So you have decided to start a business. Assuming that you already have a plan written down. Then you can start executing. Perhaps you might also want to prepare yourself for not making any money. Or worse making negative money. Still fortune favors the prepared.
It’s not a secret that in business you will be faced with some difficult questions. Questions like, when does a business officially become a business? Is it when you come up with a product to sell? Is it when your business plan is ready? Or when you get funding?
I will not downplay the importance of money. But all businesses must have a purpose. This purpose is contained in the vision and mission statements. And this is where all businesses must start, with a purpose. We all have heard that where there is no vision, people perish.
So how do you come up with a purpose for a business? First of all consider that all things concerning your business must be written down. Then you must embark on a task of setting goals. Think about what would you like to achieve. Of course you want money but think about the ‘why‘. This ‘why‘ is the purpose, the mission, the vision. And it is what you will need to get through those moments of not making any profit.