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David Green, founder of Hobby Lobby, desired to maintain his commitment to be a steward of his business, rather than an owner. David says, the business is like a tree that bears fruit.
If you believe you own the tree, you may decide to break-off the branches to give to your heirs after your death. Family feuds can then destroy the business.
David restructured Hobby Lobby so that the children have no future rights of ownership, but instead, they have voting rights to steward God’s company.
Psalm 24:1 teaches, “The earth is the Lord’s, and all it contains, the world, and those who dwell in it.”
Each business owner needs to decide the best succession plan for all involved, but be careful to remember, they’re a steward, not the owner.
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