I visited the Concession Street Fest on the weekend, and the energy and friendly people in their kiosks selling their products delighted me. While I was there, I spoke to a few merchants about their business. One person I spoke to said to me, and I quote “I don’t need an accountant, I’m too small.” It concerns me that people think that an accountant is only for the rich and successful. All businesses, great and small, need an accountant to help them become the rich and successful. I learned that 50% of business owners lack the financial knowledge to operate a business successfully. This, to me, is the leading cause of business failure. I wish to focus this blog on the first step to a financially successful business, to have a solid direction.
So where is your business going?
Understanding the direction of your business helps guide you to good business decisions and allows you to measure your success against it. Without it, the business is aimlessly drudging on to nowhere. Take the time and write out your purpose for the business.
Start with defining your dream, a moment in time far in the future, where there are no limits and no timelines. Can you see what your business has become? Can you visualize its purpose? Good! This is your dream. What do you need to do to make that happen? This is your mission.
Write you mission, keep it simple and to the point. There are plenty of examples on the web that can help you do this, but they all miss the critical point important to each of us, and that is dreaming. They cannot dream for you. This is our baby, only we can do that.
You wrote your mission statement; now ask the question “What needs to be in place to make that happen?” These are your goals, your action items, your to-do list.
Keep it simple!