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Part Time CFO | Who Needs to Know the Mission and Vision of the Business

 

If entrepreneurs do not create their vision statement and mission statement to be read by others say part time CFO. They are missing Of what these sentences can accomplish. And missing out on important opportunities to grow the culture of their business. And to harness the power of those sentences.

Many entrepreneurs spend time creating their mission statements and vision statements. Without really understanding why. Or what their impact can actually be. Therefore, they don’t emotionally connect with the statements. And they sit, forgotten in their business plan.

When they are properly written say part time CFO. And properly used, they become more than just lip service. They become a powerful phrase, that can help Inspire an entire workplace. And remind a business owner why they are highly motivated to accomplish their goals.

Therefore, the first thing that a business owner needs to do once they have completed them. Is it sends them to a trusted colleague, the business coach even family and friends? In order to see if they resonate. And if they are communicating what the business owner assumes they are.

It might take some tweaking. And it will take time before a business owner can end up with one sentence for each. That perfectly encapsulates what they are trying to say. But once they have it correct. A business owner needs to be using these two phrases to their best capacity.

One of the first things that business owners should be doing, is putting them into the executive summary of their business plan. Many entrepreneurs question this practice. Since many business owners rights their executive summary. Solely to appeal to financial institutions and thanks. When they are trying to obtain financing or loans.

And while that is one of the main audiences of the executive summary. Part time CFO says that business owners also need to keep in mind. That they, themselves are arguably the most important person to read the executive summary. And while a business plan should be a living document.

Where the business owner is going to make changes as they accomplish goals, update revenue, and other numbers. When they get too busy, and they can barely find time to accomplish everything. A business owner can instead read the executive summary of their business plan. Instead of the entire 40-page documents. And become inspired and motivated by the mission statement and vision statement contained within.

If the business owner was the only one to be reading their mission state send statements. Part time CFO says that it would also cease to be as effective as it should be. They should share this with their staff. And not just once when they get hired. Or once a year at an annual meeting.

But communicated regularly, every day so that it becomes second nature not just to the business owner. But second nature to all staff members. From high-level managers, down to part-time staff. When everyone connects with these phrases. And understand that that is how the business is going to function. It could be motivational for everybody. And help everyone work their hardest to achieve the goal.

Part Time CFO | Who Needs to Know the Mission and Vision of the Business

Not only do business owners needs to have a mission statement and a vision statement in their business says part time CFO. But they also need to ensure that it is simple. Ideally, one sentence each. That can encapsulate the importance of the mission of the business. And the vision of the business as well.

Many entrepreneurs try to write their mission and vision statements in a very sophisticated, and Flowery Manner. And that might sound good to them. But this needs to be read and understood by a wide variety of people. With leaving them no room for interpretation.

Therefore, the simplest language possible. And the simplest terms can help ensure entrepreneurs are achieving that goal. If they try and write it to sounds very overly important. It might be missing the point with some of the people that needed to hear it the most.

In order to come up with an effective mission statement and vision statement. Part time CFO recommends that entrepreneurs think of their customers first. And what problems they are trying to solve by buying their products and services. Many entrepreneurs may not consider that customers are solving a problem. But when they think about it, can see how true it is.

All customers are solving a problem when they are making a purchase says part time CFO. Some of them are obvious, like a person who calls the plumber because their Plumbing is broken. Or when people buy groceries at the grocery store, the problem is needing to feed their family’s hunger.

Therefore a business owner needs to consider the problem that their customers are solving by calling them. There might be several different reasons. And it might be very difficult to think about. But part time CFO says that once they figure out the one problem that most of their customers have. Or the problem that’s the would like to focus on.

It can become a lot simpler to create a mission statement. The mission statements need to explain in one sentence, how and why an entrepreneur is going to help those clients. It can be because no other business in the same industry offers the same type of product or type of service. Maybe they offer the best quality or the highest level of service. Whatever it is, it needs to be stated very simply in its mission statement.

Vision statements on the other hand differ in the fact that it’s going to contain a timeline and a goal that is measurable. Many entrepreneurs understand that if a goal is not measurable, specific, or has a time limit attached to it. it’s not an effective goal that can be accomplished.

Therefore, creating vision statements with a measurable and a timeline. It can help ensure that not only is the mission statement inspiring. But the vision statement is providing how they know they’ve accomplished it. Once they’ve done this, business owners can use it everywhere in their business and explain it to everyone to inspire them to work their hardest.