Heavenly Principles of Trading

HEAVENLY PRINCIPLES OF TRADING REFERENCE SCRIPTURE Luke 19:12-13 Therefore He said: “a nobleman went into a far country to receive for himself a kingdom and to return. So he called ten of his servants, delivered to them ten minas, and said to them, ‘Do business till I come.’” THE WORD ON BUSINESS AND CAREER Purpose Proverbs 24:3-4: Through wisdom (insight about self & the market) a house (business) is built; and by understanding (exposures & experience) it is established: By knowledge (information & learning) the rooms (the different arms of the business) are filled with all precious and pleasant riches. Compared this with how the first ever and oldest business institution was created: Proverbs 3:19-20 The LORD by wisdom founded the earth; by understanding He established the heavens; by His knowledge the depths were broken up, and clouds drop down the dew. Purpose answers the question “what business am I in and why am I in that business?” Purpose is like the centre forward of a football team. He sets the direction of the business. Possession of the ball begins with him. Business people must have a well-defined purpose for their business that includes not only the type of business and market but also the area of ministry that can be done through that business. Planning Proverbs 24:27: Prepare your outside work, make it fit for yourself in the field; and afterward build your house. Planning answers the question of ‘where do you want to go and how are you going to get there?’ Planning is like the mid-fielder on a soccer team. Planning involves being on the offensive and developing goals so that the business can win the game. It also involves being on the defensive and anticipating problems and solving them before they happen. Without this position on the team, the game will be lost because there is no game plan. As the saying goes, business people who fail to plan, plan to fail. Timing Ecclesiastes 3:1 To everything there is a season, a time for every purpose under heaven. Ecclesiastes 8: 5-6 (NIV) Whoever obeys his command will come to no harm, and the wise in heart will know the proper time and procedure. For there is a proper time and procedure for every matter, though a man’s misery weighs heavily upon him” Managing Matthew 25:20-21 So he who had received five talents came and brought five other talents, saying, ‘Lord, you delivered to me five talents; look, I have gained five more talents besides them.’ His lord said to him, ‘well done, good and faithful servant; you have been faithful over a few things, I will make you ruler over many things. Enter into the joy of your lord. Managing answers the question of how you are going to operate your business and who is going to have control? Managing is like the coach of a soccer team. The coach has to make sure all the details are taken care of for the team to get to the game and be ready to play it. He oversees the play and makes sure the players are healthy and doing what they are all supposed to be doing. The coach has to be familiar with all the positions on the team and recommend what should be done to improve performance. BUDGETING & FINANCIAL MANAGEMENT Luke 16: 10-12 He who is faithful in what is least is faithful also in much; and he who is unjust in what is least in unjust also in much. Therefore if you have not been faithful in the unrighteous mammon, who will commit to your trust the true riches? And if you have not been faithful in what is another man’s, who will give you what is your own? Budgeting answers the question of where will you get the money to operate your business and how you are going to manage that money. Budgeting is the defender on a soccer team. The defender is careful not to be caught out of position lest the opposition gain the advantage. In budgeting, business people must be careful that they have enough financial resources to enable the business to function and to grow. Budgeting involves planning and monitoring financial resources and making the necessary changes so that the team is in position to win the game. RECRUITMENT & PERSONNEL ADMIN. Exodus 31:1-6 And the LORD spoke unto Moses, saying, See, I have called by name Bezaleel the son of Uri, the son of Hur, of the tribe of Judah: And I have filled him with the spirit of God, in wisdom, and in understanding, and in knowledge, and in all manner of workmanship, To devise cunning works, to work in gold, and in silver, and in brass, And in cutting of stones, to set them, and in carving of timber, to work in all manner of workmanship. And I, behold, I have given with him Aholiab, the son of Ahisamach, of the tribe of Dan: and in the hearts of all that are wise hearted I have put wisdom, that they may make all that I have commanded thee. Staffing answers the question of who will be employed in your business and how will you employ them? Staffing is the goalkeeper. The goalkeeper is behind all the other players on the team. So, it is the staff of a business who are behind its success. Being in the right position is very important for the goalkeeper, so it is important that the business have people in the right positions. The goalkeeper puts the ball back into play and can control the pace of the game, slowing it down or speeding it up. The staff of a business who are properly cared for and receive a good wage will keep the business moving and productive. Employer-Employee Relationship Leviticus 19:13 You shall not defraud your neighbour, nor rob him. The wages of him who is hired shall not remain with you all night until morning. Jeremiah 22:13 Woe unto him who builds his house by unrighteousness, and his chambers by injustice; who uses his neighbour's service without wages, and gives him nothing for his work. Proverbs 22:16: He who oppresses the poor to increase his riches, and he who gives to the rich, will surely come to poverty. Proverbs 22:22-23: Do not rob the poor, because he is poor: nor oppress the afflicted at the gate: For the LORD will plead their cause, and plunder the soul of those who plunder them. Employee-Employer Relationship Proverbs 27:18 Whoever keeps the fig tree will eat its fruit: so he who waits on his master will be honoured. Titus 2:9 Exhort servants to be obedient to their own masters, to be well pleasing in all things, not answering back, not pilfering, but showing all good fidelity, that they may adorn the doctrine of God our Saviour in all things. Employee-employee relationship Proverbs 30:10: Do not malign a servant to his master, lest he curse you, and you be found guilty. PRICING Proverbs 15:27: He that is greedy of gain troubles his own house; but he that hates bribes shall live. Proverbs 10:2: Treasures of wickedness profit nothing: but righteousness delivers from death. Proverbs 16:8: Better is a little with righteousness than great revenues without justice. Proverbs 28:8 One who increases his possessions by usury and extortion gathers it for him who will pity the poor. Marketing Proverbs 11:26 He that withholds corn, the people shall curse him: but blessing shall be upon the head of him that sells it. Proverbs 20:17 Bread gained by deceit is sweet to a man; but afterwards his mouth will be filled with gravel. Marketing answers the question of who is going to buy your product or service and how, where and when are you going to sell it to them? Marketing is like the striker on a soccer team. Marketing scores the goals or makes the sale. Just as a striker must be skilled in handling the ball and in shooting it, so must small businesspeople need to develop skills in handling customers and selling their product or service. Marketing involves knowing the opposition and the playing field and developing strategies to take advantage of team strengths and opposition weaknesses. Just as the striker must finish the play to win the game, so in marketing the businessperson must close the deal and follow through with it for the business to succeed. CLIENT SERVICE AND CUSTOMER/GOVERNMENT RELATIONS Proverbs 21:6 Getting treasures by a lying tongue is the fleeting fantasy of those who seek death. Proverbs 17:23 A wicked man accepts a behind the back to pervert the ways of justice. Proverbs 25:26 A righteous man who falters before the wicked is like a murky spring, and a polluted well. Proverbs 29:4 The king establishes the land by justice: but he who receives bribes overthrows it. WEALTH CREATION Proverbs 20:21 An inheritance gained hastily at the beginning will not be blessed at the end. Proverbs 13:11 Wealth gained by dishonesty shall be diminished: but he that gathers by labour shall increase. Proverbs 28:20 A faithful man will abound with blessings: but he who hastens to be rich will not go unpunished. Proverbs 28:22 A man with an evil eye hastens after riches, and does not consider that poverty will come upon him. Your Personal/Corporate Image Proverbs 22:1 A good name is to be chosen rather than great riches, loving favour rather than silver and gold. Your Personal Hygiene on the Job Proverbs 23:4: Do not overwork to be rich: because of your own understanding, cease. WRONG REASONS TO GO INTO BUSINESS 1. Because you are sick and tired of being told what to do 2. Because you want more freedom 3. Because you feel unappreciated or undervalued in your present job 4. Because you want to make a lot of money 5. Because you want to improve your standard of living 6. Because your friends or loved ones are going into business 7. Because other people are doing that kind of business and making much money from there 8. Because it is the reigning business in town QUESTIONS TO ASK YOURSELF BEFORE STARTING A BUSINESS 1. What do I have the resources, ability, interest, and contacts to do? 2. Do I have the necessary commitment needed to succeed in a business undertaking? 3. Am I prepared to work extremely hard, to devote long hours of labour to my business? 4. Do I have the mental stamina and concentration to meet the demands my project will impose on me? 5. Do I accept new ideas easily? 6. Do I treat people with courtesy? Do I have good human relations skills? 7. Am I able to make decisions right away? How do I deal with problem solving: Am I prepared to spend time analyzing a problem and find a solution? Or am I the type who just closes his eyes and hope for the best? 8. Am I ready to commit to the long term, knowing that a company’s success is never an overnight miracle? 9. What back-up resources do I have? Will my family members or friends invest in my company or tide me over during a rough patch? 10. Am I good at concentrating on details? 11. Am I ready to sit down and write a careful analysis of my business prospects? 12. Am I by nature an optimist? Knowing that mistakes and setbacks are bound to occur, am I able to learn from my mistakes without being derailed or discouraged? 6 Steps to Planning a Successful Business Step 1: Start with an examination of who you are What are the skills, abilities and resources you have to start a small business? Pray and ask God to lead you in the process. Step 2: Decide what type of business YOU WANT TO DO You want to start and what types of products or services you will provide. Decide how much income you will need from that business. Seek God in prayer as to how you can fulfill His purpose for you in business. Step 3: Do your research Gather the facts about the type of business you want to start. Discover who your customers will be and approach some of them with the idea of starting your business. Find out from them what it is they will expect from your business. Discover who your competitors will be and find out how well they are doing in the type of business you want to start. Also, find out what legal obligations you need to fulfill in the business. Be careful not to make assumptions. Confirm that your assumptions are valid. Ask God to lead you to the right people who have the right information that you need. Step 4: Decide how much money will be needed To start the business and what your operating expenses will be. Decide how much you will be able to contribute and how much money you will need to borrow. Research potential friends, family and financial institutions that can finance your business. Expect the unexpected. Ask yourself; "What could go wrong?" and then plan for it. Develop a contingency so that you are prepared Pray that God will provide for your needs. Step 5: Set realistic goals For the number of sales you will make the amount of income you will receive and the overall development of the business. Be sure to take into account the risks of inflation, bad debt, competition and other risks. Your Goals must be SMART: Specific, Measurable, Achievable, Realistic, and Time Limited. Break these objectives down into specific tasks in order of their priority. Pray that God will give you a sober mind and will guard your steps. Step 6: Develop a written business plan That covers the information you have discovered after the first five steps. Present your written business plan to your family or friends for their advice and comment. Have them pray with you and commit your plan to God so that He will lead you as you start your business. Do an evaluation of your written plans after a period of time and see whether or not you have accomplished your objectives. If not, why not? "Plans fail for lack of counsel, but with many advisers they succeed." (Proverbs 15:22).