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Startups Should Outline Their Company Goals from the Beginning
Published on Dec 30, 2010
Read 'Startups Should Outline Their Company Goals from the Beginning' at 'Time to Start Up,' the small business blog by BizFilings.
Forming a company is a complicated process, but it is usually guided by a founding goal, principle or ambition that inspired the entrepreneur to start a business in the first place.
These "missions" serve to highlight a company's purpose, beyond profits and bottom lines. They remind owners and employees alike what their company is about, and can even help guide the decision-making process, as money is not always aligned with the aims of its foundation, especially in the wake of the U.S. financial collapse of 2008.
Google accurately represents this challenge with its mission "to organize the world's information and make it universally accessible and useful." Meanwhile, the multi-billion corporation has also been known to more facetiously tout the mantra "Don't be evil."
What most defines the culture and purpose of a company is decided by the entrepreneurs who founded it. Author and venture capitalist Randy Komisar argues that there are basically two types of modern entrepreneurs.
"Mercenary entrepreneurs - today disproportionately running consumer-web businesses - are young, aggressive and ambitious people, which are all good qualities, but they have no broad picture or purpose," he told Inc. magazine.
"Missionary entrepreneurs - more often found running life sciences, green technology, infrastructure or deep sciences businesses," he continued, "have a bigger goal beyond just making money."