Some employers are beginning to pay people less if they move to a community with a lower cost of living, even though the work being produced is the same. Other employers are hiring great talent in Midwestern cities by paying them West Coast wages. Paying employees equitably has become complicated. Jesus told a parable about hiring workers throughout the day ...
We recently leased new office space which required us to obtain furniture. Desiring that our limited resources go to ministry rather than furniture, we asked our local community for help. Within hours, dozens of people generously exceeded all our furniture needs. Their generosity allowed them to participate in impacting business leaders around the world. In 2 Kings 4, a widow ...
As shepherds over the flock God has placed in our care, we need to realize that sometimes employees may experience a death in the family, medical emergencies or transportation challenges. These are times when an intentional and proactive approach may be a blessing to your staff. For example, one bank I worked for established a company benevolence fund. Both the ...
Many Christians have heard about the generosity of Hobby Lobby, but there’s another company in Oklahoma City that many locals point to when discussing generosity. The company’s name is Jasco. When I trolled Jasco’s website, I was impressed by not only their extreme generosity, but also by their strategy. Jasco remarkably gives away 50% of their profits to charitable causes, ...
Many business owners believe that the privately-held stock they own in their company has little value until they sell the business. Mark discovered otherwise. Mark leveraged his stock long before selling his business. Mark had his business appraised, then donated 20% of his company stock to a donor advised fund. (That’s basically a checking account specifically for giving.) This gave ...
Over the years, I’ve seen many unique strategies implemented by savvy business leaders to leverage their generosity. The first strategy is donating appreciated assets like publicly traded stock to charity. Mike had been giving cash gifts to our ministry when he discovered a better way. He owned some stocks that had appreciated greatly that he considered selling. Instead, Mike donated ...
Martin Luther was quoted as saying, “There are three conversions: the conversion of the heart, mind and purse.” Many business leaders have heard sermons about being generous givers. But the numbers of those who have moved that concept from their minds to their wallets are few. Recently, a friend told me that his business had been on the verge of ...
While recently meeting with a wealthy family, I was impressed that the husband and wife were in town to take their two adult children to a training on how to be good stewards with the family’s wealth. The father told me that evening that the personal inheritance of his two children was going to be determined by how good they ...
Every year around April 15th, many new entrepreneurs receive shocking and unexpected news from their tax preparer. They owe a lot more tax than they have cash available. Why does this happen? When you receive a paycheck, taxes are withheld automatically, but as an entrepreneur you are paid a gross amount of money without accounting for taxes. The IRS wants ...
After recognition that you have started a business, the second business tip I would share with a new entrepreneur is to “Separate your business and personal funds.” When businesses start, many people begin depositing business income into their personal checking account. Further, they often start paying business expenses and personal expenses all from the same account. This causes many problems. ...
Equipping Others to Do Work Differently
