Today's episode is part of our getting started basics series where we go over the beginning blocks of starting a business. Today’s topic is The Perfect Day Exercise.

When I hired my first business mentor, Chris, he had me start with an exercise called “The Perfect Day.” In this exercise you envision what your perfect day running your business looks like to you. From when you wake up, to the tasks you are doing, to the people you are with and more.

Today's episode is part of our getting started basics series where we go over the beginning blocks of starting a business. Today’s topic is The Mission Statement

First, what is a mission statement?

It is a statement or summary of your business plan, your vision, your values and goals of the business. It can also relate to the branding and identity of the business, what kind of customers you are attracting and more depending on the type of company you have.

The mission statement is how you believe the company will deliver the vision statement and business plan. In a way it should also answer the question of why you are making the decisions you are making. The mission statement should give an outside person an idea on the how and why you will show up in the market.

This episode is part of our getting started basics series where we go over the beginning blocks of starting a business.

Today’s topic is crafting a Vision Statement for your business or idea.

The vision statement helps us define what our business will become and how we will do it. By reviewing and clarifying your vision statement you can stay true to your path.

When I got started with my 3rd business, I realized that I might need a business plan. Only I had no idea what it was used for at the time.

After 15 years in business I realized that most businesses use their business plan incorrectly or at worse have one that they never actually use or update.

In this episode I hope to point you in the right direction with crafting and updating your business plan. Don't just let it be a dead piece of paper you shove in a file somewhere.

Even if you already have a business plan I suggest that you update or create a new version each year towards the end of your fiscal year.

Start with the Who, What, Where and how as a guideline.  Then spend some time digging into each of these deeply, talk with others that have been doing what you are doing but longer, say about 5 yrs.

If you already have customers you can talk to a few of them in person about these to see if you are lining up with the customers expectations or sending out a survey.

Welcome to 5 min entrepreneur!

Where we distill the business knowledge to small chunks so you can take action. Each episode will be kept close to 5 minutes with content that will make you think or act.

All of the information I will be sharing has been gathered through experience in the trenches learning and doing.

Hello, My Name is Rich Borgatti and I have created and founded multiple businesses, some have grown, been sold and others have failed. I have been part of mentoring groups and masterminds, been a subject matter expert and have trained and taught others.

I know what it’s like to be an owner/operator and a founder. I have worn many hats as an entrepreneur and also as an employee in multiple start ups. I want to pass on the advice and lessons that helped me along my journey.

I have spent 10’s of thousands of dollars to learn what I know as well as many hours in the arena of small business and am now ready to share them and pass them on so others can learn and grow as well.

Go ahead and hit that subscribe button and get ready for business knowledge 5 minutes at a time.