Now, back to those Christmas catalogues from L.L. Bean and Patagonia. Both show how patient, long-term ownership and excellent management, products, and services can build generational wealth over decades of brand-building and customer loyalty. In both cases, the owners who resist the quick sale and instead focus on purpose-driven growth and lasting customer relationships can build legacy companies that dwarf what any early buyer would have paid.

(This is the third in our series on goals.) The Cathedral, Stone Blocks, and Your Goals Christopher Wren was one of the greatest English...