ChrissyBiz Solutions Headline Animator

Monday, January 31, 2011

Mission Statement Examples

Creating a stellar mission statement requires that you brainstorm what you hope to accomplish in your business and more specifically how. Include a mini strategy -- you describe some of your techniques to achieve this goal. For example, here is a sample mission statement for a fictitious Registered Nurse staffing firm: 


"RN BestStaffing, LLC will facilitate efficient and steady staffing services for all clients, worldwide,  through the use of technology, networking, and aggressive recruiting efforts. We strive to service our clients with the utmost integrity, providing them with the best qualified nurses available through green practices and mostly paperless technologies. We accomplish this through meticulous screening and investigation of every candidate."


This told you what they were doing and how they were doing it. Their mission is clear, to make sure they are the first stop for Registered Nurse staffing purposes. But they go on to tell you what their aspirations are and the ways they intend to handle their business. There is mention of integrity even though they describe their recruiting efforts as "aggressive." Follow this formula for your very own mission statement:

  • Make mention of your company name and company formation. 
  • Briefly describe what you are selling (product or service)
  • Include a statement about how you handle business (ethical practices, views for employees and shareholders, etc)
  • Describe what your goals are
  • How you will accomplish these goals

Your mission statement is only a statement but is packed full of who you are and what you stand for. The more aware we become of our role in the demise of our planet or its restoration, the more businesses will need to adapt these types of statements in their mission statements. Social Responsibility is nothing new, but the time has arrived when businesses can no longer hide behind the "we didn't know any better" excuse. [*side note*] If you have not considered this part of your business strategy and how it will not only increase your profits in many ways, but also save you money, do so now. 

If you are not sure what Corporate Responsibility/Social Responsibility is, let me explain. It is the inherent responsibility we have to or communities, constituents, and shareholders when we are in a position of authority. As CEO's and savvy business people, it should not escape you what this is. Deep down, every one know their responsibility to put their trash in the trashcan, and to treat others with respect. Social responsibility is no different, just on a larger scale. 

Make it your mission to remain accountable to those who put you in the place of authority you've attained, and they will keep you there. Next up is Vision Statement and their importance.


ChrissyBiz Solutions provides clients with customized, results-driven web marketing strategies. Our primary business writing duties include: article marketing,  search engine optimized web copy, blog content, social media, press releases, and newsletters  designed to drive traffic to your website and influence buyers decisions when purchasing products and services.

Contact ChrissyBiz today to discuss the impact that web marketing copy can have on your business.

Monday, January 17, 2011

How To Write A Compelling Executive Summary

The Executive Summary for your successful business plan will be written last but is actually the first (and sometimes only) part of the business plan read by investors. Placing the necessary information in a way that provokes investors to delve in deeper is the goal here. Highlight all the major points of your plan and back them up briefly, prompting the reader to flip to the relevant section to learn more. There may be some industry specific formatting you can research on Google, but regardless of the industry, pay close attention to the formatting, information, and length of your Executive Summary.

Here are a few essentials to remember when writing your Executive Summary:
  1. Write clearly - leave no room for confusion or need for interpretation
  2. Be concise - no need for details, just highlight selected portions in 2-3 sentences, no more
  3. Company Description and Mission should precede your other headings
  4. Use topic headings so reader can easily find information
  5. Other headings should be arranged in the most appealing way for your industry and audience but also logical so reader can find information in accordance with Table of Contents
Before moving on to the headings, it cannot be emphasized enough how your writing ability must really soar in this part of your plan. There may be some readers interested in every single page, but the strongest attention should be paid to this part as it either makes the reader read on or move to the next plan in the pile. Do not get carried away in trying to sell so much as having the facts well presented and logically arranged. Feed your reader the information they need to give you the funding you need!


Below is a list of headings and topics that should always be included in the Executive summary, along with the information to include. Each topic should be discussed in no more than three sentences.

Company Description - Cover all the details such as what the business is, how it will be set up, its legal status. The reader should have zero doubt about what your company is at this point. Be concise but complete.

Mission Statement - Your Mission Statement lets the reader know what need your organization aims to fulfill and how you plan to do it. What is the purpose behind your company, why have you formed this company?

Stage of Development - Are you an established firm or a startup? Where are you in the creation process of your product or service? Anything stated here will be backed up with data or proof in terms of sales.

Products & Services - What are you selling? If you sell a single service or family of products, list them here; but for larger operations a general description will suffice. 

Target Market(s) - Who are you planning to sell your product or service to? And what makes you choose them? Have you performed any market research or  conducted a market analysis? (Actual findings can be placed in Appendices)

Marketing & Sales Strategy - Based on your analysis and markets, how do you plan to reach them? What methods will you employ to drive sales? What mediums will you use to let your market know about your product or service?

Competitors & Market Distribution - Who are you going to be in competition with and what percentage of your market will be within their reach? How is the market divided up?

Competitive Advantages & Distinctions - You know who the competition is and how your market is divided. How will you address them? Do you have any patents or contracts that give your company an advantage? List any distinctions or major milestones here as well, briefly.
Management - Who are the capable and experienced individuals that you will trust to manage such a business? What are their qualifications? Focus on the company founders; try to instill confidence in the readers without being "fluffy" or exaggerative.

Operations - You will focus on the important operational procedures here, such as location, supply chains or any production techniques that are unique to your company.

Financials - Highlight the revenue and profit the company expects to receive for at least the first three years of operations, or up to 5 years. If you can pay your loan off quickly based on the financial model you used, express that here. Please be aware that for startups, the model used will give you different results; go with the model that is most appropriate, not most profitable.

Long Term Goals - Based on the information you have gathered, where do you hope your business to be in five years? How many employees? Locations? Expansion of services, sales, and other industry-specific information should be used to show what you are working towards.

Funds Sought & Exit Strategy - Explain the total amount of money you are looking for from all sources; how you plan to pay them back; and the amount of investors you are seeking. Be honest and clear! In the event of having to close the business, what strategy do you perceive to be the best and most profitable?

These headings are necessary and help you brainstorm additional information your investor will want to see before giving you the capital you need. As mentioned above, you must have already completed the Business Plan before preparing your Executive Summary. Your Executive Summary should be so complete that if sent as a stand-alone document separate from the business plan, it has all the information needed to help the investor decide to invest or not. Keep this in mind and you will not forget anything!

Wednesday, January 5, 2011

Help in Writing a Complete and Successful Business Plan

The explosion of small businesses in the past decade is characteristic of free market driven, democratic republic societies like the United States of America; but also a direct result of the internet. Privately held corporations and sole proprietors have endless earning potential if they can execute the right ideas and products such that they meet a need for their consumers. Writing a good business plan takes time, diligence, research, multiple edits, constructive critique, and of course a good business idea. And while many companies offer software or other general templates to complete a business plan fast, the care taken to compile your business plan will help you in running your business overall. Imagine your business plan as several plans compiled into one whole blueprint for how your business will be formed, financed, operated, grow, and ultimately dismantle (in case of failure). It will definitely help in identifying risks, weaknesses, vulnerabilities, and other hindrances to success. Knowing about these issues beforehand will undoubtedly guide you towards more effective decision making as well.


View your business plan as 'ironing out the kinks' before they cause a problem. 

Every business plan consists of: 
  • Executive Summary - What is the business? Describe your entire plan within a two pages or less
  • Marketing - How will you get people interested or spread the news about your business? How much does it cost? Who is your target market? What appeals to their needs? How do they go about solving their problems? How can you position yourself in a place to grow? What Marketing Mix should you employ for maximum ROI?
  • Operations - How will your business be ran when you are there, when you are not? Workflow, management, processes .. How many staff? Working hours?
  • Financials - Are you compliant with the Generally Accepted Accounting Principles of your industry? What is an Income sheet, P & L statement? How soon will you be able to pay back a small business loan? Which method best projects your earnings within the next year, two, or 5? How will you maintain your petty cash? Payroll, taxes, net income
More details are required, of course. Appendices might show marketing surveys used to pick the proper marketing mix, or other data relevant to your financial projections. Many more posts will go into greater detail for each component, beginning with the Executive Summary and why it must be written last or how to choose the best financial model to project first year sales or gross income.

Besides the fact that you must have a business plan to get funding for your business, what are some other benefits YOU receive from a complete and successful business plan? It is difficult to embark on such a time consuming task not knowing whether you will gain anything in the process (like funding), but here are some benefits you receive from a business plan:
  • Shows diligence and necessary preparation
  • Allows you to address potential problems beforehand (SWOT Analysis)
  • Gives you significant knowledge in how to actually run your business
  • Gets you acquainted with your target market and their needs; how do you meet them?
  • Exposes possible competitors and provokes you to brainstorm ways to overcome, grow, and focus on ways to make your business better
  • Details every facet of your business -- even things you never thought of
Your ability to attract customers, investors, and grow will begin with the business idea foremost. But execution is what has helped or hindered many business women and men, not the idea. Proper execution requires diligence and preparation, hence the need for the business plan. 

Do not become overwhelmed at the amount of information needed to make your business plan a success. You can contact a professional to compile it, of course, but YOU must be well versed in it to exude confidence when you present it. You must be able to answer hard questions about YOUR business. Faith that it will succeed alone is not enough. 

I will post up-to-date and relevant materials needed to write a complete and successful business plan! Topics such as your competition, an adequate and plausible exit strategy, human resources issues, and much more are coming soon!


ChrissyBiz Solutions provides clients with customized, results-driven web marketing strategies. Our primary business writing duties include: article marketing,  search engine optimized web copy, blog content, social media, press releases, and newsletters  designed to drive traffic to your website and influence buyers decisions when purchasing products and services.

Contact ChrissyBiz today to discuss the impact that web marketing copy can have on your business.

Monday, January 3, 2011

Measuring Improved Productivity

In the final step of the 7 ways to Improve Productivity, you must establish ways to measure your productivity. This will make it easy to see areas where improvement is needed.

There may be many ways you can measure your productivity, but I will limit this blog to two ways I have separated into qualitative and quantitative measurements. Both have their advantages, and depending on your industry, you should select whichever way suits your business and personal preference. However, I recommend implementing both measurements to get a more complete picture of your improvements.


Qualitative Measurement


You've spent weeks on improving your productivity by now, ideally yielding more time spent in your day on constructive tasks. Measuring how well these steps have worked qualitatively requires more subjective judgment than the latter. While the quality of your improvements is based on your views of what "increase" means in your line of work and the projects you've separated into smaller tasks, you should be able to immediately see improvement,  considering the following questions:
  • Are you a better time manager throughout your workday? More respectful of your working time?
  • Can you place projects into their respective time slots and transition from one task to another more easily? 
  • Are projects being completed sooner, since you began breaking them into smaller tasks?
  • Can you take on more work as opposed to before within the same time?
This is not to see how fast you work, but rather your ability to stay on task, block out distractions, stay committed to your new schedule and ultimately deliver quicker. Is this not the goal? 

Quantitative Measurement

Now consider actual numbers you can count, you can see in your schedule. Your 4 hour workday should see substantial gains in time spent working as well. From 4 hours to 6 hours, then finally on to 8 hours and beyond. You will become accustomed to the time working if you are satisfied with your production level. Times may be split between breaks but cumulative time spent working should be increased, numerically! Some questions to ask:
  • How many tasks can I complete in one time slot / one day / one week?
  • How long does it take me to complete project X,Y, or Z (is this faster than before)?
  • Is my weekly completion of tasks more than before?
  • Do I have time to spend on other tasks?
  • How much time do I actually work everyday?
  • How much "free" time do I have per day / per week?
Notice the way you view these questions; remember the goals you set and compare. Take this step seriously because only with measuring your productivity can you see if the process has been effective or not. Also, this final step will help you see how far you have come and further improvements you may have to make. Without measurement, you've wasted your time implementing the other steps and cannot actually tell whether or not you've actually wasted more time or increased the efficiency in which you spend it. 

Improving productivity will take time and increase will come in stages. As you become comfortable with completing tasks in a particular order or on certain days, you will begin to see why the old way was such an impediment to your productivity and use this knowledge to develop new ways to take on more projects. Success is in the details and execution of tasks. I sincerely hope this series has been beneficial and proved more than a good read but actual improvement in your workplace, whether you're a sole proprietor or a small workforce. Increase in your productivity will expose how actual time can turn into actual money!

Chrissy

LinkWithin

Related Posts Plugin for WordPress, Blogger...