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If business owners do not understand how important it is to have a problem, mission and vision statement in their business says part-time CFO. They may be missing an opportunity to keep their business plan as well as themselves focused. Not only is it important for business owners to create the statements. But once they have created them, they need to use them effectively in order for them to work.
Therefore, part-time CFO recommends that once business owners have written their problem, mission and vision statements. Not only do they put them in their business plan. But they should specifically put them in their business plans executive summary.
The Executive summary is one of the most important parts of the entire business plan. Because it summarizes all of the most important parts of an entrepreneurs business plan. And while many business owners right there executive summary in order to appeal to their bank or financial institutions.
The executive summary can be used for more than just obtaining financing says part-time CFO. Because not only does it keep the entire business plan focused. But whenever an entrepreneur reads their own plan. They are reminded of problems they are helping their customers solve.
And also, they are reminded of how they are going to be accomplishing all of their business goals. Therefore, they should make an appointment with their part-time CFO to help create an effective and well-written problem, mission, and vision statement.
One of the first things that they should keep in mind, is that each phrase should only be a single sentence long. While it is very easy to write a complex idea in several words. It is much more difficult to write the same idea in a single sentence. But once a business owner has accomplish this. It can be an extremely powerful sentence.
A business owner can start with the problem statement. Which is identifying what problem they are solving for their customers when they sell them a product or service. They need to understand that no matter what their business is, whenever a customer buys from them. It is because they have a problem that they are solving.
When business owners understand that problem is, then they can more clearly understand how they are helping their customers. And how they can find more customers with the same problem to sell the Nixon services to.
Next comes the vision and mission statement says part-time CFO. And the vision statement is different than the mission statement because it will have goals that are measurable. And that has a time attached to it. However, business owners need to keep in mind that it needs to be a long-term goal. That cannot be easily accomplished in a short amount of time.
Once they have crafted their effective and dynamic problem, mission and vision statements. That is when they should be putting it in their executive summary of their business plan. So that every time they read their business plan, or even just there executive summary. They will be reminded of why they are in business. And how they are planning to accomplish their goals and grow.
Even though many business owners that some point taken the time to create a mission and vision statement for their business says part-time CFO. If they did not fully utilize those statements to their full potential. They are missing out on an opportunity to help focus their business and grow.
Part-time CFO says the problem, mission and vision statements are extremely important to a business. Because not only do they keep an entire business plan focused. But also, because they can keep the business owner themselves and their employees focused as well.
When everybody understands the problem, the mission and vision of the business. That can help guide everyone’s actions. This is part of the reason why it needs to be a single sentence each for the problem, mission, and vision statements.
Part-time CFO says that business owners also need to ensure that they are writing these statements in as plain language as possible. So that they leave absolutely no room for interpretation. And that it can be very easy for all employees to hear as well as memorize.
The power of these sentences, is that they can help guide a business owner and an employee’s actions. If they simply are able to keep in mind what the mission and vision of the business is. Therefore, it is not just important for business owners to write their problem, mission, and vision statements and communicated to their staff once.
But in entrepreneur needs to communicate this information to their staff on a regular basis. And as often as possible. In order to make it part of the company culture. Business owners need to ensure that they are not just communicating at once and then never again. Another going to have to repeat it is far more often than they think that they will ever have to.
Part-time CFO recommends letting staff know the mission and vision of the business days if not more often than that. And at every staff function whether it is a staff meeting, a training session. Or even ensuring that it is visible in every single room in the business.
In order to help all staff members know what the mission and vision of the business is. A business owner should ensure that each employee has herded enough times to be able to commit it to memory. And that they can recall it whenever they are solving a problem. That as long as they are acting within the mission and vision of the business. They are not going to act incorrectly.
Therefore, a business owner needs to ensure that not only are they crafting problem, mission and vision statements. But also that they are utilizing it. But putting it in the business plans executive summary. But more importantly, that they are viewing it themselves and communicating it regularly with all of their staff members. So that everyone is working towards the same goal with each other.
