Mantras are mission statements that are short precise, and it explains to you, your co-founders, investors, shareholders, fundraisers, employees, and targeted customers what your company goal is. Make a note not to make a very generic mission statement. Once that mantra is done, you, as an entrepreneur, must know the different business models and how they form the internal architecture. In this chapter, you will learn about bringing the mantra based on your idea or product, and later, we will dive deep into the various business model and understand how they help a business.

Mission Statement

It is your responsibility as an entrepreneur for your organization to come up with a mantra that serves all your purpose, including your idea or product. It is understandable to investors, shareholders, fundraisers, employees, and targeted customers. The size of your company mantra should be 3 -8 words long. Let suppose, if I'm a company, my mantra will be "Empower Yourself." Similarly, I can relate you to other mantras of different companies of different domains. Let suppose Nike's mantra would be: "authentic athletic performance." FedEx or DTDC's mantra would be something like: "peacefully want something in someplace", Google's mantra could be: "democratize information", Apple's mantra could be: "enhance computing for a better life", Wix's mantra could be: "easy web design", Udemy's mantra could be: "democratize premium learning".

So, you can create a mantra that everyone could understand. It is recommended not to hire a consultant to create a mantra. Try creating that with your co-founders, well-wishers, and yes, don't waste your funds and financial strengths on these types of things by hiring consultants. For creating a mantra, you and your co-founders have to listen to your heart, as for why your company exists, what is that people need from your idea or product, what is that you as an entrepreneur benefit society, what are you trying to do? All these things will bring you the essence of creating a mantra that fits your need. Make your mantra logical and short.

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