Why many businesses fail
Understand And Appreciate Your Present Size
Life is in stages. Some people said it’s in phases or doses. And men are in sizes. You must not allow what you see around other business people, blind you from seeing and appreciating your present size. The CEO of the company in the next block might be using a Limousine. You must be careful that it is not the reason why you also want to have one.
“For precept must be upon precept, precept upon precept; line upon line, line upon line; here a little, there a little.” (Isaiah 28: 10 NKJV)
Life is in seasons. You must understand the season you are in. You must also know that the season you are in may be different from that of others (no matter how close they are to you). If you understand this, you won’t take your dinner as breakfast. If you understand this, you will not overload your business.
Relate With The Right People
A major problem the prodigal son had was that he joined riotous people. The kind of friends you keep can affect how you spend.“Do not be misled: Bad company corrupts good character.” (1Cor.15: 33 NIV).
This is very common in this part of the world, where friends tend to do things in common to feel good. Consciously develop relationships with people that are future-focused and prudent in their financial decisions.
If your friends are the kind of people that party all the time, you may spend so much trying to service them. But if your friends are more of people that are less pleasure-minded and investment-conscious, you’ll find yourself thinking and living like them.
Don’t Under-Compensate Your Staff
“For the Scripture says, “Do not keep an ox from eating as it treads out the grain.” And in another place, it says, “Those who work deserve their pay.”” (1Tim.5: 18 NLT)As your business grows financially, your staff too must grow, in order to keep the business growing. This will ensure that you keep getting the best out of your staff and enjoy the blessings of the Law of Seedtime and Harvest. Whatever you do for your staff is an investment, which will later be greatly rewarded. This also gives your staff a deep sense of belonging.
Your employees are your representatives. They cannot represent you well, unless they are well compensated. This is why you should not hire people you can’t compensate satisfactorily.The Law of Seedtime and Harvest is also known as the Law of Cause and Effect. This law is operational in the business world and everywhere. This is why a company that tries its best for its staff is usually an ever-progressive company.
Make plans and establish systems that will guarantee a better and brighter future for your employees. Arrange mortgages and some other kind of investment plans for them that will put them in front among their equals. This will attract great blessings from God and you’ll enjoy the people’s goodwill.
See Yourself As An Employee Or A Caretaker
As a matter of fact, there is nothing we brought to this world and there is nothing we are taking from it. Ultimately, “the earth is the Lord’s and the fullness thereof.”We are all caretakers and our success is tied to our understanding of this basic fact.
If you see yourself as a caretaker, you won’t see all the profit you make as yours, hence, you will always pay yourself from the total profit. You’ll know you are accountable to God and you have to be a faithful steward.
“Well done, my good and faithful servant. You have been faithful in handling this small amount, so now I will give you more responsibilities. Let’s celebrate together.” (Matt.25: 21 NLT)
When you see your business as God’s, then it will be as big as God, but when you see it as yours, it won’t be bigger than you.
Those who are trying to put up a show for a while cannot see themselves as caretakers of their own businesses. However, those who consider posterity, see their businesses beyond themselves.
With a caretaker mentality, you won’t break the rules you set in the company, because you’ll have a sense of accountability to God, the Master. This will help you develop the most effective leadership style: Leadership By Example.
Make Other Wise And Stable Investments
As your business grows from the realm of survival to the realm of surplus, begin to create more sources of income. Start consulting investment experts, so that you can start digging the right well for the dry season. This will help you gain more stability.
If the sun is facing you now, know that a time is coming, when you won’t see it anymore. You don’t wait for that time before making enough arrangements for an alternative (or alternatives as the case may be). Most people that thrive in the market place have more than one source of income.It was discovered that McDonald was not only in the food industry, he was also into real estate and other forms of investments.
Tithing And Giving
There was a Law in Israel in the Bible days, which restrained farmers from harvesting the corners of the field. Also, grains that dropped on the ground were to be left for poor people to come and pick up for their livelihood. This was some kind of welfare programme for the needy in Israel. (Ruth2: 2,3).
Tithing is the giving of 4-10 percent of your income to God’s vineyard. It is to divinely secure and insure the remaining ninety percent. Giving to the needy and kingdom projects is a way of connecting your business/career to the Author of Supernatural Increase, because there is a supernatural side to success in business (1 Cor. 3:6)
If you have a caretaker mentality, you won’t have any problem with tithing and giving. If you see God as the Owner of your business, giving Him His portion from your income will not be difficult for you. Get this possessive/ownership mentality out of your head and see yourself as a privileged steward that should be accountable to His Master.
“Will a man rob God? Yet you have robbed Me! But you say, In what way have we robbed You? In tithes and offerings. You are cursed with a curse for you have robbed Me, even this whole nation.
Bring all the tithes into the storehouse, that there may be food in My house. And try Me now in this, Says the Lord of hosts, “If I will not open for you the windows of heaven and pour out for you such blessing that there will not be room enough to receive it. (Mal.3: 8 -10)
Enjoy A Good Family Life
You may be wondering what has my family life got to do with the growth of my business/career? There is a popular saying that “behind any successful man there is a woman.” I would like to say it this way, that “behind every successful man there is good family support, from the wife and the children.”
I believe going to work is like going to war. So, if the atmosphere of your home is not healthy enough to revitalise you, you’ll always go to work tired and wounded. Whenever you leave the market place as a businessperson discouraged, you are supposed to get back the next day encouraged. If you left wounded, you are supposed to get back healed.
There are seasons in your business that things might not be going too well. At this time, you need your spouse and children to understand and give you every necessary support. Their understanding and support at this critical time is very essential to the survival of your business. If you go through it together, you’ll soon break through it.
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