Google PlusTwitter

The Mission/Vision Statement First – Really?

By on Jul 10, 2008 in Wisdom | 5 comments

In this post, I’ll rant about something that I personally think is stupid. However, the rest of the world, most probably, thinks that its the smartest thing to do. I’m going to talk about importance of writing a mission statement or vision statement or even the business plan before starting a new business. I think all of the above are totally NOT required. My friend KGV got admitted to NITIE, which is a very good business school in India. He rang me to know more about domain registration and web-hosting. He told me that everyone in his class has been asked to float a company! 😯 A real business! Wow! How exciting! I wish I were there 😀 . But what he told me next was rather disappointing. He said their first task is to come up with a vision statement followed by a mission statement and a business plan. I personally think that’s not the right way to start a new business....