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#AskPeshev 48: How Mission and Vision Statements Work
#AskPeshev 48: How Mission and Vision Statements Work
“Every process within the company is derived from the core objectives pursued by the business – and other subtle yet important elements the entire organization (and its executive team) deeply care about. ”
— Mario Peshev
As we’re just heading into Q3, it’s a great time to refine our business strategy for the rest of the year.2020 was crazier than ever - and planning generally obeys different rules now. But even if chaos has surrounded your clientele, putting your processes in order is the best next step.In this weekly newsletter, I’m covering the essentials of mission statements and vision statements: how they work, why businesses prepare them, and what’s the general outcome of maintaining them.If your business hasn’t defined them yet, it’s probably the right time to pursue.P.S. Don’t miss out my interview for WP Founders - it’s been a while since I enjoyed a chat so much!Mario
I was an introverted nerd as a kid and spent most of my time with books or around computers. Currently, I run DevriX, a team of 50+ that pioneered “WordPress retainers” for SMEs, publishers, and funded startups, and Growth Stuttle – a boutique business advisory for high-end strategy and consulting.
It's All About Reading...
Have you developed a mission statement for your company? What about a vision statement?Small businesses aren't bothered by the bigger picture of their "corporate brand". This tends to be a common problem for growing corporations - or hot startups in need of a powerful motto able to persuade investors.
A few years ago, the market was saturated by emerging startups inventing the next “Uber for X” or “Airbnb for Y”. The implementation was often flawed, but the concept remains legitimate.Once a market grows to $50B, $100B, $500B, a segmented space still represents a significant chunk worth fighting for.
What does it take to bootstrap a product?1. Study failing startups and combat the common reasons ahead of time2. Keep ROI top of mind3. Come up and refine your product idea4. Perform competitor research and study the marketread more…
Smartphone camera benchmarks are doing it wrong.
"Best in class" and "Doesn't match to X flagman" is not what users really need.
"Failing in low light", "Blurry front camera", "Distorted telephotos" are warning signs I would clearly pay attention to.
— Mario Peshev (@no_fear_inc)
10:25 PM • Jul 5, 2020
Smartphone camera benchmarks are doing it wrong."Best in class" and "Doesn't match to X flagman" is not what users really need."Failing in low light", "Blurry front camera", "Distorted telephotos" are warning signs I would clearly pay attention to.
Being in the SaaS industry is completely different compared to selling products to the mass consumer.If you offer a wide range of services for different audiences, you need to niche down—it's the way to skyrocket your business.But, you need to focus first.
There is light at the end of the tunnel!Signs that our economy is recovering from the distress due to the coronavirus is that consumer behavior is slightly returning back to their usual shopping habits.Since the beginning of April, there has been a considerable uplift in reattribution.
As for every first Tuesday of the month, I've compiled some of the most applicable and strategic tips for business owners and managers out there.Which one is your favorite?