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. ...
“Stakeholder capitalism” encourages companies to be run for the benefit of all stakeholders, including customers, suppliers, employees, investors and communities. But what is a CEO to do when different stakeholders have different priorities? In today’s world, different stakeholders demand attention for the environment, racial injustice, and political issues, while expecting you to still run a profitable company. For Biblically grounded ...
Mackenzie Scott, Jeff Bezos’ former wife, recently announced that she is giving $2.7 billion to 286 charities. That’s on average almost $10 million per charity. Too often organizations who receive a large one-time gift find ruin when they add expenses based on the new gift, hoping to replace the funds in later years. Many businesses also find themselves in trouble ...
One of our core values at Unconventional Business Network is being open to God-sized possibilities. One way we apply that value is in our budget. Annually, we prepare two budgets, a “likely” one and a God-sized hopeful one. We want God to have room to do the impossible. In 2020, it seemed unlikely we could reach our likely budget for ...
Equipping Others to Do Work Differently
