Defining Your Family Office’s Purpose Through a Strong Mission Statement

In a family office's narrative, the mission statement acts as the storyline connecting your rich history and core values with the impact you seek to provide to the world. It’s more than a declaration; it’s a purposeful guide that shapes your interactions, philanthropic endeavors, and investment decisions.?

This week, we explore how to craft a mission statement that resonates with your family’s ambitions, ensuring your actions contribute meaningfully to your legacy and the broader community.

Upcoming Events!

We have some exciting events coming up! Don’t miss them on our new FOA Members page! Become a member and join us for our exciting events, and gain access to valuable resources and tools!?

Check Out Our Events! →

Steps to Crafting Your Mission Statement

Creating a mission statement that genuinely reflects your family office’s purpose requires introspection, collaboration, and strategic thinking.?

1. Reflect on Your Impact: Consider the areas where your family office can make the most significant impact. Reflect on the issues you are passionate about and how you can contribute to their resolution or improvement.
2. Engage Stakeholders: Involve family members, key employees, and advisors in the process. Diverse perspectives can enrich the discussion and ensure the mission statement reflects a collective ambition.
3. Link to Core Values and Vision: Ensure your mission statement aligns with your core values and draws a clear line to your vision. This alignment guarantees consistency in your brand identity and actions.
4. Focus on Clarity and Brevity: A powerful mission statement is clear, concise, and memorable. It should quickly communicate your purpose to anyone who reads it.
5. Iterate and Validate: Draft your mission statement, then refine it with feedback from stakeholders. It may require several revisions to accurately capture your purpose.

Living Your Mission Statement

A mission statement is only as powerful as its implementation. Here are some strategies to embed your mission into the fabric of your family office.

• Incorporate Into Daily Operations: Your mission statement should influence day-to-day decisions, from investment strategies to philanthropic activities.
• Educate and Inspire: Ensure every family member and employee understands the mission statement and is inspired to contribute to its realization.
• Measure Impact: Establish metrics to gauge how well your activities align with your mission. Regular reviews can help adjust strategies to stay on track.
• Communicate Internally and Externally: Use your mission statement in all communications. It should be prominently featured in your office, on your website, and in any public statements.
• Review and Revise as Needed: As your family office evolves, revisit your mission statement to ensure it remains relevant and reflects your current objectives and values.

Crafting and living a meaningful mission statement can transform how your family office operates, turning your wealth into a tool for meaningful impact. It solidifies your place in the world, not just by the wealth you accumulate but by the legacy of positive change you leave behind. As we move forward in our series, keep in mind that your mission is the heart of your brand, driving every decision and action toward a future that aligns with your family’s deepest values and aspirations.

Speaker Highlight – Joelle Jarvis

This week, let’s give a special look to Joelle Jarvis! Joelle is the founder of Mindset Partnership, an organization that creates programs specifically for exceptional leaders responsible for many aspects of investments and family office duties. She is also the Co-Founder of the 100 Billion Meals Challenge under the visionary leadership of Tony Robbins, which has already facilitated resources for more than 60 billion meals across the world. For over 30 years, Joelle has been a high-level strategist and coach, working with partners at some of the world’s top venture capital and private equity firms, founders and other top-tier executives, and family office executives and entrepreneurs. Joelle continues to spread her insight, innovations, and perspective to help support and build those around her.

Attend Our Events as an FOA Member!?

View Our Events! →