One of the more important questions to answer for a startup is the general “why” question: why are you in business? For us we make it simple. We’re in business to provide an environment for good work, good people, and good pay. I know this sounds generic but it drives everything we do. Here’s part of how we define the terms:
- Good work – defined as work that is fun, interesting, and challenging
- Good people – defined as people that are positive, self-starting, and supportive
- Good pay – defined as compensation that is above average with great benefits and perks
This approach isn’t for everyone but it has worked well for us. I recommend coming up with a formal business purpose as well as an answer to the “why” question. The most important thing is to make the purpose meaningful and live it in the company.