The north star that guides all your positioning and messaging efforts. It needs to answer the question of what you do, who you do it for, and why it matters.
Here's an analogy.
Just like the north star always stays due north, your foundational statement should serve as the guiding light that cements and stewards all outputs for your organization, whether that is marketing, sales, or something else.
Why does it matter?
A strong foundational statement offers guidance and internal alignment. With it, you enable your team to clearly articulate the value you provide, to demonstrate how you stand apart from the competition, and to communicate a consistent message to your target audience.
How does it apply?
In the digital product world, your online presence may be the only interaction you have with your customers, so you need to make sure that this presence communicates a message that is clear, repeatable, and consistent.