403 A Foundational lessons

Market place facts: Foundational lessonsMarket place facts: Foundational lessons

MARKET PLACE FACTS

FOUNDATIONAL LESSONSModule 403 A

Mario Denton

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Overall purpose of this series on Marketplace

To understand and learn from various marketplace facts so that you can: • Be more effective and anointed wherever you are in the marketplace.

• Adapt and benchmark your marketplace practices and principles discussed in this series.

• Use these material to facilitate the work of evangelism.



Ten Lessons for Every Business Leader



Ten Lessons for Every Business Leader

What are the Ten Foundational Concrete Lessons for a young

entrepreneur?



1. Keep your spouse informed

Get your wife/husband on board



1. Keep your spouse informed

• Include him or her in every major decision, especially the key personnel issues, including hiring.

• Make family time and vacation time a priority.

• Get alone regularly to think, have some weekends with your spouse, and enjoy time with your children before they grow up and afterwards. (Proverbs 19:14)



2. Gather an Inner Circle or Counsel of Advisors around you



2. Gather an Inner Circle or Counsel of Advisors around you

• Let them have your best interests at heart, are not involved in your business, and will ask you the hard questions.

• Choose people who will be there for you in times of stress when you need wisdom and encouragement. (Eccl. 4:9-12)



3. Treat your employees like family




• Be genuinely concerned for their welfare.

• Hire slowly and fire quickly. • Remember that attitude is far more

important than ability. • Get the right people into the right

spots.




• Find out what each person is passionate about and find the right fit for him or her in your company.

• The best way to attract the right people is to create a strong company culture.

• Relationships provide the true foundation for all of your success in the marketplace.(I Kings 7:14



4. Get out of the office and visit your customers



4. Get out of the office and visit your customers

• Take advantage of conventions and trade shows.

• Listen to what your customers want and need.

• Solve their problems, and they will make you successful.

• Keep your promises to them whatever it costs. (Eccl. 7:5)



5. Respect your vendors



5. Respect your vendors• Develop true partnerships with

them. • Pay your bills on time and do not

take advantage of them. • They can become key allies with you

in getting new customers. (2 Kings 4:7)



6. Make timely and accurate accounting a priority.



6. Make timely and accurate accounting a priority.

• Understand your margins, break even points, and fixed and variable expenses.

• Keep a close watch daily or weekly on your cash flow.

• Become an expert on pricing. • Build your business on profits and

prudent use of debt. (Proverbs 27:23)



7. Put all agreements with your fellow shareholders and executives in writing




• On one page you should be able to clarify the key points of your understanding.

• Clear understandings at the beginning will help you to avoid most lawsuits.




• Settle all disagreements as quickly as you can without the time and expense of going to court. (Luke 12:58)



8. Make friends with your competitors




• Learn from them. • You will be a better business leader

if you are watching and learning from them.




• They may become useful acquisitions or alliance partners. (2 Samuel 7:1)



9. Be generous with your profits




• Particularly with your employees and your community.

• Help your employees to save for the future and share in the rewards of the company’s success.




• Caring and generous leaders attract followers. (Proverbs 11:25; 22:9)



10. Value input from other leaders

Be involved in a regular small group of business owners or

executives from which you can learn much and be held

accountable.



Be accountable



10. Value input from other leaders

• Practice the habit of continual learning and give your life to the next generation of leaders.

• (Proverbs 19:20)



Conclusion: • Regardless of your service or product, these

ten foundational truths will help keep you on the right path as a leader.

• Without values and peer relationships, you as a leader will not survive the challenges of the marketplace.

• But, with a strong foundation and peers who care, you will be able to withstand any attack upon you as a leader or upon your firm.



Prayer Focus• Father, In the name of Jesus, I

surrender myself to walk in the Word in the marketplace. Your word living in me produces the Life in this world.

• The word is a lamp to my feet and a light to my path. It makes my way plain before me.

• I boldly and confidently say that my heart is fixed and established on the solid foundation – the Living Word of God! Amen



Learning, application and commitment: James 1: 22-25

• “Do not merely listen to the word, and so deceive yourselves.

• Do what it says. • Anyone who listens to the word but does not do

what it says is like a man who looks at his face in the mirror and, after looking at himself, goes away and immediately forgets what he looks like.

• But the man who looks intently into the perfect law that gives freedom, and continues to do this, not forgetting what he has heard, but doing it - he will be blessed in what he does.” (NIV)



Learning, application and commitment

• One of the principles that I have learned from this lesson was …

• I intend to apply this principle in my marketplace by: …..

• With the help of the Holy Spirit, I will begin applying this truth immediately.



Jesus said: Take what I have given you and change the world!



Sources and acknowledgementCHRIST@ WORK NEWSLETTER

• Copyright Notice• © 2005 FCCI- Limited permission to copy without altering text or

profiteering is granted subject to inclusion of this copyright notice. Copy is limited to member and/or FCCI small group use.

Unauthorized use of FCCI, Christ@Work, Crown Companies, their trademarks or logos is strictly prohibited.

• The “Facts of the Matter” is also available through the Internet: www.factsofthematter.org. 2003 R. Dwight Hill.

• Slides compiled by Mario Denton. • Please commit yourself to inform us of the results regarding the

effectiveness thereof should you wish to use this material.



Let's keep the good marketplace vibes alive. Let's network.

Become a member of the Crown Companies Marketplace Coaching Forum.

Tel (w) + 27(0) 82 88 29903. e-mail address:[email protected]

Website: www.crown.org.za

Blessings from Dr Mario Denton as the Africa: Continental Program Director - Marketplace


403 A Foundational lessons

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