We have one daughter, Jennifer and her husband, Chad, who have blessed us with four grandchildren. They have all enjoyed spending time at the ranch even before the inheritance. Since the inheritance, they have become more involved with the projects and enjoying the benefits of their labors.
Dave Ramsey has taught us that as parents it is important to raise our children with love to be self-sufficient, understand financial responsibility and to leave them an inheritance as taught in the Bible . My husband, Larry’s purpose for the ranch was clearly following this principle and I know Jennifer and Chad will someday be the owners of the property and will continue the improvements. I reflected on how Larry’s purpose can easily be the same for entrepreneurs.
I think as Christian businesspeople we fundamentally want to build a business and eventually leave that business a success. But in business when you talk about the business purpose statement, you must be careful. First, a business purpose can be the legal statement required by some states on your business registration documents. This statement is generally vague like “to lawfully sell safe products to the public”.
Second, in marketing your business, you tie your brand to your purpose for selling your products or services and this purpose statement drives your marketing efforts.
Finally, for decades business schools have taught the need for all businesses to have Values, Vision, and Mission statements to guide the business. A purpose statement is new to the scene and is slowing being adopted. So, for our intentions here, a purpose statement is that declaration that identifies your business’ overarching reason for existing. It is the WHY you are in business.
Can you answer the WHY question for your business?