Market place facts: Foundational lessonsMarket place facts: Foundational lessons
MARKET PLACE FACTS
FOUNDATIONAL LESSONSModule 403 A
Mario Denton
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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.
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
Ten Lessons for Every Business Leader
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
Ten Lessons for Every Business Leader
What are the Ten Foundational Concrete Lessons for a young
entrepreneur?
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
1. Keep your spouse informed
Get your wife/husband on board
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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)
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
2. Gather an Inner Circle or Counsel of Advisors around you
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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)
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
3. Treat your employees like family
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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.
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
3. Treat your employees like family
• 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
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
4. Get out of the office and visit your customers
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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)
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
5. Respect your vendors
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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)
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
6. Make timely and accurate accounting a priority.
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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)
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
7. Put all agreements with your fellow shareholders and executives in writing
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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.
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
7. Put all agreements with your fellow shareholders and executives in writing
• Settle all disagreements as quickly as you can without the time and expense of going to court. (Luke 12:58)
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
8. Make friends with your competitors
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
8. Make friends with your competitors
• Learn from them. • You will be a better business leader
if you are watching and learning from them.
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
8. Make friends with your competitors
• They may become useful acquisitions or alliance partners. (2 Samuel 7:1)
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
9. Be generous with your profits
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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.
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
9. Be generous with your profits
• Caring and generous leaders attract followers. (Proverbs 11:25; 22:9)
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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.
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
Be accountable
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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)
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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.
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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)
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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.
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
Jesus said: Take what I have given you and change the world!
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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.
Market place facts: Foundational lessonsMarket place facts: Foundational lessons
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
Top Related