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Equipping people worldwide to learn, apply, and teach God's financial principles so they may know Christ more intimately, be free to serve Him, and help fund the Great Commission.
Today on MoneyLife
Friday, October 24, 2008
John Gish: Running a Small Business in a Down Economy
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Things are going to get tougher, expect more people to lose their jobs. However, we don’t want people to lose hope and stop relying on the Lord. Christians should never be fearful, panicked, or paralyzed. God can always give us ideas about things we can do and we should be open to them. Chuck says God always gives to those who ask, and then shares the story of how Levi's jeans originated. See also Jeremiah 33:3.
John shares about himself, his family and how he started his company as a trim carpenter. As time went on, John found himself doing more and more stairs, and eventally decided to specialize in stairs. Woodland has grown considerably, reaching $6.8 million in gross sales in 2006. Since the housing bubble burst, however, John's had to cut back in the last two years. Many of the job contracts they had were torn up because the building projects stopped. It became difficult to make good business decisions. John has had to become much more fiscally conservative with the business. John says he wants to remember this time of uncertainty and his total dependence on God. John had a list of goals when he started the business and getting rich wasn’t one of them. the goal was to be content with whatever God wanted him to make and to handle whatever God gives him in a way that glorifies the Lord. Even though this experience is extremely painful, John looks at as a positive. He’s excited about what the Lord is going to teach him through this. John’s business has lost 80% of its total revenue in the last two years. He's been forced to look at alternative ways to earn income, such as hardwood flooring, trim work, and kitchen remodeling. John will also launch a new business in January called “Dream Decks.” He says we can’t let current circumstances dictate future plans. Don’t let the state of the economy determine all your decisions. If you do, you're looking to the economy, and not looking to God. Everything you do should be dictated by God’s Word. John says he wants to make money to further God’s kingdom. He has a foundation called Plant s Seed.) Relevant verses: In the final segment, Chuck tells listeners that many people think this is a bad time to start a business. They're afraid all opportunity is gone. This isn't true; recessions are typically the best time to start a business. There's less competition, labor is available, costs are lower. Of the 30 corporations currently in the Dow Jones Industrial Average, 16 were started in a recession. If God has placed it on your heart to start a business, do it. If you’re already a small business owner, find ways to diversify as John Gish has, going from stairs to decks, for example. If you're employed but thinking about starting a business, moonlight part-time and see how it goes. Work six days and not five. Make Saturday the day you moonlight, work it like a weekday. You can also work evenings. Specifically look for ideas that make or save other peopl money, a foundational need during a recession. Relevant verses: Check out the new Help, Hope, and Insight feature for information about navigating these difficult financial times. |
Being ContentContentment is knowing God’s plan for your life. Therefore, seek God’s will for your life, then trust God’s promises. |
The Purpose of a BusinessAlthough it’s true that one essential element of a Christian business is profit, the primary purpose is to glorify God. |
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Business PrioritiesAlthough some Christian business owners have financial priorities, many are not in line with God’s Word. |
What Is a Christian Business?Knowing God’s principles and precepts is the first step to serving His purposes by running the business according to his rules. |
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Other Resources: |
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Even in this down economy, there are always new business opportunities. MoneyLife host Chuck Bentley tells listeners today that we can’t be blind to the opportunities God gives us; we have to keep our eyes open.
After the break, Chuck welcomes John Gish to the program. John is President of
