The importance of Developing a Family Business Mission Statement

Family Mission statement is a combined, unified expression from all Family Members of what the family is all about, what it is that they really want to do and be, and the principles they choose to govern their family life.

This statement will highlight the Family Values. Therefore, a Family Mission statement is instrumental for ensuring and sustaining family harmony and unity.

It is very important to develop a Family Mission statement early as it the primary step before building a Family Business. The values stated in statement will form the basis for decision making and conflict resolution.

Mentioned herewith are some sample mission statements:

  • “Family members will inevitably have needs and turn to the business to fill them. For that reason, we, as a family, have all agreed to help one another, when one is in need, from our personal resources not from the business’ assets. All Family Members are welcome in the business.”
  • “We are good, honest people who care. We value and respect all people. We serve others with friendliness and sincerity. Our business dealings are of the highest integrity.”

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