Part Time CFO | What is the Problem the Business is Solving
Business owners need to create a very simple but powerful problem, mission and vision statement in their business according to part time CFO. The reason why, is because these statements can help a business owner understand the direction that they are taking their business in. So that’s even if they forgets their objective, the Mission, Vision and problem of the business are very easily understood.
However, many business owners don’t understand what’s the problem statement is for their business. And why they need to have one. Therefore, business owners should understand that every customer that makes a purchase, no matter what that purchase is. Is solving a problem that they might have.
It’s easy to understand that if a business owner has a leak in a pipe in the basement, that’s the problem that they are solving by calling a plumber. A customer might be solving the issue of hunger, either there’s or their families. When they purchase groceries from the local grocery store.
It gets a little bit more complex, with certain products and services. Such as someone who hires a cleaning company. May not have time to clean their house, May not wants to clean their house. Or they might have disabilities that make it so that they cannot clean their house.
Business owners need to consider not only what the most common problem that their customers are solving by purchasing their product or service. But they also need to figure out which problem they are servicing the best. And should, therefore, focus on.
Well this is going to be outlined very clearly in their business plan as well as their marketing plans this part time CFO. Coming up with a single phrase about it. Can be an important reminder. And an important way that business owners build the culture of their company. In such a way that everybody knows exactly what the goal of the business is.
When everyone including all levels of employees know what the goal of the business is. It can make in a lot more personal and impactful how they accomplished their tasks. It might allow them to take more pride in there work. Or help them complete it much more carefully and accurately.
If customers are ever putting an employee in a position where they don’t immediately know the correct answer. And they can’t ask the business owner. If they can be governed by the statement. As long as they are helping the customer solve the problem. Even if I might not be the correct or best answer. The answer that helps the customer is a great place for employees to start problem-solving.
Business owners also needs to complete a mission and vision statement says part time CFO. The mission statement is about how they are going to do it. Whether it’s to a certain degree of service. Whether it’s by something that no other business in that industry is offering. Maybe it’s doing it to a higher degree than anyone else.
The division is often the most difficult to come up with this part time CFO. Because it is essentially the mission, but put into quantifiable and measurable terms. They needs to say when they’re going to achieve their goals, and how they are going to know they’ve achieved them. By having measurable results.
Part Time CFO | What is the Problem the Business is Solving
If business owners don’t know what the problem they are solving in their business says part time CFO. They might not be able to accomplish their tasks as easily. Or they might get confused on what product or service they truly are offering.
By keeping in mind that they are solving problems for their clients, can help ensure that business owners as well as their employees are always acting in accordance with that goal.
Business owners needs to realize that once they have come up with an effective problem statement as well as a vision and mission statement. They need to ensure that they are sharing this with their staff.
Part the And They daily if not more. Therefore, business owners and business owners alone are the only ones responsible for communicating this with all levels of staff and management. Because of this, a business owner might want to get into the habit of starting each day by communicating this with the staff. Or at least the beginning of each shift. They might want to include it and all of their interoffice Communications. And they might even want to write it down and put it in every room where everybody can see it.
This is going to be an extremely important way that a business owner builds the culture that they wants to see in their business. By ensuring that everybody is on the same page. I’m making sure that all staff no matter what role they have, will know where that everything that they do will be towards achieving that result. It can be a very powerful motivator. But staff needs to hear it regularly and often for it to be impactful.
However, who is going to tell this to the entrepreneur themselves says part-time CFO. So that it becomes ingrained in their head as well? This is why business owners should be putting it in their executive summary of their business plan.
While a business plan should be a living document. That an entrepreneur reads and updates regularly. If they are incredibly busy. A business owner may only have the time to read the executive summary. And if that’s the case. Putting their mission, vision and problem statements into this part of their business plan. Can ensure that they are reading it themselves and further reinforcing that for them.
The more a business owner can use these statements to guide everything that they do. The more they’re going to be able to ensure that they are accomplishing the goals of the business. So that they can increase their revenue and grow their business to be successful.
Part time CFO says that business owners should work to create their problem statement, their mission and vision statements before they even open the doors to their business. And then it to communicate it often not just with their staff. But to themselves.
So that they can always be reminded of why they wanted to start a business. And what they are accomplishing. And how it’s different than anyone else on the market. Which is why they need to continue on their path.