Free consult & free copy of book

E-Myth – “Why most small businesses don’t work & what to do about it”

Contact Us


Most 5 star CPA Google reviews in Canada

Read Reviews

Chartered Professional Accountants E Myth

1 Fixed Monthly Fee - Planning | Accounting | Taxes | Consulting

Helping Canadian businesses beat the odds!

Part-time Cfo | The Importance Of The Mission And Vision

many business owners write their executive summary in order to get financing says part-time CFO. However, they need to realize that there is other information that they should be putting into the executive summary. One of the best reasons why is because if the business owners and selves. Do not have time to read their entire business plan on a regular basis. If they include key aspects into their executive summary. They will be reminded of what they need to know in their business.

Putting the problem and mission of the business into the executive summary is an example of something that should be put into this important section of the business plan. The reason why is because it often guides the entire rest of the business plan together according to part-time CFO.

The executive summary is the most important section of the business plan. Mostly because it summarizes all of the most important aspects of the business plan. And while banks and financing companies read it. In order to make their decisions on financing a company or not. They should include more than just financial information in the statement.

When business owners are writing their problem and mission and vision statements. Part-time CFO recommends that they keep it as short as possible. Ideally, one sentence each. If they make their mission and vision statements to long, not only is it hard to read. But is also hard to get their staff to learn and remember it as well.

The problem of the business needs to be what business owners are solving for customers by their product or service. If business owners consider that every consumer is solving a problem by purchasing the product or service from them. They will be able to come up with a statement on what problem they are solving very easily.

Many business owners get confused about the differences between the vision statement and the mission statement says part-time CFO. But if business owners can remember that vision statements should have a long-term and quantifiable goal. That can help them understand the differences between the two.

For example, vision should specify how the goal is going to be reached, by having a goal that is measurable, that has a time frame around it. Part-time CFO reminds business owners that it should be a long-term goal. And something that they should not be able to easily complete quickly.

When business owners are writing their vision, mission, and problem statements. They should get different opinions on that, such as their part-time CFO. So that they can figure out if it is saying much they hope it saying. And they can help keep it very short.

Once they have a well-written problem statement, as well as mission and vision statements completed. They can not only be included in their business plan. But included in their executive summary. And if they do not have time to read their entire business plan on a regular basis. As long as they are reading the executive summary. They can be reminded of why they are in business. And why they are doing what they are doing.

Showing You Why A Part-time CFO Is Useful

If business owners are not including their mission and vision statements in executive plan their business plan executive summary says part-time CFO. They are missing out on including these important statements in the most important section of their business plan.

Many business owners underestimate the value of having the problem, the vision, and mission in their business plan. Often thinking that the executive plan only needs to be written in a way to help them get financing. And while banks typically do not care about the problem, the mission, and vision statements. It still should be included in the executive summary.

An executive summary is the part of the business plan that summarizes all of the most important aspects of a business owner’s business plan according to part-time CFO. And since the mission and vision statements guide the business plan. This is the reason it should be included in the executive summary.

Not only do many business owners do not put their mission and vision statement in their business plan or even their executive summary. Part-time CFO says many business owners do not even take the time to write their statements out.

It is very important that business owners do take the time to figure out what their mission and vision is. So that they can easily communicate the reason why they are in business to all of their employees. Part-time CFO says that when business owners are writing these important statements. Not only do they need to be short and distinct. So that they can be easily remembered and acted upon.

But also, business owners need to write their mission and vision statements in such away. That there lowest level employee can easily read and understand this information. As well as remember it. So that it can help guide any decisions they need to make while working for the business owner.

Business owners need to understand that it is important to communicate their mission and vision to employees on a regular basis. An entrepreneur cannot expect that employees will remember it is only hearing it on the first day that they are hired. And that they are going to have to continue to communicate it as often as possible. And more often than they think they will have to.

The daily repetition of the reason why the business exists. Can help ensure that all employees know what is most important. So that they can act accordingly. And help make more informed and guided decisions say part-time CFO. Therefore, a business owner should communicate with the mission and vision on a daily basis.

As well as communicate the mission and the vision at every opportunity. Perhaps by writing it in every single room of their office. And communicating it at every staff meeting and training session.

When business owners understand how important the mission and vision statements are in their business. They will take the time to craft meaningful statements. That can help not only tither business plan together. Help use it to guide their business towards success.