Some smaller family companies reject the idea of a “mission statement” as too “high-brow” for them.  “We build homes”, said one business owner.  “What kind of mission can you make out of that?”

A mission statement not only describes what the business does, it also describes how it does business and for what purpose.  A mission statement reminds everyone how it does business and for what purpose.  A mission statement reminds everyone why the family is in this business, what its standard of quality is, and what goals it hopes to achieve.  If the company slips off track at some point, reference to mission statement can help bring it back.

A good strategic plan also keeps the company and the family focused on the business’ concrete goals for performance growth and financial success, and the choices and actions necessary to achieve them.  Carrying out the plan requires everyone in the company to stick with the program and keep up the pace.  If targets aren’t being met, the plan makes it easier to locate the slowdown points.

This is one way you can protect your business and run it like a business.

A Business Consultant can help you recognize and address the many challenges, problems and issues that trouble you concerning running your business and provide options to help you resolve issues.

Consult an Attorney to help with legal advice and a CPA for tax advice.  Their fees are well worth the investment.

C Bruce Matthews, CTEP, CWM
TruOptions Business Consultants, LLC

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