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Hello, I am Zach Saint James,

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financial advisor with
Katterhenry Investment Group of Nest Capital,

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and I wanted to take some time
to talk about Family Mission statements.

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While we don't often think of our family
unit as a business, there is overlap

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of the day in and day out motions
of how businesses and families are ran.

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Let's talk about the idea
of creating a family mission statement.

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Often, when familial and generational
wealth start accumulating,

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some family members can become left
in the dust unintentionally,

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especially if this wealth
was unknown to them for some time,

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or happens
suddenly when families come together

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to craft a mission statement
very similar to business.

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We start to see members
while living independently,

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working together
for the good of the family unit.

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This will create a shared
sense of purpose.

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Open up dialog for members
to speak freely.

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Create space for the rising generation
to get involved and incorporate

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each family member's unique
thoughts, talents and contributions.

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Your family mission
statement does not need to be an essay.

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It can be whatever suits the family,
but it should answer these four questions.

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Who is your family?

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What does your family stand for?

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What is your family want to do?

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How will your family accomplish
your goals?

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This is an example of a family mission
statement.

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Introduction.

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Our family has made a conscious decision
to remain connected.

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We believe that remaining together
enables us to actively

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and purposely support individual members
in realizing and pursuing their callings,

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and support members and developing
their gifts for the benefit of society.

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So where do you go from here?

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A family mission statement is not composed
by one single member.

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Get everyone involved to start outlining
what is most important

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to each individual
that contributes to the family unit.

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Start answering questions such as

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what are our core values as a family?

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Why do we want to stay together?

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What family traditions do
we want to preserve,

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and what impact do we as a family
want to have on the world?

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How much do we want to be connected?

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Versus being independent?

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Answering these questions,

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we'll start creating the outline
of your mission statement.

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If those questions seem too
daunting at the beginning.

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Start simply by asking
what matters most to me and why.

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One last thing to note

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is that when creating these statements,
brevity is your friend.

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Just like with a business,
if it's too long, it is hard to remember.

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Hard to track and hard to execute.

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Keeping the mission
statement short and sweet will be your key

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to successfully living out the family's
common purpose.

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I hope this has given you food for
thought as you begin exploring

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what your family is all about.

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Have fun with creating these open
conversations with your family,

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and remember that it is never too late
to start creating a common goal

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and purpose for your family's wealth.