HAVE YOU CLEARLY DEFINED YOUR BUSINESS?
A plan is only as good as its execution, plain and simple!
I’m sure you’d agree. But…
What are we executing?
What are we executing?
What are my responsibilities?
And what is the end goal?
Some very common questions among managers and staff alike when it comes to running a business day to day.
Before we can start “executing” we need to have a plan. As in my previous post (Fiscal responsibility) this can be from the basis of necessity or from aspiration.
All companies were started with a purpose and end goal in mind. For some companies this is strictly financial, the greater good, or a combination thereof. Regardless of its type of purpose,
A companies strength in defining & communicating this “purpose” is what brings the company alive. The execution of the goals is what will keep it going.
So how do we define a plan or strategy?
Consider the following:
A Vision statement, which expresses an organization’s optimal goal and reason for existence.
A Mission statement provides an overview of the organization’s plans to realize that vision by identifying the service areas, target audience, and values and goals of the organization.
These are the building blocks on which the company will create their stepping stones to success. Once a Vision and mission are defined a company can start working on their action plan, but NOT sooner.
Here is a great example:
Tesla – “to accelerate the advent of sustainable transport by bringing compelling mass market electric cars to market as soon as possible. “https://www.teslamotors.com/en_CA/blog/mission-tesla
In the case of Tesla, the statements have been amalgamated, which isn’t uncommon. Check out some of the other big names as well as they are more detailed:
Once you have defined your Vision & Mission statement its time to share it with the world. But not before you have shared it with your team!
I recommend that you work on your vision & mission with your team because what’s in our minds as CEO may not always be clear to others. Receiving their comments and input will ensure that the the message is clear, accurate and understood.
This will have a positive side effect, your team will feel like they were a part of the process and will likely be more committed to seeing it succeed.
Have you clearly defined your business purpose?
Ask one of your team members to write it down and use it as your score card!
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To develop business strategies for growth & sustainability,
Through leveraging resources and easing commitments.
Peter Teunissen, CPA (ca)
Founder & CEO
– Leverage Consulting Group –