What you need for your business-And The Difference

There are so many parts to building a strong foundation for your business. But learning all the business lingo can be overwhelming. In today’s blog I will walk you through some of the key phrases you need to hone in on when building and scaling your business.

Mission Statement- A mission statement is a short statement of why an organization exists and the overall goals. The three components of a mission statement include the purpose, values, and goals of the company. Your mission statement should reflect what you’re passionate about with your business.

Vision Statement- is a powerful statement made by an organization that articulates what they would like to achieve and the vision for the brand. A well-written vision statement will be clear, short, simple, specific to your business. A good way to identify the vision statement for your brand is to think of your goals 10 years from now and think about what you desire to achieve there.

Framework- a guide to a company's policies, goals, standards, procedures and training. Frameworks essentially help structure business thinking and lead businesses as they grow and accomplish their missions.

A business model is simply the way in which you operate your business. It describes the rationale of how you as a business creates, delivers, and captures value. A business model is a framework to identify the long-term value for an organization while simultaneously delivering value to customers and capturing value through profitability.

Pillars-Business pillars are the main areas of focus that a business believes maximizes its chances for success. Brand pillars are the points that set your company apart from competitors. Pillars show why and how you do things differently.

For my business my pillars are sustainability.impact and profitability. While many businesses focus on quick wins my unique selling point (What makes your business unique and stand out from your competitors) is that I am teaching you to build a business that is long lasting and sustainable.

In order to build your business pillars I suggest thinking of the BIG picture goal you have for your clients and then the steps that get them there! You could also use the blueprint that you personally walked through or helped a client walk through. For example: When I was building out my coaching business my journey was to get to a profitable business. I did this by first aligning my mind to believe it was available. I then focused on creating attractive offers and attracting clients to me. Finally I moved into calling in the sales. So in turn, my pillars became alignment, attraction and abundance.

1- Choose Your Pillars- Make a list of the core areas your business needs to create the transformation you desire for your clients.

2-Create Your Pillars- Once you have your pillars chosen, identify why each pillar is foundational to your business.
3- Communicate Your Pillars- When you're sharing things related to your business be sure to discuss how this aligns with your pillars. This will help people to see why you stand out and also help to really solidify what you're known for.

Elevators and taglines are a great way to communicate who you are and what you do. Let me explain both…

An Elevator Pitch-Many say the term elevator pitch is outdated but essentially an elevator pitch is a 20-30 second layout of what you do. You're basically able to explain it in the time period that you will be in an elevator with someone.

A tagline is a catch phrase that conceptualizes what it is that your brand does. It is usually one line. For example Nike is "Just Do It", Chase is"Chase what matters" and Kay Jewelers is "Every Kiss Begins With Kay". Your tagline should explain your brand's identity, purpose and values in a way that is easy to remember for your audience.

Mine is " I am a transformational coach that teaches women to build an impactful, sustainable and profitable coaching business from their passion.

As you contemplate your business goals and model take some time to consider your foundation and the importance of it. Your future self will thank you for it.