If You Don’t Know Where You’re Going: Business Mission & Vision Planning
This time of year, many companies are drafting or finalizing their strategic plans for 2024. However, what guides them and how do these goals get formulated? In my experience, companies that are “doing it right” have a well understood and embraced mission and vision which helps them to make those decisions.
Mission and vision dictate the direction of the business and form the basis for your company’s culture. Moreover, it is that culture that drives how your business grows over time. Unfortunately, these two concepts are often ignored or discounted as meaningless by too many business owners. If you fall into this camp, it’s not too late.
Over the next few weeks, we will review these vital business topics in more detail. Below are a few articles that I think would be helpful in thinking about your company’s mission, vision and strategic direction:
- Why Mission And Value Statements Matter (forbes.com)
- It’s Time to Take a Fresh Look at Your Company’s Values (hbr.org)
- How to Develop a Company Vision and Values | Entrepreneur
Just remember, as Yogi Berra said, “If you don’t know where you’re going, you’ll end up someplace else.”
Here are a few other items of interest:
- Small Businesses Oppose Burdensome Lending Rule (nfib.com)
- U.S. Department of Labor Proposes Rule to Extend Overtime (nfib.com)
- Main Street Hails PA Commonwealth Court’s Ruling Against RGGI Tax Hikes – NFIB
- November Update – August Wealth Advisors (thanks to Howie Greenberg for sharing)
- Economic Review: November 2023 – Silvercrest (silvercrestgroup.com) (thanks to Sean O’Dowd for sharing)
- Year-End Tax Strategies (eisneramper.com) (11/20; 12-330pm EST)
As always, please don’t hesitate to email myself (jsanders@mpl-law.com), Andy Miller (amiller@mpl-law.com), Christian Miller (cmiller@mpl-law.com), Erik Spurlin (espurlin@mpl-law.com), Brad Leber (bleber@mpl-law.com) or anyone in our office with questions or comments.
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