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  • Why Your New Company Needs a Mission Statement Before Its First Transaction

    Why Your New Company Needs a Mission Statement Before Its First Transaction


    Opinions expressed by Entrepreneur contributors are their own.

    A lot goes into building a company before it ever makes a sale — from brainstorming the idea to developing a business plan and crafting a go-to-market strategy. Whether you’re launching a physical storefront or an online business, early-stage planning involves countless moving parts. But there’s one critical step that often gets overlooked: writing a mission statement.

    A mission statement defines the purpose of your business in one or two clear, compelling sentences. It acts as a north star for your team, your customers and your stakeholders — guiding decisions, shaping culture and communicating what your company stands for. It should be completed before launch, because it lays the foundation for everything that follows.

    In my experience managing 22 companies across 89 countries, I’ve learned this firsthand: the businesses with the clearest missions move faster, scale smarter and stay grounded in their values.

    Related: 11 Effective Marketing Strategies to Help Streamline Your Startup

    Why a mission statement matters

    At its core, a mission statement explains why your company exists. It clarifies your purpose, expresses your values and points to your goals. It’s not just a description — it’s a declaration. A good mission statement is:

    • Clear and concise
    • Actionable and achievable
    • Aligned with your company’s five-year plan

    It doesn’t just inspire; it directs. When my team faces a major decision, I often ask: What does our mission statement say? That one lens can resolve uncertainty, align priorities and keep us on course.

    For example, one of my companies has a simple mission: To empower individuals by providing clean, effective and science-backed wellness solutions. That clarity filters everything — from product development to marketing to customer service. And it keeps us focused on our longterm goals, not just short-term wins.

    How to write a mission statement

    Writing a mission statement isn’t about sounding impressive. It’s about being intentional. Here’s a simple formula that works:

    “Our mission is to [main goal for the next five years], in order to [the impact you want to make].”

    This structure keeps your mission grounded and forward-looking. Save the big, audacious future goals for your vision statement — that’s where longterm aspiration lives. Here are some great examples of clear, focused mission statements:

    • Nike: To bring inspiration and innovation to every athlete in the world.
    • JPMorgan Chase: To be the most respected financial services firm in the world.
    • Ford: To help build a better world where every person is free to move and pursue their dreams.

    Now compare that to their vision statements, which take a broader, longterm view:

    • Nike: To do everything possible to expand human potential.
    • Ford: To shorten the distance between where you are and where you want to go.

    Mission statements should be memorable. If you can’t say it in a single sentence, it’s not a mission — it’s messaging.

    Why it should come before launch

    Think of your mission as the blueprint for your business. Just like an architect wouldn’t start building without a plan, you shouldn’t start accepting orders without clarity on why your company exists.

    Your mission should guide key decisions before you ever go to market:

    • Product development: Does this align with our purpose?
    • Hiring: Do these candidates reflect our values?
    • Branding and marketing: Are we communicating what we truly stand for?

    After launch, your mission continues to guide you, ensuring that growth doesn’t come at the expense of your core purpose. It also helps your business adapt while staying anchored to its identity.

    A tool for attracting the right investors and talent

    Investors today want more than financial returns. They want to believe in your why. A strong mission statement tells them you’re building something that lasts — not just chasing short-term profit.

    The same is true for your team. A well-defined mission increases engagement, attracts values-aligned talent and builds a strong internal culture. People want to do meaningful work — and your mission tells them what that meaning is.

    Related: How to Write An Unforgettable Company Mission Statement

    Set your direction before you hit “go”

    A mission statement does more than clarify your purpose — it drives focus, builds culture, and attracts support. It helps every stakeholder — from employees to investors to customers — understand your business on a deeper level.

    By crafting your mission before your company makes its first sale, you create alignment from day one. You establish a guiding principle that shapes every action and decision — now and into the future.

    Before you launch, take the time to ask: What’s the purpose behind this business? Your answer might just be the most valuable asset you create.

    A lot goes into building a company before it ever makes a sale — from brainstorming the idea to developing a business plan and crafting a go-to-market strategy. Whether you’re launching a physical storefront or an online business, early-stage planning involves countless moving parts. But there’s one critical step that often gets overlooked: writing a mission statement.

    A mission statement defines the purpose of your business in one or two clear, compelling sentences. It acts as a north star for your team, your customers and your stakeholders — guiding decisions, shaping culture and communicating what your company stands for. It should be completed before launch, because it lays the foundation for everything that follows.

    In my experience managing 22 companies across 89 countries, I’ve learned this firsthand: the businesses with the clearest missions move faster, scale smarter and stay grounded in their values.

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  • Before You Invest, Take These Steps to Build a Strategy That Works

    Before You Invest, Take These Steps to Build a Strategy That Works


    Opinions expressed by Entrepreneur contributors are their own.

    Investing doesn’t start with your first transaction — it begins much earlier. From defining the types of investments you’re interested in to setting clear financial goals, the early stages are critical. Investing can be complex and time-intensive, especially when deciding where to place your capital. That’s why having a thoughtful, informed strategy from the outset is so important: it ensures your investments are purposeful and aligned with your longterm vision.

    Before you commit any resources, take the time to craft a strategy that reflects your goals, values and risk tolerance. A structured approach not only reduces unnecessary risk but also clarifies why you’re investing and how each decision supports the bigger picture. This clarity transforms your investment approach from reactive to intentional.

    As an entrepreneur, I’ve refined my own investment strategy over time. It’s diverse by design, built to support both my financial goals and my broader mission. If you’re wondering how to figure out where your own investments should go, here are four actionable steps to help guide your placement strategy:

    1. Define your investment goals

    Start by asking yourself: What do I want my investments to achieve? Are you aiming for longterm wealth, social impact, business expansion or a mix of these? Knowing what success looks like will shape how much you invest, when and where.

    Consider the types of investments that resonate most—whether that’s equity, partnerships, philanthropic initiatives, or ventures tied to innovation. Aligning your goals with your core values will not only give you direction but also help you stay committed when markets shift.

    Related: How to Diversify Your Business Interests

    2. Choose your asset allocation strategy

    Asset allocation — how you distribute your investments across asset classes — is central to managing risk and return. The main categories include equities, fixed income and cash or cash equivalents. Each has different risk profiles and growth potential.

    There’s no one-size-fits-all approach. My own strategy, for example, spans three buckets: equity and business investments, partnerships and strategic collaborations and philanthropic efforts. This setup works for me because I prioritize both financial returns and impact. A significant portion of my portfolio supports global health, education, and sustainability initiatives.

    A thoughtful allocation plan helps you stay balanced, even when the markets aren’t.

    3. Diversify strategically

    Diversification is a time-tested way to reduce risk. If one sector dips, others can help offset the loss. But meaningful diversification goes beyond spreading your investments — it requires research and intention.

    Dig into each opportunity. Understand the potential returns, risks, and how each fits into your broader strategy. For me, diversification also means staying engaged with sectors I care deeply about, like innovation, wellness and climate-conscious enterprises. This keeps my portfolio resilient and aligned with my values.

    Related: The Importance of Portfolio Diversification for Your Investments

    4. Stay adaptable

    Your investment strategy should evolve with you. As your goals, interests and the economic landscape shift, so should your allocations.

    I regularly revisit my portfolio with a few key questions: How are my current investments performing? Do they still reflect my vision? Are there new opportunities I should explore? Lately, I’ve been diving deeper into wellness and sustainable living, especially in high-quality nutraceuticals and biohacking. Those shifts came from staying curious and being willing to pivot when the time felt right.

    Deciding where to place your investments is one of the most important steps in your investing journey. Laying a solid foundation early on helps you navigate growth, risk, and market shifts with confidence. And remember, your strategy isn’t permanent—it’s a living framework that should adapt as you and the world around you evolve. Stay informed, stay connected, and above all, stay intentional. Your future self will thank you.

    Investing doesn’t start with your first transaction — it begins much earlier. From defining the types of investments you’re interested in to setting clear financial goals, the early stages are critical. Investing can be complex and time-intensive, especially when deciding where to place your capital. That’s why having a thoughtful, informed strategy from the outset is so important: it ensures your investments are purposeful and aligned with your longterm vision.

    Before you commit any resources, take the time to craft a strategy that reflects your goals, values and risk tolerance. A structured approach not only reduces unnecessary risk but also clarifies why you’re investing and how each decision supports the bigger picture. This clarity transforms your investment approach from reactive to intentional.

    As an entrepreneur, I’ve refined my own investment strategy over time. It’s diverse by design, built to support both my financial goals and my broader mission. If you’re wondering how to figure out where your own investments should go, here are four actionable steps to help guide your placement strategy:

    The rest of this article is locked.

    Join Entrepreneur+ today for access.



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  • A Packing List of Apps to Download Before You Travel

    A Packing List of Apps to Download Before You Travel


    So you can whip together a weekend bag or fit a fortnight’s worth of outfits into a rolling suitcase, but does your status as “packing guru” extend to your phone or tablet? Think of your device as a second carry-on, with its own packing list of apps that are essential for entertainment, getting around, safety and more.

    “Everyone talks about making the super app, the one place for everything you need,” said Gilbert Ott, partnerships director at Point.me, a website that helps travelers manage loyalty points, “but no one has done it yet.” Until that super travel app exists, here are some suggested apps to download before you go.

    Public Wi-Fi networks like those in cafes and hotels may not be secure, so to keep criminals from intercepting passwords, credit card numbers and emails, “it’s better to encrypt your internet activity,” said Mr. Ott. One method to keep data secure is to download and use virtual private networks like NordVPN or ExpressVPN, which encrypt your web doings. Both charge about $13 per month for a monthly plan, and about half that rate for a yearly plan. Another VPN provider, Mullvad, charges about $5.50 per month.

    It may be tempting to store copies of important documents like passports, health insurance cards and prescriptions on your phone as photos, but it’s more secure to use apps that encrypt that information, like 1Password (starting at $35.88 per year) and Microsoft OneDrive Personal Vault (included with a $99.99-per-year Microsoft 365 subscription or, for nonsubscribers, three files free storage).

    The U.S. government’s free Mobile Passport Control app can help U.S. citizens and some other groups — even travelers not in the Global Entry program — make their way through immigration and customs more quickly by scanning their passport into the app and adding a selfie within four hours of arrival. Preloading the information speeds your interaction with the officer.

    For detailed information on public transportation that can go beyond Google Maps, Moovit (free with ads or Moovit+ with additional features and no ads for $17.99 per year) and Citymapper (free with ads or $9.99 per year) can help with routes, fares and trip length around the world. In cities like New York and London, make sure you’ve loaded a credit or debit card in your digital wallet and set it up for transit to avoid lines by using touchless payment at turnstiles.

    In some countries, hailing a cab on the street may be difficult or unsafe. So where Uber and Lyft aren’t available, download local trusted ride-hailing apps that offer set fares and location tracking. In Vietnam, Thailand and other Southeast Asian countries, for example, Grab offers rides in cars, taxis and on the backs of motorcycles. In India, Ola is a popular choice.

    For hours spent in planes, trains and hotel rooms, load your device with a mix of diversions and destination information. Taylor Beal, a travel blogger from Philadelphia, who leads high school groups on trips to Europe, recommends borrowing electronic library books using Libby and Hoopla. The apps are free but require a local library card from one of the more than 90,000 participating public libraries and schools.

    For road trips in the United States, the phone app Autio ($35.99 annually, with a free trial) offers 23,000 short stories and information about the surrounding landscape and history, based on your location. Offerings include Kevin Costner on the northern Great Plains and John Lithgow on “Footloose” filming locations.

    Keeping track of who paid for what among a group of friends can be a fun-killing chore. Jamie Larounis, a travel industry analyst for Upgraded Points, recommends Splitwise Pro ($39.99 per year, or a limited free version), which tracks and divides up expenses for taxis, meals and more. Other apps like Tricount (free) and Settle Up (free, or $19.99 per year for the premium version) offer similar services.

    For tracking flights and making plans either solo or with companions, TripIt (free version or TripItPro $49 per year) and Wanderlog (free version or Wanderlog Pro for $39.99 per year) can tame even complicated itineraries.

    You may already have Google Translate on your device, but that app also has some lesser-known handy features. Point your camera at a foreign menu, train station sign or receipt, for example, and Google can translate it — even with non-Roman characters. The Conversation button in the app lets you pass your phone back and forth when you’re trying to get directions, order food, ask for help and more. You can even create a custom phrase book in the app.

    Bloomberg Connects has teamed up with more than 800 museums and other cultural spaces, like the New York Botanical Garden, around the world to offer free information on their exhibits, complementing local organizations like the Musée Carnavalet, a history museum in Paris, which often have institution-specific apps.

    Of course, there’s also always the good, old-fashioned way to travel — wandering around and letting serendipity take the lead. Is there an app for that, too?





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  • Your Clients Are Using AI to Replace You — Do These 3 Things Before They Do

    Your Clients Are Using AI to Replace You — Do These 3 Things Before They Do


    Opinions expressed by Entrepreneur contributors are their own.

    If you think using AI to save time is enough — you’re already at risk.

    Your clients aren’t just admiring your efficiency. They’re studying it to replace you. AI now delivers 80% of what most service providers offer — at a fraction of the cost. Freelancers, consultants and agencies are getting blindsided as their clients quietly build AI workflows that eliminate the need to rehire. In this video, I’ll show you how to flip the script and become irreplaceable.

    While most professionals are still stuck using AI for content drafts or task automation, the smartest entrepreneurs are repositioning themselves as designers of outcomes, not just doers of work.

    Inside, you’ll learn the three steps to audit, evolve, and future-proof your offer — before your clients replace it.

    • How to spot the hidden weakness in your offer before your clients do
      If you don’t audit your service, your clients will — and when they realize AI can do it faster and cheaper, it’s game over. I’ll show you the first move to make now.

    • Why “doing the work” is making you replaceable — and what to do instead
      Execution used to be enough. Not anymore. Discover how to shift into the only role AI can’t automate (and clients will actually pay a premium for).

    • The one thing AI can’t replicate — and why it’s now your greatest asset
      It’s not your skills. It’s not your speed. Learn how to turn your story and perspective into a positioning moat that makes you untouchable — even if AI clones your voice.

    Whether you’re a solo consultant or leading a lean team, this is your blueprint for staying one step ahead of AI — and 10 steps ahead of your competition.

    Download the free “AI Success Kit” (limited time only). And you’ll also get a free chapter from my brand new book, “The Wolf is at The Door – How to Survive and Thrive in an AI-Driven World.”



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