Some of the most important principles in business that are biblical and also effective
As a Christian business owner, you need some biblical principles to help you run your business. So, what are some of the core biblical principles in business?
In this post, we are going to look at some business principles that can be found in the Bible, and how these principles can help you build a successful business and have a great year.
So, here are some of the most important biblical principles for business for entrepreneurs looking to grow and anchor their business on the word of God.
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13 Biblical Business Principles for a Great New Year
“Whoever walks in integrity walks securely, but he who makes his ways crooked will be found out.” (Proverbs 10:9)
An entrepreneur who walks in integrity walks securely. You don’t walk in fear or live in fear that you are going to be found out because all your business practices are above board.
As a Christian entrepreneur, you are required to conduct your business with integrity. This means honesty and fairness must underpin everything that you do. In practical terms, walking in integrity means that your customers are left with no doubt that whatever service or product you sell is fit for purpose and they are being treated fairly.
When you walk in integrity, you don’t cheat your business partners or your employees. Also, you don’t cheat on your taxes or lie to your creditors. A person who walks in integrity is consistent and doesn’t pick or choose when to do it.
So, one of the most important biblical principles of business is integrity. Having strong principles that you believe in and that you follow at all times. Admittedly, there are times when walking in integrity may cost you some business or affect your profit, but a business owner who seeks to honor God will accept the price knowing that they are living and operating their business according to God’s word.
If you want to have a great year, you should start by being a person of integrity, walking in truth, and demonstrating ethical principles in your business.
“But all things should be done decently and in order.” (I Corinthians 14:40)
Good business management is crucial if you want to grow a successful business. A business owner should know how to organize and control their business effectively.
Disorganization, lack of planning, and mismanagement are some of the most common reasons why businesses fail. As a Christian business owner, you are not immune to failure. You still have to manage your business effectively to be successful.
Good management requires systems and processes that will allow you to run your business more efficiently. You can’t build or grow your business without the right systems and processes in place. So, think about how you currently run your business. Are you a good manager? Is your business organized and orderly?
Do you have a system for tracking how your business is doing? For example, do you know your most effective marketing tactic? Where do most of your business come from? Do you have a system for finding new customers, hiring new employees, or creating new products?
Good management is one of the most important Christian principles in business, so if you are not doing a good job there, you need to fix it so your business can fulfill its potential.
3. FINANCIAL PRUDENCE IS ONE OF THE BIBLICAL PRINCIPLES IN BUSINESS
“Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it.” (Proverbs 21:20)
As Christians, we are stewards of God’s resources, and we should be mindful of how we use them. This is even more important when you are a Christian entrepreneur.
For a business to thrive, your finances have to be in order meaning your business should be cash flow positive, have minimal debt, and adequate financial resources. Creating financial efficiency in your business should be one of your primary tasks as a Christian business owner.
The Bible has a lot to say about how we should manage our financial resources, so you will do well to know these Bible verses and apply them to your business.
So, how do you create financial efficiency in your business?
You start by taking inventory of where you stand financially. Next, you identify any area of your business you are losing or leaking money. For example, are you paying too much for a particular service or expense, or are you spending too much money providing a service or creating your products?
These are all questions you should be asking in your business if you want your business to prosper long term.
The post below can show you some other ways you can make your business more efficient financially.
4. RESPECT YOUR CUSTOMERS
“So whatever you wish that others would do to you, do also to them, for this is the Law and the Prophets.” (Matthew 7:12)
I have spoken a fair bit about respecting your customers, employees, and everyone else you do business with. Treating people with respect is something that should mark and differentiate a Christian entrepreneur from others.
I am sure you have had some unpleasant experiences as a customer and you know how that made you feel. So, always put yourself in your customer’s shoes and treat them the way you’d want to be treated.
Without customers, you won’t have a business, so always remember that when choosing what course of action to take. I know some customers are more demanding than others and will test your patience but always lead with love and empathy.
Your customers are valuable, so make sure they know it, so they can keep coming back for more.
5. MARKET YOUR PRODUCTS AND SERVICES
“A slack hand causes poverty, but the hand of the diligent makes rich.” (Proverbs 10:4)
Getting the word out about your products or services is the only way you can grow your business. I am not going to lie, marketing is hard that’s why so many entrepreneurs struggle with it.
There are countless business owners with great products, but no one knows they exist because they can’t find a way to promote their products or services. This is very sad and something you must avoid if you want a thriving business.
So, promoting your products or services should be at the forefront of everything you do this year. You must find ways to get the word out about your business. Leverage both traditional and digital media or tactics to market your business.
If you don’t know how to do marketing effectively, learning how to do it should be your number one goal for the year. You are not going to make much progress until you learn how to attract customers to your business.
6. COMMITMENT TO EXCELLENCE AND LEADERSHIP ARE BIBLICAL PRINCIPLES FOR BUSINESS
Christian entrepreneurs should demonstrate Christian leadership in business. They should be role models and mentors and pave the way for others to follow. And, one of the ways to do so is a commitment to excellence.
As a business owner, you are a leader whether you know it or not, so how you run your business matters because there are people looking up to you.
A Christian business owner should provide leadership and guidance for their employees, and the best way to do it is by living it. It’s not enough to tell people what they should do or how they should act. You must lead by your example.
Finally, you have to be committed to excellence. Providing excellent customer service, working on improving your products and services, and trying to be the best that you can be at all times.
7. HAVING QUALITY PRODUCTS AND FAIR PRICING ARE CHRISTIAN BUSINESS PRINCIPLES
“A false balance is an abomination to the Lord, but a just weight is his delight.” (Proverbs 11:1)
I will confess that I would like to make as much money as I can from my business, but what is even more important is that I offer quality products or services to my customers at a fair and competitive price.
So, I strive to not misrepresent what I am selling or make promises about my products or services that I know I can’t keep. As an example, don’t tell your customers your product will work in seven days when you know it takes longer than that to see any result.
Also, fair pricing is a really important Christian principle in business. I know that some of your customers can afford your price and what you are selling, but always ask yourself “Is this a fair price I am asking?”
Finally, the two things to always remember is that you need a quality product or service to stand out and grow your business, but you also need to charge a fair price for them and don’t make promises you can’t keep.
8. SPEND YOUR TIME WISELY
“Making the best use of the time, because the days are evil.” (Ephesians 5:15)
One of the most important Christian principles in business is time management. One key lesson I have learned as an entrepreneur is that what you focus on grows and what you neglect dies.
So, the question now is, are you focusing on the right things in your business? Do you spend much of your time working on the mundane or does the bulk of your time go towards income-generating activities?
If you are a sole proprietor, finding the time to do everything can be very challenging that’s why it’s even more important that you learn how to prioritize your tasks and manage your time effectively.
Poor time management will hinder or stunt your business growth so you have to be smart about where you spend your time and what the things you focus on.
If you are going to have a great year, you must become very purposeful with time management. Make every single minute count and identify the tasks or activities with the highest return on investment, because those are the tasks that should get most of your attention.
If you struggle with time management, here are some of my favorite time management tools that can help you get a better handle on your time, so you can become more productive.
9. TURN IDEAS INTO ACTION
Remember your idea folder and all the things you have been meaning to do for your business? Yeah, me too! Unfortunately, ideas don’t work unless you do. It doesn’t matter how many ideas you have for your business or how great they are if you never take action on them.
The longer you put off taking action, the more difficult it becomes. So, stop putting off those ideas or changes you want to make in your business, instead, start testing them out so you can keep what works and get rid of what doesn’t.
The Bible says that mere talk leads only to poverty. I can personally attest to that. Turning ideas into action and being diligent are business principles in the Bible, and a smart Christian business owner will do well to pay attention to them.
So, never let uncertainty or fear stop you from taking action. Think about all the ideas you have, and put some effort into taking action and making them work.
10. KEEP GOOD FINANCIAL AND OTHER RECORDS
Whether you are a small business owner or own a large company, it’s a good idea to keep good financial records and other records. The kinds of records you have to keep (or how long you need to keep them for), will depend on your business structure.
This is why you should track your business spending, have a separate business account, keep receipts, and have a folder to keep a record of your business finances.
A number of businesses have gotten into financial trouble and also trouble with the IRS or taxman because they failed to keep adequate financial records or they had problems with their taxes. Jesus admonishes us to give to Caesar what is Caesar’s, so paying taxes and complying with the legal requirements of operating your business is something that you should be serious about.
So, keep a record of your income, expenses, your assets, and liabilities or debts (if you have any). You just never know when they may come in handy.
11. KNOW YOUR MARKET AND YOUR COMPETITION
Successful businesses know their market very well and they know who their competition is. Since your business doesn’t exist in a vacuum, it’s important to know who your customers are so you can better serve them.
Also, it’s smart to know the other players in your market or industry so you can figure out your competitive advantage and a way to stand out from the crowd. You don’t want to be like everyone else because you will get lost in the sea.
Some markets or industries are more competitive than others so the more you can differentiate yourself from the competition, the higher your chances of gaining a bigger share of the market.
Now, I know some of you are probably thinking this doesn’t apply to you because you are just a mom and pop shop. But, you are wrong. No matter how small your business is or what type of business you own, you will likely have some competition, so taking the time to improve your competitive advantage will definitely serve you well.
12. NETWORKING WITH LIKE-MINDED INDIVIDUALS
“Iron sharpens iron, and one man sharpens another.” (Proverbs 27:17)
Networking with like-minded individuals is a great way to learn more about your business or industry and gain invaluable knowledge or information from people who know more than you do.
As a Christian business owner, you should try to seek out Christian business mentors or other entrepreneurs especially if they have been in business for a long time. You can gain a lot of knowledge from others that will help you to avoid certain pitfalls and mistakes in your own business.
Even if you can’t attend physical or face-to-face networking events, you can do a lot of networking online. For example, you can meet people and other business owners via social media or forums. Some forums or groups can be very helpful and informative.
So, don’t isolate yourself or think you are in this journey alone. There’s a lot of help available as long as you are willing to reach out and network with other people like you.
13. PRACTICE GRATITUDE
“Give thanks in all circumstances; for this is the will of God in Christ Jesus for you.” (1 Thessalonians 5:18)
While it might be true that your business isn’t where it’s supposed to be, the Bible tells us to give thanks in all things. The good news for you is that this is a new year and another opportunity for you to change the course of your business.
Gratitude and thankfulness are bible business principles that can change how you approach your business and also your state of mind. Because when you are thankful for your little success, you will remember to be thankful for the big one.
While it isn’t very easy to practice gratitude in the midst of business challenges, you can learn to cultivate a thankful heart through daily practice. For example, every day, you can write down three or more things you are thankful for even if they are unrelated to your business.
An easy way to do this is to use a gratitude journal. If possible, try to do this first thing in the morning before you start your day. With this practice, you can learn to enjoy your day even when faced with challenges because you know there are things that are right in your world.
So, learn to be thankful no matter the situation and always give thanks to God for his mercy and many blessings.
Closing thoughts on 13 Biblical Principles in Business for a Great New Year
There are lots of biblical principles for business, but the ones in this post are some of my favorite and can really help you to boost your business.
So, if you are looking to build a biblical foundation for your business and also grow your business with Christian principles, the thirteen principles in this post will allow you to do that. Keep working on your business and at the end of the year, you should be able to look back and attribute your success to these biblical principles for business.
Which of these Christian principles in business do you think you need to apply in your business?