The last several weeks we spent some time exploring some foundational components of your family business management system and developing some clarity around the future of your family farm. Specifically, we explored the What, Why and How of your business by defining the purpose of your family business, a vision statement, a mission statement and a statement of core values or philosophy of operations statement.
Statement of Core Values or
The final component of developing the foundations of the management system for your family business surrounds the beliefs and behaviors that you intend to follow or keep sacred in managing your family farm business. Specifically, a Statement of Core Values or Philosophy of Operations Statement.
In order for your family business to ascend towards its vision, core values must be clearly identified and communicated. A well-developed Statement of Core Values will make it clear to the reader and your team whether your future plans for growth are reserved and conservative or aggressive, whether your priorities are based on the “here and now” or whether you value “the long term”. Your Statement of Core Values also answers the question or how members of your family business should behave toward one another and your customers and vendors.
Your mission, if you choose to accept...
There are two remaining areas to explore and to help you develop the foundation to a long lasting family business and your management system: Mission Statement and Core Values. Let's explore mission statements a little further.
It is essential to understand how you are going to realize your family business purpose and attain your vision. This is the function of your Mission Statement. Many times, mission statements and vision statements are used interchangeably. These are two distinct statements that serve two different requirements for your family farm. The mission statement clarifies and explains what the members of the organization will actually do to achieve the purpose and vision.
Carrying out the mission statement on a consistent basis helps your business achieve the purpose and pursue its vision. I know it might be a little confusing, but your purpose, vision statement and mission statements all build upon each another and point everyone in the same direction. There is a great amount of synergy that results by giving your team a clear sense about the principal role that they play.
"Outstanding people have one thing in common: An absolute sense of mission."
From a nuts and bolts standpoint, your mission statement is a clear and concise declaration about your business strategy that describes:
(a) the key products or services to be provided (the what),
(b) the target market or primary customer (the who),
(c) the primary business objective to be accomplished (the how) and,
(d) what value your are bringing.
Additionally, and possibly most importantly, your mission statement ought to be the daily driver of action for your team and as such, it provides a “check and balance” for every goal, strategy and action plan that is undertaken. If a business activity or decision conflicts with the mission statement, either the activity or decision is misguided or the mission statement is incorrect.
"If you have a family mission statement that clarifies what your purpose is, then you use that as the criterion by which you make the decisions."
“At Chateau de Pahrump we grow grapes, make super-premium class wine and provide Northern Michigan hospitality with exemplary service from our one-of-a-kind site on Michigan’s Leelanau Peninsula. As good stewards of resources, our goal is to operate a profitable and ethical business that utilizes new technology and provides enjoyable work conditions with opportunities for advancement and personal growth. “
“Our mission is to transform natural resources into high quality livestock for domestic and foreign customers in a way that will provide a fair rate of return to our owners, a safe and satisfying working environment and be capable of providing income for future generations.”
“Our mission is to help connect people who want to sell a business with people who want to buy a business. We provide business owners and brokers with flexible options for listing their business online. For buyers, we offer helpful tools such as our saved listings feature and customized email alerts to make finding the right business easier.”
After you have developed your family farm’s mission statement, you will be ready for the final part of the foundational elements for your family business, core values.
Long Term Planning
North Coast Ag
Standard Operating Procedures
Thought Of The Day
Winery Benchmark Programs