Mission Statements for Families of Wealth: Identify the Values and Reap the Reward

At its core, a mission statement serves as a compass, continually steering an organization or business toward their goals. For the families who undertake the process of creating a mission statement, it provides a similar and essential navigational tool. To be successful, however, the mission statement must resonate and mean something to everyone in the family. It should ideally look inward to identify each family member’s personal values. Through the example of two case studies, families who participated in creating a mission statement reaped the rewards of working together and learning more about their shared values that guided them forward.