I again met with my mentor today at the restaurant. Not only did she explain to me her vision, but she showed me how important it is to have a mission statement. She explained that the vision at the beginning of opening the business, should still be the same as the vision is to the extent that the restaurant is successful. On a different note, she made it clear that the mission statement should change throughout the process, as new goals should continiusely be being made. I learned that the determining factor as to whether or not they were successful during their mission statement is how much profit is made in a year. Kristen showed me several charts and spreadsheets that showed their predictions for how much inventory they are going to sell each month (forecasting) and the actual profit made each month. At last, I leaned that Kristen went by the accrimum of SMART as seen below in order to create and obtain her goals. It is evident that many businesses fail due to the fact that they do not sit down and write out a solid business plan.
Specific
Measurable
Attainable
Relevant
Time
goals
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