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5 Essential Business Principles from the Bible

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5 Essential Business Principles From The BibleThe Bible is full of advice on how to handle money. Every business owner can (and should) build their business on these essential principles straight from the Word of God. As you read through these Bible verses and associated principles, ask yourself where you see room for improvement in your own business dealings.

1. Conduct your business with humility.

Be realistic about your human nature. Everyone makes mistakes, and I’d venture to guess you’ve made a few. Humility causes us to listen to our customers, to hear their concerns, and to address their problems. Having a large ego won’t get you anywhere and can cause your business to stumble.

Pride goes before destruction, a haughty spirit before a fall. – Proverbs 16:18 NIV

Does someone not like your product? Give them a refund. Show your customers that you want to make sure they’re getting value for their dollars. In several of my eBooks, I suggest that if the buyer dislikes the book that they send me an email requesting a refund. I want my work to be worth the cost. Don’t you?

2. Be diligent and avoid laziness.

If your job is draining you of your energy, and you can’t seem to work as you should, it might be time to change jobs. Find work that you can be passionate about. But in whatever you’re doing, be diligent. Laziness won’t bring in the money – customers pay for results.

Lazy hands make for poverty, but diligent hands bring wealth. – Proverbs 10:4 NIV

Some practical ways to boost your energy include getting adequate rest to avoid exhaustion, exercising regularly, and eating foods as close to their natural, God-intended state as possible.

3. Be fair and don’t cheat in your business dealings.

Do not have two differing weights in your bag—one heavy, one light. – Deuteronomy 25:13 NIV

Standardized weights and measures were used in Biblical times to conduct business transactions. The Bible here is speaking out against cheating others in business dealings. Both parties – the buyer and the seller – should “be on the same page” regarding a transaction, each understanding exactly what they are to receive as a result of the deal. Selling a product or service? Thoroughly describe what it is that you’re selling. It’s also a good idea to “test” your description by having potential customers ask questions about the product or service before selling it to them. The less questions they have, the better job you’ve done at describing what it is you’re selling.

4. Gather little by little.

Television likes to tell the stories of people who encounter windfalls of cash: business ventures that are overnight successes, lottery tickets that bring in millions, and attic-retrieved antiques worth a decade’s worth of wages. These sudden windfalls probably won’t happen to you – the odds are very much against you. Instead, the Bible teaches to gather money little by little.

Dishonest money dwindles away, but whoever gathers money little by little makes it grow. – Proverbs 13:11 NIV

There are honest circumstances under which one might earn a windfall, but the Bible tells us that our focus should be on earning money little by little.

5. Don’t be timid.

Be humble and bold at the same time. The Holy Spirit can give you power to run your business and self-discipline to manage your time.

For the Spirit God gave us does not make us timid, but gives us power, love and self-discipline. – 2nd Timothy 1:7 NIV

What is it that you’d love to do? In what areas of your business do you need more boldness? If you’re looking to improve your business and your life, make sure you stay rooted in the Word of God. The Bible has much more to say to those looking for help. Take these verses to heart, and seek the Lord. And if you only remember one piece of advice from this article, remember this:

So in everything, do to others what you would have them do to you, for this sums up the Law and the Prophets. – Matthew 7:12 NIV

What are some other Biblical business principles that you think should be practiced?

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Bob is the founder of Christian Personal Finance, a website helping people make more, save more, and give more away.

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Live Your Mission by Starting Your Own Business

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Identifying your mission in life can be a tough task in and of itself. But finding a way to achieve it can be even more challenging. Ideally, you should be able to combine your mission with your career so that you can draw an income while doing something fulfilling.

However, in today’s job market, changing careers might not be feasible. The only remaining solution is to start your own business. While this notion is often met with trepidation or fear, it’s not as difficult as you might think. In reality, you can start your own business, achieve your life’s mission, and stay financially afloat at the same time. All it takes is some common sense, planning, and a strong work ethic.

Here are some tips to get started:

1. Identify Your Mission by Gauging Your Passions in Life
Take an introspective look at yourself – look for your strengths and abilities and partner them with what you’re passionate about. If you are struggling, ask family and friends for ideas. They may offer insights, tips, and advice that you never considered.

2. Convert Your Mission to Income Generation
Once you’ve identified your mission, the next step is to turn it into a money-making venture. Research what other people are doing with similar ideas – and don’t try to reinvent the wheel. Whatever you do, develop a plan and follow it. Undoubtedly, as you go along, you’ll learn more and determine how to hone your plan to better accomplish your goals.

3. Focus on Customer Service
There are plenty of places you can go to get great food, but how many of them deliver it with exceptional customer service? The best way to set yourself apart from the competition is to focus on customer service. The cost-to-reward ratio often works out heavily in your favor. Whether your venture is product- or service-based, run your business in a fast, courteous, and friendly fashion, and you’ll be sure to build a solid client base that will serve you for years to come.

4. Effectively Market Your Business
You can have the best business idea in the world, but if no one knows you exist, your efforts will be in vain. Therefore, you need to effectively market your business.

Start by creating a website, so your customers have somewhere to go for more information. Then, create a page for your business on popular social media websites, including Twitter, Facebook, and LinkedIn. Creating an account is typically free, and these sites can be huge in generating new customers.

Be sure to manage all your social media accounts, and be as interactive as possible with your followers. The more promptly you respond to comments and questions, the more likely your business is to grow.

5. Save Money
If you’re a first-time entrepreneur, saving money by cutting small business expenses should be at the top of your list. Buy used items whenever you can, including computer equipment and office furniture. You can barter your talents with other professionals to get services you need for less. Also, avoid expensive marketing campaigns when you are starting out, and meet with professionals in your industry for other ways to save. Check out the website Meetup.com for networking opportunities in your area.

6. Expand Judiciously
Never overextend yourself financially when first setting out, as this may quickly lead to failure. Instead, build modest revenue streams, reinvest them in your business, and expand cautiously as you see fit. You’ll find that this business model will serve you much better than one of expanding too rapidly.

Final Thoughts
Some people feel guilty about receiving money while building or living their dream. But as long as you are ethical in your efforts, there is nothing wrong with profiting from hard work. As 2 Corinthians 9:6 says, “Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously.” This is true in business and in life. As long as you approach the idea of small business ownership with good planning and save everywhere you can, you can fulfill your mission in life, be financially successful, and help others along the way.

What other tips can you suggest for finding your mission in life?

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David Bakke runs an online reselling business and blogs about personal finance on Money Crashers. He lives in Atlanta with his young son and enjoys keeping up to date on the best ways to save money and improve his life.

Create Something Awesome and Sell It

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I used to carry a heavy burden of debt.

I pined away at an 8-5, M-F job I hated so I could pay for a bunch of crap I thought I wanted. I was an unhappy wage slave.

That was a few years ago.

Now I’m financially light on my feet. I wake up every day and aspire to create something awesome, in lieu of trading my time for money.

What about you? Are you where you want to be, or at least heading in that direction?

Answer these questions:

  1. Do you earn a living trading time for money (a.k.a. salaried worker)?
  2. Have you ever created something to sell (a product, service, etc.)?

Keep your answers in mind as we explore the intention of spending time creating something awesome, and selling it.

When I say awesome, I mean creating something that’s useful and meaningful, that embodies your passion. Something you could sell without even trying. Something you know other passionate, like-minded people will love.

If you’re looking for a step-by-step guide to quitting your job and making money fast, stop reading now, close this browser tab, and keep surfing.

I’m writing this to inspire you to action! In this relationship I’m the cowboy with spurred boots, and you’re the horse.

Now let’s go for a ride.

Note: if you love your job, this post isn’t for you.

Trading time for money

The average Joe/Jane will never earn money from a creative endeavor, which is fine unless they’ve always wanted to but never have.

If you want to stop trading time for money, and transition into selling your own creations, I’m here to tell you it’s not only possible, it’s doable . . . I have done it.

Before proceeding I want to touch on several philosophical reasons we fall victim to the “time for money” trap.

If you’re unsure how you turned into an unhappy, salary worker, let me assure you, you didn’t get here by accident. If you were publicly educated, the first 20+ years of your life were spent in something I refer to as “wage slave training.” You were trained to work for other people – people who create something to sell.

You were NOT taught to solve problems and think with independence.

While we can’t place full blame on our grade school and college undergrad curriculums, it’s important to recognize the effects of our training. Most people in the wage slave role wonder how they got there, and why the heck they hate it so much.

I know because I was one of them, for a long time.

Right about the time Obama was promising hope and change, I was breaking ground on my transition from wage slave to entrepreneur. I wanted to move toward creative, meaningful work ASAP, but I wasn’t sure what it would be or how I would get there.

When I was just about to lose it, I took a “mental health” day to drive to my Dad’s and ask him how in the world he spent 35 years working a job he hated. This is what he said:

“When I was about your age I reached the point you’re at now, and a decision had to made. I could either quit my job to pursue meaningful, fulfilling work, or stay where I was and focus on finding fulfillment in my personal life, and use the job to support it.“

He retired from that job, and it supports his personal life to this day.

But it was then that I KNEW it had to be different for me, I had to make the opposite decision.

God bless my mother for her steadfast support through this transition too. I Love her!

Create awesome stuff and sell it

It was January 1st, 2009 when I started DebtFreeAdventure.com. The interest on my debt alone was costing me over $1,300/month (yeah, you read that right).

I had tens of thousands of dollars in student loans, a 30 year fixed 1st mortgage, a 2nd mortgage, around $7k in auto loan debt, and another $6k in credit card debt.

I was working a job that drove me frickin nuts – but – I was creating my own plan for hope and change.

I started DFA for 3 reasons:

  1. To help me get, and stay, out of debt.
  2. To help others do the same.
  3. To earn money by creating something awesome.

Along the way I developed passions for simple living, doing things myself, and reducing my intake of harmful chemicals – and started diyNatural.com to nurture that passion.

Some goals for diyNatural were:

  1. To simplify life and learn new skills.
  2. To live a natural, sustainable lifestyle, and inspire others do the same.
  3. To earn money by creating something awesome.

In late October of 2010 I quit my job and toyed with the idea of creating information full-time. For a few months I tried to make the transition but – for whatever reason – wasn’t quite ready to take the plunge. I explored other avenues of work including a 3 month, $800 investment to become a financial advisor. It was not in line with my gifts and desires the way I thought it’d be.

Finally in February of 2011 I jumped off the entrepreneurial cliff and committed myself to creating information full-time. I would succeed, or fail while trying my best.

Website traffic and earnings increased as I lived and grew the plan, and it’s a good thing because in July Betsy left her full-time job to avoid having a stress breakdown (she was in the same boat I had been in, but under a lot more pressure).

That summer she began writing for diyNatural and on September 1st we released our first ebook titled DIY Natural Household Cleaners: How to make your own cleaners… naturally.

Two and a half months later we released the book in print version on Amazon, and just a few days ago made it available on Kindle and other e-reader platforms.

We had never run websites for a living – but we made it work because we were passionate about creating and sharing awesome information. We had never published, marketed, or sold an ebook, print book, or Kindle book – but the book is selling very well.

Nowadays we’re content using our God-given gifts to inspire others in holistic stewardship. We have time freedom, we’re happy with our work, and we trust God to provide. He always exceeds our best expectations!

Now it’s your turn to create and sell

Betsy and I focus on creating information products. We give most of the information away for free, but sell enough to support the work.

Maybe you want to create and share your gift and passion for art. Maybe crafts. Maybe farming. Maybe you have a flair for graphic design and want to build awesome websites for people, businesses, or charities.

Whatever your passions are, start creating something awesome, and trust God with the details and provisions. He gave us the desires of our hearts to steer our lives in certain directions. Stop ignoring Him.

Don’t worry about selling – yet – just focus on a passionate interest, outline some goals, and start creating.

Who knows, maybe in 3 years you’ll be much happier with your answers to the two questions asked above!

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photo credit: Mickey van der Stap