Identify Core Values: Determine the fundamental principles that will guide the business. Understand the Market: Conduct a thorough analysis of the market to understand customer needs and preferences. Vision Statement: Draft a vision statement that outlines the long-term aspirations of the business. Mission Statement: Create a concise mission statement that clearly communicates the purpose and goals of the business. Feedback and Refinement: Seek feedback from stakeholders and refine the mission statement accordingly.