These are created before you begin any planning. They include your personal and business objectives, what it is you want to accomplish in life, the reason you are going into business.

Motivating Factor

Motive factor is your motivating factor. It is what drove you into business in the first place, the defining elements of your passion for the business.

Example:
I am excited about our companies ability to . . .
I love to help people . . .

Vision

A vision statement is primarily an internal document that is a guiding light and the primary source of motivation for business planning and strategy development and communications, both outside and inside the company.

Example:

If someone’s vision is to become the best steak house in town, the company will not spend lots of time working on perfecting tofu.

The litmus test:

Does this vision begin with a foundational statement followed by how the foundation is to be mediated and end with how it is implemented?

Vision Statement >>>>>>>>>>

Vision Statement, (an Empowering Statement that Motivates Our Clients and/or Stakeholders)

When you think about when you started or first came up with the ideas for your business, what words describe your feelings?

Now write down the essence of what your motivating factor is, this is your motive-factor.

Expresses What Our Differences Are

Defines Who We Want to Become

Celebrates Our Passion

Key Words from all above categories:

Vision Statement

Core competencies are used to define to the company and others what you do and understand best. They are also primarily internal documents that are used as part of the foundation for business planning, communications and strategy development both outside and inside the company.

Example:

If a company is good at making steaks and baked potatoes, they will not focus on hiring chefs that work in Mexican fast food.

The litmus test:

Do these core competencies begin with a foundational statement followed by how the foundation is to be mediated and end with how it is implemented?

Eliminates What We Do Poorly

Defines What We Have to Offer

Keywords

Core Competencies

Values are used to define what you believe about what you do and connect others to you with compatible values. They are also primarily internal documents that are used as part of the foundation for business planning, communications and strategy development both outside and inside the company.

Example:

If a company’s values are to have clean facilities, they will put aside funding to have the restrooms and the building cleaned, if not, people coming in that have “cleanliness� as a value will walk out disgusted.

The litmus test:

Do these values begin with a foundational statement followed by how the foundation is to be mediated and end with how it is implemented?

What Guards what we do

Keywords

Values

This is created after the business plan
It is a short description of how you are going to win.