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Writer's pictureJohn Williams

An excerpt from my new book I co-authored with Paul Horn

From Chapter 3, "Vision, Mission, and Values (on Purpose)"


You may not have had a purpose statement, and you may think it sounds much like a mission statement. Nonetheless, every organization and its employees need to know why it exists. This statement is different than your mission, which is outward-focused toward your customers and the public. An example of an ESOP company’s purpose statement could be  “We provide meaningful work and financial freedom for our employee-owners.”

You might say this statement sounds generic and does not really differentiate your company. Not so. First, aside from a small group of companies using other ownership plans, only the 6,500-plus ESOP companies in America have employee-owners and this special purpose. Second, the statement serves as an overall guide for your work environment and goals. Third, you ultimately choose the exact words to describe your purpose. In the above example, using the term “financial freedom” means an emphasis on providing benefits beyond the ESOP along with financial education.

The purpose statement is simple and should rarely change. This means that if you manufacture jet engines and you then also start making bubble gum, your reason for existence doesn’t change if it doesn’t change why the organization exists.

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