As you begin to venture into home based business it is important to have a mission statement. Businesses at all levels from simple mom and pop stores to large fortune 500 companies all have a mission statement and you should not be any different. A mission statement is defined as a brief one or two sentence statement of the fundamental purpose of your business, or put another way why does your business exist. In the home based business arena people have the tendency to not view their business like a real business and that is a mistake. Having a mission statement can have a dramatic impact not just on the type of business but also in the way you conduct your business as well. Here are 3 other things a mission statement will do for your home business:1. It defines your why – Have you ever asked yourself why do I want a home based business? Identifying this one thing is critical to your motivation to continue. Running a business from home takes time, commitment and effort for it to work. It comes with frustrations and successes. Sometimes when you are first starting out there are more frustrations than successes. Knowing why you are in business can keep you focused on the prize you are trying to grasp while you are learning and growing your home business.2. It defines your values – All businesses have some type of business culture which is driven by the values of the company. Your values in essence tell who you are. They are ultimately the way you will choose to operate your home business. They will dictate how you treat your customers and how you build your team. If you are building a network marketing team your values can become a critical selling point as to why someone should join your team. They will speak volumes to your character and your integrity. Your values should flow directly out of the reason why you are in business. Remember you are not just running a business but you are creating a culture and your values will help shape that culture.3. It keeps you on track – One of the biggest problems especially in this internet age is distractions. If you search online there are thousands of home business opportunities out there. Knowing what your mission statement is will allow you to only consider opportunities that line up with your purpose and what you want to accomplish. In fact before you even consider a business you should write your mission statement and only find businesses that correspond with that. Imagine the power you will now have because now you can’t be sold into just any home business because now you’re not just looking for any opportunity. Opportunities you consider must now meet your criteria and not the other way around. By the way every successful business person looks at opportunities this way.Your mission statement is critical to your why, how and way you will do business. Not knowing these things can damage your home based business before it ever gets off the ground. Take some time and identify these things. It will change the opportunities you consider and it will make a huge difference in your home business.