In this section, we’ll discuss God’s purposes for your business and why you, as a Christian business owner, should start with the end in mind.
God’s Purposes for Business
God never does anything haphazardly. Everything He does has purpose, meaning, direction, forethought, planning and emotion. Our God is not a God of disorder, but of order and purpose. Understanding God’s purposes for your business is absolutely visceral to your decisions. These purpose create boundaries for your decisions – violate them to your pearl.
The four purposes are:
Start with the End in Mind: Succession Planning
But fulfilling His purposes are one thing – planning the start of your business with the end in mind is another. Every business owner leaves his business and there are only three ways to leave: die, sell or liquidate. Obviously, for the Christian Business Owner who is a steward of that which God has entrusted to Him, selling captures the greatest value in the business that can then be used for the Kingdom of God. I suppose a very large life insurance contract could be purchased to help fund God’s work when the business owner dies and this is certainly not a bad idea, but if the owner wishes to steward the value that God has allowed him to create during his time on this earth, then selling is the preferred method of transforming the non-cash value of the business into cash and subsequently, into gifts and “fuel” for God’s work on this earth.
Knowing how you plan to sell – to a strategic buyer or a private equity firm or your son or daughter – makes all the difference in the world in how you plan to have your business outlast you. Succession planning is often an after-thought for most business owners, but it shouldn’t be if we are steward well that which God gives us. Our jobs, as stewards, is to create as much value as possible for the Kingdom of God. Good succession planning will maximize this aspect of our stewardship.
Let’s look at each of these parts.