FAMILY BUSINESS PRINCIPLES

THE MAN

Establish Vision & Purpose

Lead By Example

Protect & Provide

THE WOMAN

Support Worthy Vision & Purpose

House Manager

Assist as necessary

What are the two sides of the Family Business Equation?

So who makes the spending decisions?

Who should do the check book?

Who should take the phone call from the bill-collector?

(Answers below!)

7 KEYS:

#1 - THE PRINCIPLE OF DILIGENCE

Diligence - Active, focused, goal-oriented, persistent concerning "work".

vs.

Laziness - Passive, pleasure-governed, evasive concerning "work".

Prov 13:4 - The diligent and the lazy both have strong desires, but only one is blessed.

Prov 24:27 - Know what you're doing before you stake your claim.

Prov 22:13 - The lazy worry too much. The righteous are confident.

Prov 20:4 - The lazy want perfect conditions. The diligent press on.

Prov 6:6-11 - Prescription for the lazy.

Prov 27: 23-27 Know where you stand financially, because things change. Plus encouragement that things will work out according to God's plan for the diligent.

Q - How do you "teach" or "coach" diligence?

By pampering? Demeaning? Enabling? Nagging? Or by:

Encouragement, trust (to take responsibility with consequences), "You've got what it takes!"

#2 - THE PRINCIPLE OF COMPETENCE

Competence - Being thoughtful, evaluating, thorough, effective, successful

vs.

Sloppy - A slacker, quitter, ineffective.

Prov 10:4 - Consequences of both.

Prov 31: 18& 31 - Just payback and good reputation.

Competence comes from Training, on top of the other positives mentioned in "diligence". It's re-enforced by seing the fruit of your labor. "You can make it happen." People find their way around this world by pursuing things they're GOOD at.

#3 - THE PRINCIPLE OF GENEROSITY

Generous - A fruit of the spirit: giving of self to care for another.

vs.

Stinginess - Hoarding for self-protection

Prov 3:27, 28 - Give to people and organizations that are worthy, when you are able.

Prov 28:27 - Care for the needy (discerningly.)

Prov 11:24 - Consequences of generosity vs. stinginess.

Prov 3:9-10 - First-fruits to God. (See also: principle #7)

How do you best develop this trait? What discourages it?

#4 - THE PRINCIPLE OF PRUDENCE

Prudent - Wise, discerning, cautious, patient.

vs.

Simple-minded - Gullible, impulsive, emotional.

Prov 27:12 - The consequences of the Simple vs. the Prudent.

Prov 27:13 - Get a down-payment when selling. Protect your assets.

Prov 11:15 - Don't enter a contract without checking out the person.

Prov 6:1-5 - Don't get into the middle, indescriminently co-signing things.

Prov 13:11 - Easy money doesn't last.

Prov 28: 19-20, 22 - Forget "get rich quick" schemes.

Should you automatically trust all Christians?

Does God provide for His children through gambling? Is it a mathematically reasonable investment?

When your feelings tell you it's right, it must be God urging you, correct?

#5 - THE PRINCIPLE OF INTEGRITY

Honesty and Loyalty

Vs.

Situation Ethics and Treachery

Prov 16:11 - God invented justice and the ways to measure it.

Prov 28:8 - Ripping people off won't pay in the long run.

Prov 15:27 - Concerning bribes.

Prov 27:18 - Loyalty will bear fruit.

Prov 22:1 - Your reputation is of more value than money.

People have to spend money. Who are they trying to give it to? Honest people or dishonest?

Do thieves and cheaters fear God or trust God? So how much of His help will they get?

#6 - THE PRINCIPLE OF MOTIVE

What do you want money for?

Prov 21:17 - Pleasure-lovers won't be prosperous.

Prov 3:13 - Wisdom brings the best prosperity.

Prov 30: 7-9 - The prayer of the wise concerning money.

So what do you want money for? To provide needs for yourself and family? To indulge yourself in pleasure? To impress others? To bring about positive change in the world?

#7 - THE PRINCIPLE OF SUBMISSION

Is your "Work Life" and your "Church Life" separate?

Prov 8:17-21 - God is the source of all lasting blessing.

Prov 3:5-6 - Trust God's principles over your own.

Prov 16:3 - Commit your work to Him and your plan will work out. (ie Work unto Him)

Prov 8:15-16 and 12:24 - God decides who gets to be boss, usually based on diligence!

Who has promised to provide for you?

What are the two sides of the Family Business Equation?

MONEY COMING IN (EARNINGS) and MONEY GOING OUT (SPENDING)

The right side of the equation cannot exceed the left.

You can spend all you can earn, but not more. Throughtout the entire history of man, No one has ever successfully over-ruled this equation without invading someone elses family Business Equation.

So Who makes the spending decisions?

The husband generally leads in decisions concerning the family's protection and purpose, but always with input from the wife. The Wife generally leads in decisions concerning internal home management. On amounts over $100, (or whatever you mutually agree on), both sides should have input and enjoy the right to veto. Neither party has the right to mess with the Family Business Equation. It is immovable. Spending money without a plan to pay it promptly from established earnings is a violation of God's principles.

Who writes the checks, and balances the checkbook?

Whichever party is the most technically qualified, or interested, can do it. However, there are to be no secrets. All decisions over $100 should be discussed. If one party has been irresponsible with spending, then the checkbook and credit cards should be forfeited to the other party. In times of financial crisis, when spending exceeds earnings, it is the husbands duty to choose which bills should be paid, and it is his job to respond to calls from bill-collectors.

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