So, I’m curious.

How many of you have noticed all the changes on this page?

In the upper right, I now broadcast the fact that we’ve been named as the best tax accountants in the cities in which we operate.  (DC metro, Atlanta metro, Philly metro, and Phoenix metro.)

Further down that column (it was in the upper right for a short stint), I list a concise version my personal mission statement.  With a link to the longer version of my personal mission.

Now, here’s a fact. My firm- and I- base all our actions with our mission statements in mind.  In other words, we are coherent with our mission.

And, I’ve also complained (railed) just the other day? about the BS statements big companies make claiming they value their customers and their employees.  Because they don’t.   They are still following the terrible concepts espoused by Milton Friedman– that profits are all that counts (except most CEO’s only worry about CURRENT profits and not the long term viability of their firms.)

The mission statement is meant to explain the why and what of corporate existence- at least in an ideal world.  However, it’s not just what (the organization does)- but for whom they do it and maybe even how they do it.

Instead, these statements are often replete with platitudes, fail to link the employees or customers with the company, and/or are way too abstract or theoretical to be of any use.

But, it’s worse than that.

Some 2000 CEO were queried about their firm’s statement of purpose. This study by Drs. C. Michaelson (U St. Thomas Business College), D.A. Lepisto (Western Michigan University College of Business) and M.G. Pratt (Boston College) was published in Strategy+Business.  And, not surprisingly (at least to me) the “corporate statement of purpose”, the justification of a business’ right to exist, has no bearing on reality.  93% of the queried executives failed to explain why their company exists.  95% never included the core issue the organization plans to address or how or why it was started to solve that problem.

In other words, the corporate statement of purpose serves no purpose.

Which gives smaller companies better chances to survive and thrive against these behemoths.  By ensuring one knows the statement of purpose- and shares that with customers and employees.  Serving as a differentiation from all others.

So, let’s go over what we need in that statement of purpose.

A clear enunciation of the reason for being. The purpose is why, but make sure we link it to what, how, and who.  It needs to go way beyond financial performance, too.

Make sure we have clear and  definite links to the stakeholders- the beneficiaries of the organization’s work.  Our customers and employees.  Our local community.

Finally, keep the statement rooted in reality and avoid highfalutin phrases.

Because it will guide you through rebuilding process of our economy as the pandemic wanes.