Do I need a mission statement for my small business? | Small Business Advice

Release Date:
May 15, 2023

In this short video, Joey Thomas, an entrepreneur and small business educator, discusses the importance of having a mission statement for your business, no matter how big or small it is. A mission statement defines your business, its products and services, and even your customers. It helps you set your goals and ensures they align with the ultimate purpose of why you started the business. He also shares examples of great mission statements from companies like Starbucks, Warby Parker, Walmart, and 17hats. Joey encourages viewers to create their own mission statement and keep it simple, with just three parts: what you do, how you do it, and why you do it. Having a mission statement can save you time and ensure that your goals align with your business's purpose.