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

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Part Time CFO | What Is the Problem, Mission and Vision of the Business

 

Entrepreneurs need to understand what the problem, the mission and vision of their business is said part time CFO. Because these become driving forces behind their business. Helping entrepreneurs, as well as employees What they are doing in business. And how they are helping customers.

It is easily one of the most important things for a business owner to come up. And one of the most important things to put in their business plan. Part time CFO says that once a business owner has come up with a dynamic and Powerful problem, mission, and vision for their business. They should put it into the executive summary of their business plan.

An executive summary of their business plan is the most important section. Because it summarizes all of the most important aspects of an entrepreneur business. Therefore, putting the problem, mission and vision here makes a lot of sense. Because even if the rest of the business plan does not get red. Whoever does read the executive summary. Will understand where the business is going and how they’re going to help customers.

While often the executive summary is written with banks and financial institutions in mind says part time CFO. Thanks don’t care or needs to understand the problem, Mission or vision of a business. Therefore, many entrepreneurs don’t know why they should even bother putting it here.

The reason why the problem, mission and vision of the business belong in the executive summary says part time CFO. Is because it needs to remind the business owner themselves. What their goal is in their business. And since business owners should be reviewing their business plan on a regular basis.

If they get busy, and don’t read their business plan in full. And simply only read their executive summary. At least they are being reminded of their most powerful why they are doing what they are doing.

Creating a dynamic problem, mission and vision might be difficult. But if business owners break it down it could be much more simple than that. All customers are solving a problem when they make a purchase. The person buying groceries is solving the problem of needing food to eat when they purchase food from a grocery store.

A person who is calling a plumber, could be solving the problem of a flood in their basement. And while consumers buy products for all sorts of non-essential reasons as well. Like they might buy a Rolex watch, not to because they need a watch or they need to tell time. But because of Rolex is a status symbol. And they want to look important.

A business owner needs to understand what problem they are solving when consumers buy their product. And then write that quite simply in a single sentence. This is going to help them remember why they are in business. And what their main objectives are.

When business owners and their employees can remember this says part time CFO. All decisions in the business become much easier.

Part Time CFO | What Is the Problem, Mission and Vision of the Business

Understanding the problem, the mission and vision of the business is easy Says part time CFO. Even if coming up with the statements themselves is very difficult.

They are often very difficult to come up with, because they need to be very simple. It can be a lot easier for business owners to have a long-winded mission and vision. Because it’s easy to say something in several words. It’s much more difficult, to say the same thing in very few words.

The mission and vision of the business each needs to be a single sentence long. That’s helped the entrepreneur understand what they do, and where they are going. For example, the division is going to have a long-term and quantifiable goal. Something that cannot be achieved quickly. And something that has the ability to be measured.

When creating the vision statement. Entrepreneurs needs to ensure that it is absolutely achievable as well. If entrepreneurs have a vision that could not possibly get accomplished. It acts demotivational instead of motivational. Therefore, once an entrepreneur has created the statement. They should run it by there business advisors. In order to ensure that it is achieving the goal they desire.

The mission of the business is the driving force of what they are doing. Again, part time CFO says that it needs to be a single sentence long. And will be very easy for all levels of employees to hear, to read, and understand.

When an entrepreneur has come up with the powerful problem, mission and vision of their business. They need to understand that communicating it often to all employees is important. Just telling the months when they are first hired and never mentioning it again. Will ensure that employees are going to forget this is part time CFO.

They need to ensure that every employee not only understands it. But uses it as a guiding factor in all decisions they make while working for the entrepreneur. Part time CFO recommends that entrepreneurs Sears at the beginning of every shift. Put it in every room. And make it a part of the business culture. So that it doesn’t even have to be remembered, because it will be ingrained.

If an employee needs to make a decision, and the business owner isn’t there to help them. They need to be able to understand that if they are acting in accordance to do a problem, the mission and the vision of the business. They will not be able to be steered wrong.

They might make mistakes in their decision. But as long as they are accomplishing the problem, the mission and division of the business. They can learn what’s the perfect answer should have been. But there are at least being guided by the right principles.

When everyone can remember the problem, the mission and the vision of the business. They will be able to understand much more clearly, what the business is doing there. And how they can help achieve that goal.