve a 20% member conversion rate, thus generating members at a cost of $1.00 per member.

Keys to Shoutmouth’s success in achieving this metric include:

• Conducting thorough keyword research and advertising on appropriate keywords and keyword groups
• Creating advertising text that maximizes click through rates
• Creating landing pages that maximize conversions while maintaining the highest Google AdWords quality score possible
• Closely monitoring conversions to quickly stop and/or modify unprofitable campaigns
• Getting individuals to enter their email address to join the newsletter is much easier than getting them to join a site where they have to create a username, select a password, etc. As such, step one will be to get visitors to sign up for artist-specific newsletters.
• Once on the newsletter distribution list, members will constantly receive messages (embedded in their daily newsletter) regarding the benefits of participating more on Shoutmouth.
• Active Shoutmouth Membership: the constant reminders regarding Shoutmouth’s value proposition in the daily newsletters will influence members to participate more actively on the site (e.g., customize their profile, visit the site more often, etc.).

Invite-A-Friend : Shoutmouth is in the process of creating an aggressive invite-a-friend/member referral program. In doing so, we are following the lead of social movie community, Flixster, which grew to 5 million members within 10 months. It did this by encouraging members, during their initial registration process, to upload and send an invitation to multiple contacts in their email address books. The technology to develop this process is fairly complex and we expect to be completed with and to rollout this program in June 2007.

Direct Email Marketing : Shoutmouth will directly contact bloggers and prominent music fans we find online to tell them about Shoutmouth, encourage them to join, and encourage them to write about Shoutmouth on their blogs and online journals .

Creating/Distributing Buzzworthy/Viral Content : Shoutmouth plans to have several buzzworthy/viral articles (i.e., content that people would want to email to their friends since it is funny, interesting, etc.) on the site each day. With a single click, visitors will be able to send these articles to social bookmarking sites such as Digg.com or Fark.com, where these articles could receive widespread attention. In addition to our traditional news stories, Shoutmouth will also periodically create special reports/features in order to satisfy our members and visitors and to try to get widespread exposure.

An example of the power of such buzzworthy content, Shoutmouth has already succeeded in having two stories accepted by Fark and Digg, which have brought in over 50,000 unique visitors.

Super Fans/Street Team Development : Shoutmouth also plans to recruit “super fans.” Super fans are individuals who are passionate about a certain music artist/band and actively contribute articles and/or comments on Shoutmouth. We will recruit these fans, reward them with status (e.g., adding a gold Shoutmouth headphones image to their profile page) and encourage them to more aggressively promote the site by:

• Submitting more news to Shoutmouth
• Commenting on more articles on Shoutmouth
• Growing the Shoutmouth community around their favorite artist(s) by actively recruiting new members to join the site (such as actively posting Shoutmouth-related comments on their MySpace pages, on other music forums, etc.)

Public Relations : Upon financing, Shoutmouth will hire a public relations firm to help us get mentions in media sources ranging from magazines, newspapers, radio, television and blogs. To date, we have developed and issued press releases via Billboard Publicity Wire which have been syndicated throughout the web. An effective PR firm will enable Shoutmouth to quickly reach a wide audience.

Widgets : Shoutmouth will create artist-specific and genre-specific music news widgets. For example, our U2 widget (see example on right) would include all of the recent U2 articles published on Shoutmouth. The widget can easily be placed on MySpace pages, blogs, etc. Each story title in the widget links to the full article on Shoutmouth.

Shoutmouth has great expectations for our widget. To begin, no such widget currently exists as there is no one place to get comprehensive news for specific music artists. Secondly, each time someone places a Shoutmouth widget on their blog or social networking page, it will effectively market Shoutmouth to a wide audience at zero cost to us.

V. Technology/Site Development Plan

This section provides a brief roadmap of the initial and future functionality of Shoutmouth.

Initial Site Functionality

The initial Shoutmouth website will include the following features:

• Ability to submit and comment on news stories
• Ability to suggest new music artists to add to the site
• Ability to create user profiles
• Ability to receive customized news and email alerts
• Articles categorized by artist and core genre (e.g., Rock, Rap, Pop, etc.)
• Music artist sections which includes News, Bio and Fans

Future Site Functionality

Shoutmouth will use news and basic functionality as the platform though which we will build a thriving music community. After initial launch, the Shoutmouth technology team will work on incorporating additional features such as:

• Ability to message other members via the site (e.g., members will have an Inbox on the site)
• Event calendars: members will receive online calendars. With the click of a button, the member will be able to add tour dates of their favorite artists/bands to their calendar.
• Articles also categorized by sub-genre (e.g., Alternative Rock, West Coast Rap, etc.)
• Music artist sections to also include videos, audio files, photo galleries, reviews and event calendars to which members can upload files and vote on top content.
• Forums and member blogs
• Music compatibility testing (suggestions on song/artists members might like)
• Trivia quizzes
• Music playlists

VI. Financial Plan

Revenue Model

During the first six months, Shoutmouth will not generate any revenues as it will not sell advertising space nor offer products for sale. This decision has been made to spur the growth of the Shoutmouth community. By initially positioning Shoutmouth more as a non-profit, for-the-people-by-the-people venture, members will be more prone to promote the site and invite their friends than if the site looks too commercial.

Starting in September 2007, Shoutmouth will primarily generate revenues from selling advertising space. As technologies (such as the Snocap music widget) evolve that allow us to seamlessly integrate music sampling and purchasing on our site, sales of downloadable music are also expected to be a significant revenue source. To a lesser extent, we may sell other music-related items such as ringtones, concert tickets, and apparel.

Funding To Date

To date, Shoutmouth’s founders have invested $500,000 in Shoutmouth, with which we have accomplished the following:

• Built the site’s core technology
• Hired and trained our core staff (we currently maintain an 11-person full-time team)
• Populated the website with content (over 10,000 articles and 1,200 artist bios)
• Generated brand awareness among music fans, including driving 50,000 unique visitors in March, 100,000 unique visitors in April, and 200,000 unique visitors in May 2007.

Funding Requirements/Use of Funds

Shoutmouth is currently seeking $3 million to provide funding for the next 24 months. At this point, the site will be profitable and can grow organically, or additional capital may be sought to more aggressively expand our member base.

The capital will be used as follows:

• Execution of Marketing plan : in order for Shoutmouth to grow its visitor and member base, we need to invest dollars in online advertising and public relations. With regards to online advertising, we are confident that we can enroll members at a cost of $1 per member, which is a fraction of the value of the members to an acquirer (minimum $25 per member), thus providing a significant return on our marketing investments.
• Execution of Technology plan : in order to build a thriving community, Shoutmouth needs to offer its visitors a “stickier” website and enhanced features. We currently maintain a vast “wish list” of features, such as members uploading and rating pictures and videos, trivia quizzes, and member-to-member messaging, that will significantly improve the site’s functionality and value proposition.
• Staffing : In order to reach our goals, we will have to hire additional technical and operations personnel.

Financial Projections

Below is an overview of Shoutmouth’s Financial Projections for the next three years. Please see the Appendix for the full financial projections and key assumptions.

Exit Strategy / Valuation Metric

Shoutmouth’s most likely exit strategy is to be acquired by a traditional music website or property (e.g., Viacom/MTV, Ticketmaster, Rolling Stone), an entertainment/media conglomerate (e.g., Yahoo!, IAC/InterActiveCorp, NBC), or a large social networking site (e.g., News Corp/MySpace).

This strategy is supported by the significant M&A activity in the social networking market, which includes the following transactions over the past 24 months:

Regarding valuation, below are the estimated valuations of social networking companies on a per member basis upon exit:

• Del.icio.us: $50 – $100 per member
• MySpace: $25 per member
• Xing (business social network): $137 per member at IPO in 10/06
• Flickr: $56 – $130 per member
• Grouper: $130 per member

Based on this data, not only are social networking sites a promising investment, but sites that can acquire members for less than $25 each (a conservative valuation estimate based on the figures above), should earn a solid return on investment. As discussed above, Shoutmouth’s goal is to acquire members for no more than $1 each.

In addition, per the membership projections above, Shoutmouth’s valuation at the end of 2009, at a $25 valuation per member, is expected to be $239 million. A more conservative, using a 24.4 time EBITDA multiple (the average multiple of tech M&A deals in 2006 according to The M&A Advisor), yields a $121 million valuation in 2009.

Shoutmouth’s founding team includes entrepreneurs and managers with a track record of success and a history of successfully working together.

Management Team

DL, Co-Founder and CEO

D has a history of successfully launching and growing businesses of all sizes. As president and co-founder of an entrepreneurial services firm., D has personally assisted in the launch and development of over 100 ventures.

Over the past three years, D founded and has managed The Kisco Group which includes an affiliate marketing division (2006 revenues exceeded $3 million), a search engine optimization business which includes a network of 3,000 websites (2006 revenues exceeded $500,000) and an e-commerce business (which includes TopPayingKeywords.com and ShowerHeadsEtc.com).

D earned his Bachelors degree from the University of South Carolina.

PK, Co-Founder and Vice President of Operations

For the past two years, P has managed The Kisco Group’s search engine optimization business where he hired, trained and managed nearly 100 employees and a dozen outside firms. During this time, P has honed his management skills with regards to content development, marketing and operations.

P has had a passion for music since childhood and has been a semi-professional drummer for the past 15 years.

P earned his Bachelors of Arts degree, magna cum laude, from Clemson University.

PF, Co-Founder and Vice President of Technology

For the past year, P has managed The Kisco Group’s affiliate marketing business. In addition to setting up and managing widespread marketing campaigns, P has developed sophisticated analytic techniques to precisely analyze web traffic in order to optimize profitability.

Since August 2006, P has shifted his efforts and leveraged his technology skills in developing the Shoutmouth website. P has been instrumental in selecting the Content Management Platform upon which Shoutmouth is built, and finding and managing the technology team.

P earned his Bachelor of Arts degree from Swarthmore College.

AB, Marketing Manager

A’s background in music includes being a singer, songwriter, guitarist and producer. He has also worked on the marketing side of music, having marketed Veritas Records through the development and distribution of promotional materials.

A’s career also includes psychological research and administration, having served as a Research Assistant with the Interpersonal Perception And Communication Laboratory in Cambridge, MA.

A earned his Bachelor of Arts degree in Psychology from Ohio State University.

M, Lead Technology Developer

M is an experienced web programmer with expertise in web design, application development and database development among others.

M’s work experience includes serving as a Senior Developer at Spheres. M has also engaged in multiple, long term freelance projects including serving as a Database Developer Consultant with The Penn Group and a Web Developer Consultant with Volution Media Group and Allied Online Consulting Group.

M earned his Bachelors degree in Computer Science with a minor in Cognitive Science from Rutgers University.

Content Development Team

Shoutmouth’s writing team, managed by PK, includes the following members:

• JS, Editorial Manager: former content manager and copywriter for Scholastic Inc. and Promotions.com.
• TZ: former music intern (Virgin Records and WRRV) and author of the blog, The Tom Z Show .
• ML: former assistant editor for Adventure Publishing; author of the blog Certified Gangsta ; and former editor-in-chief of Fordham University’s newspaper The Paper .
• SB: former staff writer for Paste Magazine , The Clarion Ledger , and Nightclub and Bar Magazine among others.
• CSJ: former editorial intern for Rolling Stone and Editorial Assistant for Psychology Today .

Outsourced Technology Team

Shoutmouth works very closely with 2skies, a technology firm based in Australia with staff in Australia and the United States. 2skies is run by JDN, one of the co-founding developers of XE, the platform upon which Shoutmouth is built.

XE is an extensible, Open Source web application framework written in PHP and licensed under the GNU General Public License. XE delivers the requisite infrastructure and tools to create custom web applications that include fully dynamic multi-platform Content Management Solutions (CMS).

VIII. Appendix: Shoutmouth Financial Projections   3-Year Income Statement

3-Year Balance Sheet

As of December 31

3-Year Cash Flow Statement

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Free Business Plan Template for Small Businesses (2024)

Use this free business plan template to write your business plan quickly and efficiently.

A good business plan is essential to successfully starting your business —  and the easiest way to simplify the work of writing a business plan is to start with a business plan template.

You’re already investing time and energy in refining your business model and planning your launch—there’s no need to reinvent the wheel when it comes to writing a business plan. Instead, to help build a complete and effective plan, lean on time-tested structures created by other  entrepreneurs and startups. 

Ahead, learn what it takes to create a solid business plan and download Shopify's free business plan template to get started on your dream today. 

What this free business plan template includes

• Executive summary
• Company overview
• Products or services offered
• Market analysis
• Marketing plan
• Logistics and operations plan
• Financial plan

This business plan outline is designed to ensure you’re thinking through all of the important facets of starting a new business. It’s intended to help new business owners and entrepreneurs consider the full scope of running a business and identify functional areas they may not have considered or where they may need to level up their skills as they grow.

That said, it may not include the specific details or structure preferred by a potential investor or lender. If your goal with a business plan is to secure funding , check with your target organizations—typically banks or investors—to see if they have business plan templates you can follow to maximize your chances of success.

Our free business plan template includes seven key elements typically found in the traditional business plan format:

1. Executive summary

This is a one-page summary of your whole plan, typically written after the rest of the plan is completed. The description section of your executive summary will also cover your management team, business objectives and strategy, and other background information about the brand. 

2. Company overview

This section of your business plan will answer two fundamental questions: “Who are you?” and “What do you plan to do?” Answering these questions clarifies why your company exists, what sets it apart from others, and why it’s a good investment opportunity. This section will detail the reasons for your business’s existence, its goals, and its guiding principles.

3. Products or services offered

What you sell and the most important features of your products or services. It also includes any plans for intellectual property, like patent filings or copyright. If you do market research for new product lines, it will show up in this section of your business plan.

4. Market analysis

This section includes everything from estimated market size to your target markets and competitive advantage. It’ll include a competitive analysis of your industry to address competitors’ strengths and weaknesses. Market research is an important part of ensuring you have a viable idea.

5. Marketing plan

How you intend to get the word out about your business, and what strategic decisions you’ve made about things like your pricing strategy. It also covers potential customers’ demographics, your sales plan, and your metrics and milestones for success.

6. Logistics and operations plan

Everything that needs to happen to turn your raw materials into products and get them into the hands of your customers.

7. Financial plan

It’s important to include a look at your financial projections, including both revenue and expense projections. This section includes templates for three key financial statements: an income statement, a balance sheet, and a cash-flow statement . You can also include whether or not you need a business loan and how much you’ll need.

Business plan examples

What do financial projections look like on paper? How do you write an executive summary? What should your company description include?  Business plan examples  can help answer some of these questions and transform your business idea into an actionable plan.

Professional business plan example

Inside our template, we’ve filled out a sample business plan featuring a fictional ecommerce business . 

The sample is set up to help you get a sense of each section and understand how they apply to the planning and evaluation stages of a business plan. If you’re looking for funding, this example won’t be a complete or formal look at business plans, but it will give you a great place to start and notes about where to expand.

Lean business plan example

A lean business plan format is a shortened version of your more detailed business plan. It’s helpful when modifying your plan for a specific audience, like investors or new hires. 

Also known as a one-page business plan, it includes only the most important, need-to-know information, such as:

• Company description
• Key members of your team
• Customer segments

💡 Tip: For a step-by-step guide to creating a lean business plan (including a sample business plan), read our guide on how to create a lean business plan .

Benefits of writing a solid business plan

It’s tempting to dive right into execution when you’re excited about a new business or side project, but taking the time to write a thorough business plan and get your thoughts on paper allows you to do a number of beneficial things:

• Test the viability of your business idea. Whether you’ve got one business idea or many, business plans can make an idea more tangible, helping you see if it’s truly viable and ensure you’ve found a target market. 
• Plan for your next phase. Whether your goal is to start a new business or scale an existing business to the next level, a business plan can help you understand what needs to happen and identify gaps to address.
• Clarify marketing strategy, goals, and tactics. Writing a business plan can show you the actionable next steps to take on a big, abstract idea. It can also help you narrow your strategy and identify clear-cut tactics that will support it.
• Scope the necessary work. Without a concrete plan, cost overruns and delays are all but certain. A business plan can help you see the full scope of work to be done and adjust your investment of time and money accordingly.
• Hire and build partnerships. When you need buy-in from potential employees and business partners, especially in the early stages of your business, a clearly written business plan is one of the best tools at your disposal. A business plan provides a refined look at your goals for the business, letting partners judge for themselves whether or not they agree with your vision.
• Secure funds. Seeking financing for your business—whether from venture capital, financial institutions, or Shopify Capital —is one of the most common reasons to create a business plan.

Why you should you use a template for a business plan

A business plan can be as informal or formal as your situation calls for, but even if you’re a fan of the back-of-the-napkin approach to planning, there are some key benefits to starting your plan from an existing outline or simple business plan template.

No blank-page paralysis

A blank page can be intimidating to even the most seasoned writers. Using an established business planning process and template can help you get past the inertia of starting your business plan, and it allows you to skip the work of building an outline from scratch. You can always adjust a template to suit your needs.

Guidance on what to include in each section

If you’ve never sat through a business class, you might never have created a SWOT analysis or financial projections. Templates that offer guidance—in plain language—about how to fill in each section can help you navigate sometimes-daunting business jargon and create a complete and effective plan.

Knowing you’ve considered every section

In some cases, you may not need to complete every section of a startup business plan template, but its initial structure shows you you’re choosing to omit a section as opposed to forgetting to include it in the first place.

Tips for creating a successful business plan

There are some high-level strategic guidelines beyond the advice included in this free business plan template that can help you write an effective, complete plan while minimizing busywork.

Understand the audience for your plan

If you’re writing a business plan for yourself in order to get clarity on your ideas and your industry as a whole, you may not need to include the same level of detail or polish you would with a business plan you want to send to potential investors. Knowing who will read your plan will help you decide how much time to spend on it.

Know your goals

Understanding the goals of your plan can help you set the right scope. If your goal is to use the plan as a roadmap for growth, you may invest more time in it than if your goal is to understand the competitive landscape of a new industry.

Take it step by step

Writing a 10- to 15-page document can feel daunting, so try to tackle one section at a time. Select a couple of sections you feel most confident writing and start there—you can start on the next few sections once those are complete. Jot down bullet-point notes in each section before you start writing to organize your thoughts and streamline the writing process.

Maximize your business planning efforts

Planning is key to the financial success of any type of business , whether you’re a startup, non-profit, or corporation.

To make sure your efforts are focused on the highest-value parts of your own business planning, like clarifying your goals, setting a strategy, and understanding the target market and competitive landscape, lean on a business plan outline to handle the structure and format for you. Even if you eventually omit sections, you’ll save yourself time and energy by starting with a framework already in place.

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Business plan template FAQ

What is the purpose of a business plan.

The purpose of your business plan is to describe a new business opportunity or an existing one. It clarifies the business strategy, marketing plan, financial forecasts, potential providers, and more information about the company.

How do I write a simple business plan?

• Choose a business plan format, such as a traditional or a one-page business plan. 
• Find a business plan template.
• Read through a business plan sample.
• Fill in the sections of your business plan.

What is the best business plan template?

If you need help writing a business plan, Shopify’s template is one of the most beginner-friendly options you’ll find. It’s comprehensive, well-written, and helps you fill out every section.

What are the 5 essential parts of a business plan?

The five essential parts of a traditional business plan include:

• Executive summary: This is a brief overview of the business plan, summarizing the key points and highlighting the main points of the plan.
• Business description: This section outlines the business concept and how it will be executed.
• Market analysis: This section provides an in-depth look at the target market and how the business will compete in the marketplace.
• Financial plan: This section details the financial projections for the business, including sales forecasts, capital requirements, and a break-even analysis.
• Management and organization: This section describes the management team and the organizational structure of the business.

Are there any free business plan templates?

There are several free templates for business plans for small business owners available online, including Shopify’s own version. Download a copy for your business.

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Legal Templates

Home Business Business Plan

Business Plan Templates

Use our template to make an investment-worthy business plan.

Updated December 8, 2023 Written by Sara Hostelley | Reviewed by Brooke Davis

A business plan is a document outlining a company’s operations, strategies, goals, and objectives. It’s crucial to guide you through each stage of starting and growing your business.

Templates (8)

What is a business plan, why is a business plan essential, components of a business plan, how to write a business plan, business plan sample.

Below, you can find free business plan templates for specific business types. You can also find more in-depth information on writing a plan for your business, whether it’s a food truck, restaurant, real estate business, or another entity:

Create a detailed plan that lays out the details of how your business will achieve it's objectives.

Traditional Business Plan

Create a simplified version of a traditional business plan.

One-Page Business Plan

Create a Non-Profit Business Plan and learn how to write one.

Create a Daycare Business Plan and learn how to write one.

Create a Restaurant Business Plan and learn how to write one.

Create a Real Estate Business Plan and learn how to write one.

Real Estate

Create a Food Truck Business Plan and learn how to write one.

A business plan is a document detailing how a business, whether it’s a new or existing company, will achieve its goals and objectives. It guides you through every step of starting and running a company.

A business plan can be the foundation of your business, serving as a written roadmap that covers all aspects of how to structure, run, and grow your business. You can also refer back to it as your business progresses to track its growth and success.

In addition to being a helpful document internally, a business plan is also vital for a company to communicate its success to external parties that may influence its future success.

Consider some of the main reasons why large and small business owners alike use business plans:

1. Use As a Roadmap

A business plan sets specific, measurable, and time-bound goals. Having these goals helps you track progress, evaluate performance, and adjust as necessary.

By laying out goals, you have a clear and attainable plan of action with the ability to see and monitor your progress.

2. Plan Strategies For Potential Challenges

A business plan can help you think objectively about your business’s key elements and inform your decision-making as you move forward.

A detailed plan can provide a semblance of control over a potentially cumbersome process. Formulating a plan can improve your ability to make choices and decisions for yourself and the business. This approach is much better than suddenly making a critical decision without time to evaluate or haphazardly letting others decide for you.

3. Get Funding or Bring on New Business Partners

An accurate business plan is essential whether or not you need to secure a business loan. Investors and lenders often require a business plan before they commit capital. A solid plan demonstrates your commitment, viability, and potential return on investment.

Create a business plan that grabs the attention of potential investors and provides them with enough structure and confidence that they will move forward and grant funding and support to your business.

You can use your business plan to highlight how the proposed business will be successful and profitable.

4. Discover Any Weaknesses

A business plan includes a strengths, weaknesses, opportunities, and threats (SWOT) analysis that helps identify potential risks and challenges. It is essential to allocate resources and demonstrate monthly profit or loss. By recognizing these elements early, you can develop strategies to mitigate or address them.

5. Analyze the Market and Competition

Market research within the plan helps you better understand your target audience, competition, and industry trends. This knowledge is crucial for making informed business decisions.

By learning about your competition, you can help make your goods or services stand out and help validate your business idea.

You should update a business plan as you go, altering your goals as necessary and being mindful of any changes of direction in your business.

A typical business plan includes the following sections:

• Executive Summary
• Management Team
• Products and Services
• Customers and Marketing
• SWOT Analysis

Our business plan template includes all of the above, so you won’t have to worry about missing out on essential sections.

Step 1 – Create an Executive Summary

An executive summary is the first section of a traditional business plan, serving as the first impression of your business. Please give a brief overview of your company, including its mission, key goals, and a snapshot of your financial projections.

You can skip this step if you’re writing a lean business plan for a startup. Instead, replace it with a few sentences outlining the problem your startup aims to solve and the solution you will provide.

Executive Summary Example:

Market research indicates there are a growing number of dog owners in Tallahassee who want to train their animals. Consumer surveys indicate that most consumers don’t have the time or resources to train their animals themselves.

Consumers have also expressed a desire for combined dog walking and training services to help discipline their animals.

Pawsitive Strides Canine Coaching & Walks provides a convenient service for customers with furry friends and disposable incomes.

Tips for Writing an Executive Summary

• Define a problem in your market and state how your business will solve it.
• Limit your executive summary to one page.
• Use a tone appropriate for your audience.

Step 2 – Describe Your Company’s Team

A professional business plan will include a statement about your company’s team and management.

Describe your startup’s legal structure. After that, you can insert a chart to show the hierarchical structure of your company. Show and name your C-suite executives, management team, and key employees. Include short biographies and links to their resumes and LinkedIn profiles to give the reader a complete picture of your staff’s qualifications.

If you have a smaller staff, you can highlight the founder and CEO and your staff members who perform the services or create your business’s products.

Example for Company’s Team Statement:

Jamie Clayton, Founder and CEO

• Board-certified veterinarian.

Pawsitive Strides Canine Coaching & Walks’s dog walkers and trainers

• 14 full-time staff members.
• 26 part-time staff members.
• All staff members have the Certified Professional Dog Trainer-Knowledge and Skills Assessed (CPDT-KSA) credential from the Certification Council for Professional Dog Trainers.

Tips for Writing about Your Company Management and Team

• Include any roles you’d like to hire to grow your company, if applicable.
• Highlight expertise and awards one to show your staff’s capabilities.

Step 3 – Summarize Market Analysis and Potential

Your business plan must also thoroughly analyze your target market and customer base. The goal here is to show that you understand your market and target audience and that there is a viable market for your business.

Market Analysis Example:

Pawsitive Strides Canine Coaching & Walks’s ideal customer is a dog owner between the ages of 25 and 65 with a high disposable income. They’re ideally a working professional or have recently retired from the workplace. They love their dog (or dogs) and want them to be well-behaved and have an outlet for all their energy.

Market research shows that Pawsitive Strides Canine Coaching & Walks has ample opportunities in the Tallahassee area:

• The total revenue for dog walking services in the U.S. increased from $900 million in 2019 to $1.1 billion in 2023.
• Dog ownership has increased by 20% over the last five years.
• Online search volume for “dog walkers in Tallahassee” is up by 10% since last year.
• 19% of Tallahassee’s residents have a household income of $125,000 or more (compared to the average of 5% across the U.S.).

Tips for Writing a Market Analysis

• Use reliable sources for acquiring data.
• Conduct consumer surveys to hear from people in your target area.
• Focus on the demand in your area and the growth potential.
• Include revenue and expense projections based on market data.

Step 4 – Describe Your Product or Service

Describe the products and services you offer. Pinpoint the value they provide to current and future customers and share your plans for research and development.

The main goal of this section is to convince the reader and yourself that your business is viable and that you have enough resources, time, and energy to achieve your goals.

Product Description Example:

Pawsitive Strides Canine Coaching & Walks isn’t an ordinary dog walking service. When a customer signs up for our monthly subscription plan, we have one of our certified dog walkers go to their house 12 times a month on a schedule that works for them.

Our dog walker takes their dog on a 30-minute walk and corrects their behavior. Their dog learns how to walk on a leash calmly and be around cars and people. Not only does the dog get some exercise and fresh air, but they also learn discipline, meaning the customer doesn’t have to worry about training their dog in this sense.

Tips for Writing a Product/Service Description

• Highlight cross-sell and upsell opportunities, if applicable.
• Emphasize what distinguishes you from other companies providing similar services/products.
• Include details for updating your offerings in the future.

Step 5 – Plan Your Marketing Strategy

Discuss the brand vision you want to cultivate, the metrics you’ll track, and the channels you’ll use to reach your target audience. Outlining how you plan to collect and retain customers will help you experience growth in the long term.

Marketing Strategy Example:

Pawsitive Strides Canine Coaching & Walks will focus on social media and direct mail marketing as its two main forms of advertising. We’ll track customer referrals to determine how many current customers are satisfied with our services.

On our social media platforms, including Instagram and Facebook, we’ll track our audience growth rate, bounce rate, and click-through rate.

Tips for Writing a Marketing Strategy

• Add the budget/resources you have, if applicable.
• Create strategies for marketing to different segments within your main target audience.

Step 6 – Conduct SWOT Analysis

Organizations use SWOT analyses to determine how closely a business will adhere to its growth trajectories. This analysis involves looking at a company’s SWOTs, which are:

• Strengths: Strengths are things your company does well. Examples include having a unique selling proposition, standout brandings, or human resources, like your employees and C-class executives.
• Weaknesses:  These barriers prevent your project or company from reaching certain milestones. Examples include financial limitations, a shortage of skilled professionals, and unclear selling propositions.
• Opportunities:  These positive external factors could give you a competitive edge. For instance, if you’re a manufacturer and the federal government cuts tariffs, you can export your products into a new market to boost market share and sales.
• Threats:  These are events, competitors, and situations that pose a risk to your company and the goals you’ve set for it. Typical threats include negative media coverage, changing customer demands, emerging competitors, and new rules and regulations.

SWOT Analysis Example:

• Appeals to people who don’t have the time or resources to train their pets.
• Low startup costs.
• Finding enough certified employees to meet the anticipated demand.
• Dealing with aggressive animals may be challenging for newer employees.

Opportunities

• Offering multiple subscription packages for customers who want more frequent training sessions for their pets.
• BehaviorBuddies is a dog walking service in Bradfordville that may take away customers.

Tips for Writing a SWOT Analysis

• Be honest with your business’s weaknesses and threats.
• Capitalize on opportunities you find through market analysis.

Step 7 – Develop a Strategy for Operations

Your business plan needs to include a thorough operations plan. This section reveals your manufacturing, fulfillment, managing, staffing, hiring strategies, and all the other processes you go through when running your business daily.

Operations Strategy Example:

Jamie Clayton will oversee the hiring of all employees, and the team lead will train all employees for at least one month to ensure they have the knowledge necessary to deal with animals of all temperaments.

The team lead will also organize the dog walking schedule to ensure all team members have enough time to arrive at customers’ houses and complete the dog walking/training sessions thoroughly.

Tips for Writing a Business Strategy

• Consider what your business needs to thrive on a daily basis.
• Account for inventory and supplies, even if your business is service-based.

Step 8 – Compile Your Business Financials

Create financial projections, including income statements, balance sheets, and cash flow statements for the first few years of operation. If you need funding, specify the amount and how you plan to use it.

Financial Statement Example:

Income Statement for the Year Ended December 31, 2023

• Revenue: $150,000
• Cost of Goods Sold: $30,000
• Gross Profit: $120,000
• Operating Expenses: $80,000
• Net Operating Income: $40,000
• Other Income/Expenses: -$2,000
• Net Income: $38,000

Tips for Writing a Financial Section

• Double-check the accuracy of financial information.
• Demonstrate how the proposed funding aligns with your company’s goals.
• Forecast future financial performance.

Step 9 – Explain Your Funding Request

If you’re seeking funding or investment for your business, explain the amount you need and how you intend to use it. Be transparent about the terms you’re offering to investors or lenders.

Funding Request Example:

Pawsitive Strides Canine Coaching & Walks has already hired a team to serve our existing customers. Once we scale to $500,000 in annual revenue over the next two years and at a 10% profit margin, our primary ongoing annual expenses (not including taxes) will total $350,000.

While already profitable, we are requesting $200,000 in the form of a business loan to buy two additional company vehicles. These vehicles will improve our employees’ ability to get to customers’ homes, and the remaining money will go toward maintaining current company vehicles.

Tips for Writing a Funding Request

• Add a timeline so investors know your goals and how you plan to use the money.
• If you seek funding in the form of an exchange for equity, an investor may expect to gain decision-making powers in your company. Plan for this situation accordingly.

Step 10 – Compile an Appendix for Official Documents

Include relevant documents, such as resumes of key team members, legal agreements, market research data, product design mock-ups, and your business’s legal structure documents.

Remember that each business plan is unique, so tailor your content to your venture and audience. Your business plan should effectively communicate your vision, strategy, and financial viability to potential investors, partners, and stakeholders.

Combine the appendix with a table of contents and footnotes section so you can reference it throughout your document.

You can download a free business plan template below in PDF or Word format:

Related Documents

• Business Continuity Plan : Outline how your business will run in the event of a range of disaster scenarios with a business continuity plan.
• One-Page Business Plan : A simplified version of a traditional business plan that outlines the basics of your business.
• LLC Operating Agreement : An internal written document among members of a Limited Liability Company (“LLC”).
• Business Proposal : Use this document to form new relationships with other businesses and organizations.
• Request for Proposal : Download this form to allow you to collect offers from various vendors who can provide goods or services your business needs.
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The document above is a sample. Please note that the language you see here may change depending on your answers to the document questionnaire.

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Unique Value Proposition: How to Create a UVP (With 7 Examples)

Your brand’s value proposition is a promise of value to be delivered. It’s the primary reason a prospect should buy from you.

It’s also the #1 thing that determines whether people will bother reading more about your product or hit the back button. On your site, your value proposition is the main thing you need to test—if you get it right, it will be a huge boost.

In fact, if I could give you only one piece of conversion optimization advice, “test your value proposition” would be it.

The less known your company is, the better your value proposition needs to be.

Table of contents

People should read and understand your unique value proposition., use the right language for your unique value proposition., what the value proposition is not, the structure of a unique value proposition, why the presentation of your value proposition matters, 1. campaign monitor, 4. evernote, 1. cloudflare, 2. continuum financial, use “boosters” for your value proposition, example of a value proposition “booster”, 1. message testing, 2. a/b testing, 3. pay-per-click advertising, what is a unique value proposition (uvp).

Value proposition definition: In marketing, a unique value proposition is a clear statement that explains the benefits of your product, how it solves customers’ problems, why it is different from the rest, and why customers should buy it.

In marketing, an ideal unique value proposition must provide the following:

• Relevancy. Explain how your product solves customers’ problems or improves their situation.
• Quantified value. Deliver specific benefits.
• Differentiation . Tell the ideal customer why they should buy from you and not from the competition.

Your value proposition has to be the first thing visitors see on your homepage, but it should also be visible at all major entry points to the site.

It’s not just for aesthetics or to placate a CEO or copywriter. Ultimately, it can improve your customer lifetime value . When I reviewed a bunch of websites , a missing or poor value proposition was one of the most common shortcomings. The value propositioning definition includes 3 important factors; make sure you cover all of them in yours.

You can also check out the Pe:p Show discussing value propositions .

A value proposition is something real humans are supposed to understand. It’s for people to read. Here’s an example of what a value proposition is not supposed to be like:

Revenue-focused marketing automation & sales effectiveness solutions unleash collaboration throughout the revenue cycle

Would you be able to explain the offer to your friend or how they’d benefit? Didn’t think so. Unfortunately, it’s no joke. Such meaningless “jargon propositions” are abundant. Avoid blandvertising at all costs.

Your value proposition needs to be in the language of the customer (informed by customer research and buyer intelligence ). It should join the conversation that’s already going on in the customer’s mind. To do that, you need to know the language your customers use to describe your offering and how they benefit from it.

You cannot guess what the right language is. The way you speak about your services is often very different from how your customers describe them. The answers are outside your office. You have to interview your customers to find it out, or use a messaging research tool like Wynter .

It’s not a slogan or a catch phrase. This is not a value proposition:

L’Oréal. Because we’re worth it.

It’s not a positioning statement. This is not a value proposition:

America’s #1 Bandage Brand. Heals the wound fast, heals the hurt faster.

A positioning statement is a subset of a value proposition, but it’s not the same thing.

The value proposition is usually a block of text (a headline, sub-headline, and one paragraph of text) with a visual (photo, hero image, graphics).

There is no one right way to go about it. I suggest you start with the following formula:

• Headline. What is the end-benefit you’re offering in one short sentence? It can mention the product and/or customer. Make it an attention grabber.
• Sub-headline or a 2–3 sentence paragraph . A specific explanation of what you do/offer, for whom, and why it’s useful.
• 3 bullet points. List the key benefits or features.
• Visual. Images communicate much faster than words. Show the product image , the hero shot, or an image reinforcing your main message.

Note: Having solid product images are just one piece of the ecommerce pie. You’ll find 247 ecommerce guidelines in this research-based report.

Evaluate your current value proposition by checking whether it answers the questions below:

• What product or service is your company selling?
• What is the end-benefit of using it?
• Who is your target customer for this product or service?
• What makes your offering unique and different?

Use the headline/paragraph/bullets/visual formula to structure the answers. (Here’s a value proposition worksheet you might find useful.)

What makes a great value proposition

The best value proposition is clear : What is it? For whom? How is it useful? If those questions are answered, you’re on the right path. Always strive for clarity first.

If your value proposition makes people go “hmph?”, you’re doing it wrong. If they have to read a lot of text to understand your offering, you’re doing it wrong. Yes, a sufficient amount of information is crucial for conversions, but you need to draw them in with a clear, compelling value proposition first.

Research about value propositions in marketing  says that the key challenge companies have is identifying an effective value proposition, followed by communicating it clearly.

What makes a good value proposition?

• Clarity! It’s easy to understand.
• It communicates the concrete results a customer will get from purchasing and using your products and/or services.
• It says how it’s different or better than the competitor’s offer.
• It avoids hype (like “Never seen before!” or “Amazing miracle product!”), superlatives (“best”) and business jargon (“value-added interactions”).
• It can be read and understood in about 5 seconds.

Also, in most cases, there’s a difference between the value proposition for your company and your product. You must address both.

Original value proposition research by CXL showed that users:

• Noticed the value proposition more quickly when it had more text (i.e. took up more real estate on the page).
• Spent longer on a value proposition as opposed to elsewhere on the page when there was more to read.
• Recalled more services offered by the site when more services were listed.
• Described more website advantages when there were more features and benefits available to read.
• Preferred information in the form of bulleted lists.
• Preference for page design was influenced by which variation was originally seen.

A key role for the value proposition is to set you apart from the competition. Most people check out 4–5 different options/service providers before they decide. You want your offering to stand out in this important research phase.

7 great unique value propositions examples

It’s tough to find perfect value proposition examples. Probably because it’s hard to create a great one. I find flaws or room for improvement with most value propositions I come across.

I’m also fully aware that I’m not the ideal customer for many of the examples shown below, and my critiques are educated hypotheses that should be tested.

Here are some good examples along with my comments:

• Very clear what Campaign Monitor does (email marketing).
• Includes the benefits to using it in the heading.
• Paragraph expands on the benefits of using the product.
• Relevant images that support text-based claims.

• It’s clear what Stripe is and for whom.
• Specific benefit-oriented paragraph.
• Relevant visuals.

• Clear statement about what Trello does for you in the heading.
• Elaboration in the subheading.
• Relevant images that show collaboration in action.

• Heading speaks to larger benefits for your life.
• Subheading takes you into how Evernote delivers those benefits.
• Clear call to action.

• Headline promises that Square will underpin your entire business.
• Lead paragraph expands on the features offered.
• Relevant image.

• Clear and succinct heading that explains what Zoom does for you.
• Lead paragraph supports the heading’s premise.

• The headline is okay, but it could be clearer (i.e. “Keep track of your laptop, phone or tablet. Get it back when it gets stolen or lost.”)
• The following paragraph does a good job explaining how Prey is useful.
• Offers an immediate test option (up the top).

Poor value proposition examples, and their updates

Some lessons from the department of “Don’t do this!”

Here’s Cloudflare ‘s evolution…

• Awful clarity: “Helping Build a Better Internet”? Nobody will understand what that means—nor does that solve anyone’s problem.
• Subheading offers some clarity and detail, but that info should be in the headinng.
• Image looks like a stock photo.

• Still lacking clarity in the heading as to what benefits it’s offering.
• Subheading is a lot more benefit-focused than the previous version.
• Image is at least custom and applicable, but the placement of text around it is odd and doesn’t really fit.

Here’s Continuum Financial ‘s evolution…

• No proper value proposition in place at all—the headline congratulates themselves on a five-year anniversary.
• Awkward phrasing if not flat-out incorrect (“…we look forward continuing to deliver…” and “What stage of your financial journey are you at?”
• No imagery above the fold; those below are stock photos.

• The heading at least refers to value the company can offer: financial happiness.
• The subheading expands on the heading: the company offers trustworthy, simplified financial assistance.
• Background image might not seem immediately applicable, but it alludes to the results people often hope for when reaching their financial goals.

So how do you make your offer unique? Often, it’s hard to spot anything unique about your offering. It requires deep self-reflection and discussion.

How to write a unique value proposition

If you can’t find anything, you’d better create something. Of course, the unique part needs to be something customers actually care about. There’s no point being unique for the sake of being unique (e.g. “the ball bearings inside our bicycles are blue”). Even if what you sell isn’t unique , you can still come up with a great value proposition.

Here are two articles that can help you find a “theme” or angle for your value proposition:

• Value Propositions That Work
• The Five Propositions that Help Companies Create Value for their Customers

Remember: You don’t need to be unique to the whole world, just in the customer’s mind.   The closing of a sale takes place in a customer’s mind, not out in the marketplace among the competition.

Sometimes, little things tip the decision in your favor. If all major things are pretty much the same between you and your competitors, you can win by offering small value-adds. I call them boosters.

These things work well against competitors who don’t offer them. Boosters can be things like:

• Free shipping;
• Fast shipping/Next-day shipping;
• Free bonus with a purchase;
• Free setup/installation;
• No setup fee;
• No long-term contract, cancel any time;
• License for multiple computers (vs. 1);
• (Better than) money-back guarantee;
• A discounted price (for a product);
• Customizable.

You get the idea. Think what small things you could add that wouldn’t cost you much but could be attractive to some buyers.

Make sure the booster is visible with the rest of the value proposition.

Notice the “Free Shipping” sign in the top left? That’s a booster.

How to test your value proposition

You definitely have to test your value proposition. How? There are three main ways.

By far the best way to test your value proposition is to put it in front of the very people you’re trying to market to, and get their perception on it. This is what message testing is for. It tells you exactly what your ideal target customers think:

• Do they find it clear?
• Is it relevant to them? Do they get it’s for them?
• Most importantly: do they want the value promised? Does it make them go “I want that”?
• And finally, is it differentiated? Is it clear why choose you over alternatives?

You will get rich qualitative information on how/where it’s falling short, so you can improve it.

The best way to conduct message testing is with a tool like Wynter .

Another good way to test your value prop is to craft two candidates (or more, if you have tons of traffic) and split test them. This will take at least 4 weeks on most sites, and requires a minimum of 500 signups/conversions per month. (You need to do proper sample size calculations upfront to know exactly how many).

The limitation here is that A/B testing will only be able to tell you if B is better than A, and by how much. It tells you nothing about the ‘why’. It offers no insight into how to improve your value proposition (unlike message testing).

Learn how to run A/B tests effectively .

Another way to go about it is to use Google Ads or Facebook Ads . This can be costly and takes at least a week or two.

Split test ads with different value propositions that target the same customer. The ad with a higher click-through rate signals a possibly better attention grabber and interest generator, but on the downside, it doesn’t necessarily mean higher sales conversions.

Send the traffic to a corresponding landing page and test conversions, too.

You need a value proposition and you need to communicate it clearly on all the main entry pages: homepage, product pages, category pages, etc.

If you don’t state why users should buy from you, you will lose most of them. To craft a great value proposition:

• Focus on clarity above all else.
• Use the headline, sub-headline, bullets, and image formula.
• Test, test, test.

Working on something related to this? Post a comment in the CXL community !

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Peep Laja is the founder of CXL. He's a renowned conversion optimization champion and was nominated as the most influential CRO expert in the world.

After setting up and running Speero (previously CXL Agency) for five years, he started CXL Institute, where data-driven marketers get trained.

Over the last 20 years, Peep has worked in web development, marketing consulting, B2B sales, SEO, PPC, and SaaS.

Join the conversation Add your comment

great, this really helped me for my marketing class. thanks!

Good post. A value proposition is not for products or services only. In the same manner you can create what is called Professional Value Proposition. To do so, answer the following three questions: 1.Why can I be useful? What business driver should I respond to? 2.How do I proceed? Which area should I focus on? 3.What results can I deliver? For what improvement? To learn more http://blog.instarlink.com/en/content/generate-value-proposition

Well written and highly useful post.

Thank you for sharing

Thanks for this post it was brilliant to see a visual representation of the good, the bad and the ugly when it comes to UVP’s. It’s been great to see examples of a UVP translated into website design. We’ve been getting caught up and stuck around our UVP and this has really helped.

We’ll come back and share our landing page when we’re less embarrassed by it!

Janine and Jo

great ! nice information for me

Google ventures said explain your value proposition in 5 seconds. I searched how to do that and found your article. Fantastic advice and 100% rebrandable :) Great links too – thanks

fabulous..!!!

I have read so many content regarding the blogger lovers but this article is actually a good post, keep it up.

Wow this might be one of the best posts I’ve read on value statement optimization. Simple, easy to read, and no longer than it needed to be. Hope to put some of this into effect soon for our own startup!

Amazing Post again.. just can’t get off this blog.. this is my 5th article in a row.. great sensible, useful content with lot of case studies and research.

I wanted to send this to my staff and some clients. I didn’t: “You have to present your value proposition as the first thing the visitors see on your home page, but should be visible in all major entry points of the site.”

Its educative,informatory,and well advising for right decision. continue with good job. kind regards.

I just wanted to thank you. I am in the web design industry, and my home page introduction isn’t really talking to anyone. I don’t have a value proposition on my home page, the the message is weak overall. Funny enough, I checked my competition, and they are the same! This info is really going to help point me in the right direction. I appreciate it.

This is very detail and great value for creating the value statement! Excellent work.

Really, really detailed, meaty article. More copywriters and designers should read this article. I must have read it 5 times, just to grasp a little more of what you where saying. Thanks to you I just increased my launch page skills a few points.

Quite informative! I really like the comparative analysis, it really highlights key elements of a good value proposition

Great article. Great Examples. Got some work to do now.

My site is kind of embarassing and to this end we are looking at a total update in our approach. Most of what is on this site to be removed to better focus on what we do in the Real Estate industry, ie. Sell, buy and consult.

A very good post, Peep. I’ve really got down what a homepage needs to have.

Teaching a concept through good and bad examples are always informative and entertaining as well. I believe that creating a good value proposition can help us in researching and selecting the right keywords for our target audience. Next, it also helps in creating content that address their problems. Finally, providing a series of solutions that make them want to buy our products or services.

I use a lot of explanations to clients as to why don’t ‘Welcome to…’ gleefully looking forward to using yours! :-) many thanks

Great article! Articles on UVP generally focus on SaaS businesses and don’t give much attention to e-commerce, so thanks for including a solid e-commerce example with Down & Feather.

informative article. keep it up. i’m following each of your article because it might help me creating my next website.

Found the article very helpful. I am designing a website and these tips are handy and useful. Thanks for publishing.

Very helpful article Peep. I have been focusing much more on conversions for websites and you clearly explained what a value proposition is. The examples you provided made it very clear. I’m going to check out some more of your posts. Thanks for your help :)

A strong value proposition is specific, often citing numbers or percentages. It may include a quick synopsis of your work with similar customers as a proof source and demonstration of your capability. It’s outcome focused and stresses the business value of your offering.

An excellent article! Great examples of what to do and what NOT to do. After 3 years online, I am finally learning how important a UVP really is.

Well done. Too often I see companies – especially young tech companies – loading up with proposition with tech jargon. We really have to get to the issues our customer cares about before they will listen.

Awesome reading, clear and makes sense. I am a full time student and am writing an assignment where I have to put value proposition of my product. After reading this article, I am much clear how I should frame my value proposition. Great work. Thank you so much.

Extremely in depth article I must say. Will definitely take it into account and do lots of testing. Should be interesting!

Those are useful value proposition examples indeed. I know there are plenty of such articles on the Net (I mean helpful ones), but there should be even more! Those are invaluable to beginner bloggers. Thanks!

Great post… I will definitely use these tactics as it relates to my endeavor I am working on.

It would be perfect to see you giving the alternatives to L’Oreal and Band-Aid.

Your website’s usability sucks. You have zoom disabled for mobile devices. Did it ever occur to you that some people may want/need to zoom? Other than that your content is good.

Really great and useful content here, thanks for putting this together :)

As always, great post Peep.

But I am wondering, could you give some examples of how eCommerce sites can do value propositioning great? If you sell, for example, archery gear, what would you do?

Excellent and decent post. I found this much informative, as to what I was exactly searching for. Thanks for such post and please keep it up.

Great article, I learned a lot.

Combined with your article about how worthless carousels/sliders were, I created a new graphic on our site. I would love any quick feedback: http://www.designpanoply.com

The slider is still there, but doesn’t play automatically, and the arrows pop up when it gets hovered over.

Keep up the great content :)

My coach just brought out the unique value proposition for my site and I came here to find out more about UVP. Great content and very useful to help write the website copy. I think I have my UVP figured out but if anyone would like to comment on it please email me.

The explaination is very useful for a business. There is this learning that could acquired by reading the article.

Great stuff, Peep.

I was really struggling to create something super exciting and totally unique but the point about using small boosters to make our value proposition unique helped a lot.

Also the distinction between what is actually unique with what is unique in our customers’ minds.

We have implemented a bunch of your tips for our new website’s value proposition.

Great post Peep. I probably have read this at least 10 times by now, love the visuals and analysis.

I thought your article was super valuable and wanted to share it. I used it in my recent post: Step-By-Step Guide: Create A Unique Selling Proposition for Your Landing Page ( http://blog.usefedora.com/create-unique-selling-proposition-for-landing-page )

This will be very useful & helps us to be competitive.

Great points and such an important topic. Having the right value proposition can really get your business going. Customization is the key.

Great article.

Explain in a good way to understand.

In Brazil, brands have a poor understanding in value proposition.

thanks for the book!

Thanks for one of the best summaries of what a value statement should be and Not BE!

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Innovation in business: Importance, benefits, & examples

For companies willing to embrace innovation during uncertain times, the rewards can be transformative , both during a crisis and in its aftermath.

In this article, we demystify the concept of business innovation , offering actionable steps and tangible examples to help ignite a culture of innovation within your organization. We delve into the many benefits of embracing business innovation and draw inspiration from real-world examples where innovation has been a game changer.

Whether you’re an entrepreneur kickstarting your business, a small business owner seeking growth, or a business leader in a larger corporation eyeing enhanced competitiveness, we believe this guide will provide valuable insights. The aim? To help you shape a robust innovation strategy that can propel your business to new heights in any environment.

What is the definition of innovation?

What benefits does business innovation bring for you, what are the different types of innovation, real-world examples of successful innovation, 10 tips for business innovation.

• How to drive strategic innovation with IMD?

In short, innovation is doing something different to create value . Business innovation refers to the process of introducing new ideas, methods, products, or services that result in significant improvements or advancements within an organization. 

Innovation often involves transforming creative ideas into new solutions that drive business growth, improve efficiency, and meet customers’ changing needs while improving decision-making and problem-solving across the organization. 

Think about Tesla’s commitment to putting the first electric vehicle on the road in 2008, or Google’s introduction of a search engine in 1998. Each innovation was unheard of at the time and represented a major paradigm shift. 

Even if modern businesses don’t innovate at this same level, innovation is still crucial in today’s world. Not only does it offer the potential for increased profit, but it can also create new jobs and increase customer trust. Your brand may develop better public recognition, and current workers may discover increased efficiency or productivity. 

In an era characterized by rapid technological advancements and a constantly shifting economic landscape, business innovation is more than just a buzzword—it’s a critical path to success.

While this isn’t an exhaustive list, we wanted to give you a better idea of how innovation can impact your organization. A few benefits of innovation for both old and new business models include:

• Gain a competitive advantage. Innovation can help you develop unique products and services that set you apart from competitors. Over 80% of digitally mature companies cite innovation as one of their core strengths .
• Meet customer demands. Sixty-five percent of fast-growing companies say they collaborate with their customers on potential innovations. Businesses that try to better understand and respond to customer needs through ongoing innovation do a better job attracting new customers and retaining existing clients.
• Drive business growth. You’ll position your company to better identify and seize new opportunities. You may also create opportunities to diversify revenue streams or expand into new markets.
• Increase efficiency and productivity. Innovation can result in increased productivity as you find ways to improve existing processes, streamline operations, and implement new forms of technology. 
• Better equipped to deal with changes. Rather than reacting to changes that catch you off guard, you’ll be better prepared to identify emerging trends and anticipate shifts in the market in advance. 
• Attract and retain talent. You can create an environment that engages your workers and results in higher levels of job satisfaction and employee retention. Many top companies give their employees a designated amount of time each week to work on product innovations .
• Promote resilience and sustainability. Your business will be equipped to navigate economic downturns and changing consumer behavior. 

Even if your innovation doesn’t produce each of these potential effects, even two or three outcomes can provide a boost to your business. As we continue, we’ll discuss different types of innovation and their specific benefits.

Not all innovation processes are identical. Innovation can take on different forms, and we dive into a few of the most common examples.

• Incremental innovation : Incremental innovation involves making small, incremental improvements to existing products, services, or processes. While it may not result in the creation of a new product or fresh concept, it can enhance value creation and produce a positive impact.  The shaving company Gillette understands the importance of incremental improvement . While major product overhauls are uncommon, the company is always looking for ways to improve its razors. When the company finds ways to make incremental product improvements that produce slightly better razors, it becomes slightly more profitable at the same time.  A great example is when the company switched from the Mach3 razor to the Fusion razor by proposing the new product as a better shaving solution.
• Radical innovation : Radical innovation usually involves making a major breakthrough or invention that creates a new market or significantly changes an existing market. These innovations are more noticeable and represent a higher-risk, higher-return pursuit.  Apple’s decision to bring the iPhone to the market in 2007 is a great example of radical innovation. At the time, the iPhone represented the combination of three unique products: a mobile phone, a touch-screen iPod, and a portable connective device enabling users to access email, web browsing, and navigation while on the go.  Fast-forward to today, when over 120 million Americans own an iPhone .
• Disruptive innovation : Disruptive innovation creates a new market or value network that displaces an existing market or value network. Rather than introducing a new product to serve an existing market, disruptive innovation represents the creation of an entirely new market that disrupts the status quo.  Netflix introduced a disruptive innovation when it decided to take its DVD-by-mail business to the next level by providing online streaming . At the time, people received DVDs by mail or picked them up from a local service.  Everything changed when Netflix decided to pivot to online streaming. Now, the video streaming market is projected to grow to over $100 billion within the next five years. 
• Architectural innovation : Architectural innovations make major changes to a product or service’s architecture to attract new markets and consumers. In other words, it repackages an existing product, service, or idea to fill a new need or attract a fresh clientele.  Although smartwatches existed in different forms prior to the Apple Watch, September 2014 represented a major development in the industry as Apple brought its first wearable technology to the market.  Since its inception, the Apple Watch has surpassed giants like Rolex in the watch industry. The Apple Watch represents an architectural innovation because it incorporates existing smartphone technology into a different form. 

“Innovation is anything, but business as usual.” – Anonymous

We’ve discussed a few examples of successful innovation in the business world, but here are a few more noteworthy examples of innovation:

• WhatsApp : Expensive SMS services once dominated electronic communication. WhatsApp changed the game by introducing a secure messaging platform for anyone with a smartphone and an internet connection. This is a great example of radical innovation.
• Gavi : Exists to save children’s lives through broader access to essential immunizations. By targeting product innovations and a single improved framework , Gavi drove its incremental innovation efforts forward and achieved a deeper level of impact. 
• Mercedes-Benz : Made the decision to prioritize digital product development in its manufacturing efforts. The incremental innovation resulted in a significantly shorter innovation cycle and a rise in the company’s overall efficiency rate.
• Discovery Group : This international insurance company made the decision to offer incentives to company leaders. The organization used a semiannual divisional scorecard to incorporate multiple forms of innovation into its culture and heartbeat and mobilize the entire company around the same goal.
• Salesforce : came to market in 1999 as an internet customer relationship management (CRM) service. The company foresaw the future by establishing a cloud-based system that could operate at a minimal cost with businesses of all sizes. Salesforce’s radical innovation continues to produce a positive impact to this day.

You now understand the importance of business innovation, but you may still have questions about how to make innovation a reality within your organization. We offer some tips that can help make your innovation more effective and beneficial.

1. Create a culture of innovation

Businesses should create a culture where employees feel empowered to share ideas, experiment, and take calculated risks. Team leaders should talk openly and regularly about the value of continual improvement.  It may help to shift conversations about new ideas away from potential roadblocks and financial sacrifices. Instead, innovative conversations should focus on potential possibilities and the impact of innovative ideas on the organization.

2. Understand customer needs

Better understanding your customers’ needs (and desires) can equip you to serve them better and longer. You can best understand customer needs by making a habit of collecting regular feedback, conducting market research, and engaging with customers to uncover insights and identify innovation opportunities. 

Consider crafting a customer needs statement that concisely defines your ideal client’s exact needs.

3. Encourage cross-functional collaboration

Encourage diverse perspectives and interdisciplinary collaboration to promote fresh ideas. Take steps to break down silos and create channels for cross-functional knowledge. 

As you do this, establish a centralized communication method or standard and encourage regular dialogue so all team members are on the same page.

4. Allocate resources for innovation

In addition to money, time is a great resource to invest. Along with research and development budgets, set a predetermined amount of time for employees to pursue new ideas and methodologies. You must also decide which tools and technologies are necessary for your team to reach the next level. 

5. Embrace continuous learning

Employees who continue to grow and stretch are better positioned to contribute to the company’s ongoing innovation and development. Provide opportunities for employees to gain new skills, attend training programs, and participate in workshops or conferences. 

Encourage employees to stay updated on industry trends and best practices. Consider setting aside time to ask employees what they’re learning and how it might benefit the organization as a whole. 

6. Promote risk-taking and accept failure

Innovation often doesn’t happen without risk. Major innovations like the iPhone and Netflix’s streaming service could have easily failed, but these organizations didn’t let the potential danger keep them from moving forward. 

Foster an environment where employees feel safe to take risks without the fear of harsh consequences. Celebrate successes and failures, and consider what you can learn from each event. 

7. Seek external perspectives

If you never take time to listen to outside voices and perspectives, you’ll miss out on a wealth of helpful information. Collaborate with external stakeholders, industry experts, consultants, or startups to gain new perspectives. 

Explore partnerships, joint ventures, or acquisitions. Adopt a humble posture in conversations, and be willing to challenge your preexisting beliefs. 

8. Set clear innovation goals

Align goals and objectives with the overall business strategy and communicate them throughout the organization. Consider using the SMART goal framework to create measurable and actionable goals. 

Another best practice is to choose key performance indicators (KPIs) or specific metrics that reflect the type of progress you hope to make.  

9. Encourage idea generation and evaluation

If you want your employees to develop new ideas, give them the time and space necessary to cultivate new thoughts. Promote idea generation by holding brainstorming sessions, innovation workshops, or suggestion boxes. 

Have a platform for employees to submit and collaborate on ideas, and ensure each team member feels comfortable and safe when it’s time to share their perspectives or thoughts. 

10. Celebrate and recognize innovation

Reward innovative achievements, highlight the individuals and teams behind them, and showcase their impact on the organization. This will encourage future collaboration and participation among your team and allow your organization to mark progress and reflect on the company’s growth and development.

How to drive strategic innovation with IMD ?

Innovation in business can sometimes feel like a complex puzzle, but when the pieces fall into place, it can propel your company to new heights. It helps redefine your product and service value, strengthen customer relationships, and create a distinctive space for you in the market.

The benefits of innovation extend to all business models, enabling companies to stand out with unique offerings. By understanding customer needs and fostering a culture of continuous innovation, companies can attract new customers and deepen relationships with existing ones. Innovation, in turn, drives growth by opening new opportunities and diversifying revenue streams.

In today’s dynamic and competitive business landscape, embracing innovation is not just an option, but a necessity.

If you’re looking to further embrace innovation, IMD’s innovation programs are here to guide you. Our programs are tailored to strengthen your leadership skills, enhance your ability to innovate strategically, and provide you with practical knowledge to drive successful innovation.

With IMD, you get more than just access to world-class faculty and personal coaching. We believe in real-world learning, ensuring that all of our participants can apply their newly acquired knowledge from day one. We are here to give you the tools you need to lead your business into an innovative future.

Discover more about IMD’s Innovation programs here!

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Are you curious how certain new businesses can completely reshape industries and leave established companies struggling to keep up? In the ever-changing business world, staying ahead of the competition requires constant innovation. While there have been many ideas and strategies over time, few have been as impactful and enduring as disruptive innovation. This article will […]

Picture this — you have a new startup or large business operating in a highly competitive market. A constant shift in trends makes it hard to keep up with your competitors and offer products people want. How will your organization keep up with those changes, thrive in the market, and set the pace for the […]

For companies willing to embrace innovation during uncertain times, the rewards can be transformative, both during a crisis and in its aftermath. In this article, we demystify the concept of business innovation, offering actionable steps and tangible examples to help ignite a culture of innovation within your organization. We delve into the many benefits of […]