NI GERI A

WORD OF FAITH BIBLE INSTITUTE

LAGOS

BIBLICAL
BUSINESS
STRATEGY
(BBS)
LEADERSHIP CERTIFICATE COURSE
The Labour of the foolish wearieth every one of them,
because he knoweth not how to go to the city . Ecc. 10:15

Copyright © by Word of Faith Bible Institute

38, Raji Oba Street, Iyana Ipaja,
P. O. Box 3459, Ikeja, Lagos, Nigeria
All Rights Reserved.
No portion of this Outline may be used without the written permission of the Institute.
 REFERENCES

1. TOWARDS EXCELLENCE IN LIFE & MIN. – Dr. David Oyedepo

2. UNDERSTANDING FIN. PROSPERITY - Dr. David Oyedepo
3. BREAKING FINANCIAL HARDSHIP -Dr. David Oyedepo
4. THE ENEMY CALLED AVERAGE - John Mason
5. MINDING GOD'S BUSINESS - Ray S Anderson
6. SUCCESS SYSTEMS - Dr. David Oyedepo

7. TOWARDS MENTAL EMPOWERMENT - Dr. David oyedepo

WOFBI, NIGERIA – Biblical Business Strategy 2

 COURSE OBJECTIVES
1. To bring students to the understanding that God is the origin of business
not against business.
2. To show that success in business is possible by the application of
biblical principles.
3. To destroy the erroneous concept that Christianity and Business cannot
mix.
4. To inculcate in students the vital principles for starting a business and
sustaining the success of that business.

WOFBI, NIGERIA – Biblical Business Strategy 3

 TABLE OF CONTENTS
REFERENCES 2
COURSE OBJECTIVES 3

LECTURE ONE
Lesson One Introduction 5
Lesson Two Origin Of Business 7
Lesson Three Biblical Business Perspectives 8
Lesson Four Principal Personalities In Business 9

LECTURE TWO
Lesson one How To Start A Business 10
Lesson Two How To Remain In Business 14
Lesson Three Covenant Secrets To Business Success 17
Lesson Four Kingdom Business Attitudes 18

LECTURE THREE
Lesson One The Place And Power Of Relationship in Business
19 Lesson Two Effective Management Systems
21
Lesson Three Business Stewardship 23
Lesson Four Avoiding Pitfalls In Business 24

WOFBI, NIGERIA – Biblical Business Strategy 4

 LECTURE ONE
LESSON ONE

INTRODUCTION

Success in business as in life is not a gift. It is not the exclusive preserve of

any race or clan. Acts 10: 34 -35
Then Peter started speaking: “I now truly understand that God does not
show favoritism in dealing with people, but in every nation the person who
fears him and does what is right is welcomed before him” (NET BIBLE)

You must choose to succeed and that choice generates in you the
momentum to succeed.
Principles of Scriptures are principles of life and when correctly applied
tremendous results follow. Joshua 1: 8.
As you apply Scriptural principles that make for success in the area of your
choice you are bound to make continuous progress Deut 30:19.
Life is a package of “how tos” and when you locate it, it must respond to
you. Eccl. 10: 15.
You don’t allow life to drift you about; you force results out of life! A strict
and consistent pursuit of the kingdom secrets will grant access into the
reality of outstanding success.

DEFINITIONS
Business
Any activity/ endeavour engaged in and is intended to yield dividend/profit -
whether, spiritual, material or financial.
Business > investments > Rewards
God is the greatest investor of all times - gave His Son Jesus Christ to reap a
harvest of souls into His kingdom (John 3:16)

Strategy
This is secret that make for success in any area of life's endeavour.
In warfare strategies rather than weaponry determine the degree of your
WOFBI, NIGERIA – Biblical Business Strategy 5
success.
A great strategy is a battle more than half won - Proverbs 24:6
It can also be defined as a detailed plan for achieving success in situations
such as politics, business, war etc.

Biblical
A) Scripture-based
B) Derivative of God's Word
C) Based on Bible principles

Success
This is a product. It is commanding good results successively i.e. making
satisfactory progress. A product results when material is processed in a plant
following laid down procedures. If you have the raw materials, the
manufacturing procedure and the processing plant you are set for
production.

WOFBI, NIGERIA – Biblical Business Strategy 6

 LESSON TWO

ORIGIN OF BUSINESS
From the definition of business, it is clear that our life and time must be
geared towards an activity with the aim of making profit before it can be
said to be meaningful and worthwhile. Else God’s investment in creating
man would have been defeated. God supported this submission by the
records in Genesis 2:7, 8, and 15. Immediately God made man and give him
life he engaged him without any delay. He gave him what to be busy doing
i.e. investing time, resources, energy etc. So, innate in man is drive for
business, so can be concluded that God is the origin of business. That is
Business is of God

And the LORD God formed man of the dust of the ground, and breathed
into his nostrils the breath of life; and man became a living soul.

And the LORD God planted a garden eastward in Eden; and there he put
the man whom he had formed.

And the LORD God took the man, and put him into the garden of Eden to
dress it and to keep it.

JESUS’ SUPPORTIVE TEACHINGS ON THE ORIGIN AND GOD’S

STAND ON BUSINESS. LK. 19: 12-26

 Christians must be occupied, busy and engaged in what brings profit.

 Must be accountable to God, because business is God’s idea and the
rightful owner.
 Rewards your business success
 Frowns at indolence in business

BIBLICAL EXAMPLES OF BUSINESSMEN TO PROOF THE

GODLINESS OF BUSINESS:
Abraham Gen. 13:1-3, 7; 24:1
Isaac Gen.26:12-22
Jacob Gen. 29:15
WOFBI, NIGERIA – Biblical Business Strategy 7
Moses Exo. 3:1
Jesus Lk. 2:49; John 4:34
GOD Gen.2:1-2, 8,15; John 3:16

LESSON THREE

BIBLICAL BUSINESS PERCPECTIVES

Your perspective in any area of life is informed by your thought life and
your thought life tells what you are. Prov. 23:7

Sound biblical perspective will produce the right Christian attitudes or

habits towards business and how to handle it.
Business success is worked at. It is learned and developed. Is. 48:17; Prov.
9:9
Facts and knowledge are very relevant. Seek relevant information.

1. It is in God’s heartbeat that you make it in life 3 John 2

2. Business breakthroughs are enforced. Be determined to contend and
defeat oppositions – Deut. 2:24; Ps. 66:3
3. Your breakthrough is determined by your knowledge and
understanding of
a) God’s word that relates to your business
b) The business – Are you in the right business?
c) The environment – constant scanning of the environment is
necessary for your information to remain current.
4. Locate God’s provision for success in business – 2 Peter 1:3
5. Your strategies must biblical, irrespective of what your business
associates do to “succeed” – 1 John 5:4
6. You must be born again to reap the benefits of these principles of life.
Being born again
a) Grants you access to the secrets of God – Ps. 25:14
b) Releases in you the mind of Christ – 1 Cor. 2:16
c) Grants you access to helps by the Holy Spirit – your Teacher and
Guide – John 16:13; John 14:26

WOFBI, NIGERIA – Biblical Business Strategy 8

 LESSON FOUR
PRINCIPAL PERSONALITIES IN BUSINESS
Until you know and understand all about THE PERSONS involved in
business and there roles you can’t competently strategize for success in
business. The knowledge of the personalities that are involved in any
business and how to relate with each, will give the necessary platform to
build a formidable business and success becomes inevitable. These
personalities are:
1. God 2.You 3.The Business

HOW TO RELATE WITH EACH PERSONALITY

 GOD
a. God must be given His place as the origin and owner of the business. He
must have the say in that business. He must be consulted on any matter as
regards the business and decision taken as per his counsel.
b. He is the one to whom you are accountable either as an employer or as an
employee.
c. Must be given the tithe of the land-the business. Lev. 27:30
“And all the tithe of the land, whether of the seed of the land, or of the fruit
of the tree, is the LORD's: it is holy unto the LORD”
d. the business must be a plus to the His Kingdom and its expansion.
Hag.1:2-11
 YOU
a. You are only a caretaker of that business.
b. You are answerable to God and accountable to him.
c. Take care of yourself from the business. Pay yourself (if running a
business). Fix a monthly pay or place yourself on a percentage (that is
reasonable and healthy for the business)
d. Improve you skill to better your output and invariable your personal
income.
e. Lead by example. Show to all how you what them to work by how you
work. Show the kind of commitment you demand from your employees.
 THE BUSINESS
a. Must the regarded and respected. 1Tim 5:18, Deut. 25:5
WOFBI, NIGERIA – Biblical Business Strategy 9
b. Must be catered for by having a continuous program of expansion for it.
c. Larger chunk of the income i.e. balance after God and you and other
employees have been taken care of must be geared towards the business
expansion. That is, building up the capital and asset base, workers training
program etc.

LECTURE TWO
LESSON ONE

HOW TO START A BUSINESS

There are basic requirement and steps to take in starting any business
enterprise. This segment will provide those already in business a premise to
enable them reinforce their foundation or review and evaluate their current
business undertaking.
The importance of non financial and material resources like Time
Management, Risk etc as essential factors in business success cannot be
overemphasized.
The requirement for starting any business venture is not the acquisition of
capital. Here are some foundational requirements:
 VISION
This is insight into God’s plan for your life. Divine insight into God’s plan
and purpose for your life.
Finding out and knowing God’s plan for you provides a strong source of
inner strength. Things to note about vision

1. Your vision needs to be acquired, defined and applied – Hab. 2:1-3.

Define it in a manner that you are understood so that it can be effective in its
pursuit.
2. Vision provides a defined destination. It is your ticket to take you to
God’s original purpose for your life – 2 Tim. 4:7
3. Vision is forsaking your good idea for the purpose of finding His (God’s)
idea for your life.
4. Your vision will help to channel your energy and resources well.
5. Your vision will give you hope (an inner boost). The best of your plan is
not equal to the least of God’s plan for you. Jer. 29:11
6. When a vision is from God, there will be a strong desire to make it
happen even if you cannot see how you will achieve it. Vision is
compulsive.
WOFBI, NIGERIA – Biblical Business Strategy 10
Vision births Idea, Idea births Action and Action Result.
7. A God-given vision is satisfying.
8. Once you catch the vision mix it with faith – Heb. 4:2
Faith in God – Heb. 11:6
Faith in the vision – Phil. 1:6
Faith in yourself – Heb. 2:4
9. Handle your vision in piecemeal. Break it down into actualisable portions
Mark 4:28. Life is in phases, men are in sizes.
VALIDATION – Confirm your vision in prayer to God. This is the point of
being fully persuaded – Point of conviction. (Heb 10:23)

 FOCUS (Matt. 6:22 Matt. 5:24, Phil. 3:13)

Focus is abiding with the God-given vision no matter what (1Cor. 7:20)
To be focused is to concentrate on vision. This breeds distinction.
When you loose concentration you begin to see obstacles and mountains.
To maintain focus give attention to only what is expedient.

DIRECTION – CONCENTRATION = DISTRACTION

OBSTACLES ARE THE THINGS A PERSON SEES

WHEN HE TAKES HIS EYES OFF HIS GOAL.

SET A HIGH STANDARD; BUT START SMALL

Begin small (Job 8:7; Zech. 4:8-10)
“If you jump up, you will fall down, but, if you
grow up, you will stay up.”

 INTERACTION (Prov. 13:20)

Relate with like-minded, take advantage of the relationship.
Surround yourself with people who have results to show
Ask questions
Reject bad company (1Cor. 13:33)

 CRAVE FOR REQUISITE KNOWLEDGE (Hos. 4:6 ; Prov. 24:3-4

TLB)
Knowledge is power.
Locate facts by consultations – either from books, magazines, journals or
person to person (Dan. 9:2)
WOFBI, NIGERIA – Biblical Business Strategy 11
Take advantage of technology.
Be humble, be teachable (Ps. 25:9). It takes meekness to contact knowledge
(Matt.11:29)

 PLANNING (Prov. 24:3-4 TLB)

Plans are steps or actions to be taken to achieve a desired goal.
Planning is to winning just as breathing is to living.
Planning empowers purpose to deliver. Therefore, purpose is impotent
without planning. Heb. 3:4 – every house is built by someone ---. Good
management guarantees good result. The quality of management determines
the quality of result.
Praying without planning is playing without knowing. Planning without
praying is living in the woods.
 The facts at your disposal determine the quality of your plan.
 Planning is a step by step approach to accomplishing a set goal.
 It is the ordering of your priorities in a bid to accomplishing a given
task.
 It is a process of action in a quest to fulfill a dream.
 It is the tool responsible for connecting thoughts into action.
 It is reasoning.
 It is the bridge that links dream and achievements.
 It requires a study of the relevant facts.
 Planning is the shortest road to lasting success
 It is productive projections for the purpose of successful
implementation.
 Planning is preparation (2 Chron. 27:6) Jothan became mighty
because he prepared his way before the Lord.

ATTRIBUTES OF A PLAN
 Must be specific.
 Measurable – quantifiable
 Attainable
 Realistic
 Timely or time based
12 months - short term
1 year to 3 years - medium term
3 years and above - long term
 Must be written

WOFBI, NIGERIA – Biblical Business Strategy 12

  Planning must be objective and achievable otherwise it will end in
frustration (Ps. 131:1)
 It requires studying the relevant facts objectively.

WHEN YOU FAIL TO PLAN,

INVARIABLY YOU HAVE PLANNED TO
FAIL.
ADVANTAGES OF PLANING
a) goals are achieved more quickly
b) time is saved by concentrating on the important tasks and objectives
In planning
i. Be perfectly honest with yourself
ii. Dare to think big
iii. Take actions / steps
iv. Believe in your plans
v. Engage your mental faculty in reasoning and make continuous
progress.

ENEMIES OF PLANNING:
1) Looking out for someone else to blame.
2) “I don’t have enough” syndrom
3) Walking with purposeless men
4) Lack of value for time.

WOFBI, NIGERIA – Biblical Business Strategy 13

 LESSON TWO

HOW TO REMAIN IN BUSINESS

This segment will provide a framework for continuity and sustained success
for starters in business and those already in it,.
It will also show how never to experience a dry season in their business by
application of scriptural principles.
95% of one man business dies after 5 years. 99% die after 10 years.

SECRET TO REMAINING IN BUSINESS

1. PROMPT ZEALOUS APPROACH TO LIFE (Prov.4:18)

2. CHARACTER (Prov. 28:20, Prov. 22:1)

 Character is what keeps speaking for you long after the customer
has left you.
 Character = Faithfulness, Integrity, Accountability,
Reliability, Responsibility, Adaptability, Loyalty.

CHARACTER IS WHAT YOU DO IN THE DARK

 Character is not a gift, it is developed (Heb.5:14 ; ! Tim. 4:7).

3. TAKE RISKS (not gambling) Prov.22:13

Taking risk is all about breaking new frontiers and effecting positive
change.
Taking risk is taking steps that will bring about change and subsequent
growth.
 Challenges present us with new opportunities for self-expression, for
reaching our goals, for exercising our mind – David & Goliath
WOFBI, NIGERIA – Biblical Business Strategy 14
  The key to the unknown is change
 Change is the key essence of the spirit of adventure. Success in any
endeavour is the effect of series of creative changes in the right
direction.

RISK EVALUATION
1. Obtain all the facts you can
2. Get advice and input from people who you know can be helpful – Pro.
24:6
3. Try to minimize as much as possible the obvious risk involved.
4. A man of Wisdom will investigate facts with the relevant knowledge at
his disposal to minimize his risk – Pro. 24:5
5. Your judgment on what to do becomes your calculated risk.
6. Even after arriving at your calculated risk, hard work is required.

In Taking Risk:
(a) You may not see the end from the beginning but you can use your eyes
of Faith.
(b) Only he who never tries never makes mistake
4. TIME MANAGEMENT (Eccl. 3:1; Eph. 5:15-16; Col. 4:5)
Time is the currency of life. It is the asset of equality.
- 1 year = 8760 hours only!
TIME WASTED IS LIFE WASTED.
Load your time with priorities and expediencies.
Set deadlines for every of your task.
Take advantage of time to read and listen to tapes – fill up the vacuum of
your life.
The problem is not with having enough time available but in using correctly
the time available.
Some Time Wasters:
 Telephone interruptions
 Visitors
 Meetings (both scheduled and unscheduled)
 Fatigue and lack of self discipline

5. PERSISTENCE (PERSONAL POWER) - 1 Cor. 15:58

This is resisting opposition (James 4:7)
WOFBI, NIGERIA – Biblical Business Strategy 15
It is refusing to give up. (Gal. 6:9; Gen. 26:18-22)

6. SENSE OF HUMOUR (Prov. 17:22)

Every time your spirit is broken, your business starts to break
Remember, the state of your heart will influence the state of your face (Prov.
15:13-15).
Always rejoice. Learns to create an atmosphere of joy always.

8. DILIGENCE (Prov. 22:29)

Diligence implies skill, aptitude, ingenuity, competence and excellence.
It is not just hard work but purposeful, result-oriented hardwork.
Diligence is not just a goal, it is a life style.

NOTHING WORKS UNTIL YOU WORK IT

9. DISCIPLINE (Prov. 25:28; 1COR. 9:25-27; 2Tim.2:4; Heb.12:1)

Discipline is doing what is commanded and not what is convenient.
It is taking care of the flesh. (Rom. 8:13)
It is submitting to the demands of success; Time, Finance, Materials, men.
 Be careful with sleep, food, pleasure, etc.
 It is having a sense of value.

10. DEDICATION
This is deadly commitment (Jn. 12:24)
Commitment has a price, be ready to pay it.

WOFBI, NIGERIA – Biblical Business Strategy 16

 LESSON THREE

COVENANT SECRETS TO BUSINESS SUCCESS

These are things that make for extra ordinary success in business. They are
hidden (Prov. 25:2; Deut 29:29)
But using Job as a case study the following secrets were found as the reason
for his unusual in success in business.God no respecter of persons, if it
worked for Job it will work for the saints. (Act 10:34; Rm. 10:12)

Case study on Job– (Job 29:12-17)

 Be righteous. Prov. 11:4-6; Prov. 14:34; Ez. 14:20
 Help the poor. Ps.41:1;Prov. 21:13; Prov.19:17
 Help the fatherless. Ps.10:14
 Help the widow’s heart to sing for joy. Ps. 146:9
 Be eyes to the blind and be legs to the lame.
 Never take advantage of people.
 Never condone wickedness and evil. Ps.15:4; Prov.24:24-25
 Live a sacrificial life continuously. Job 1:5; Gal. 6:9

WOFBI, NIGERIA – Biblical Business Strategy 17

 LESSON FOUR

KINGDOM BUSINESS ATTITUDES

1. God is the sole owner of the business. (Ps. 24:1)

2. Working habits should be dignifying (Ps. 104:24-25)

3. Business must be given a serious approach always. (Lk. 2:49)

4. Place value on your job, respect your job and be proud of it.

5. Let your appearance and speech command respect from all

You will first be judge by how you look and what you say.

6. Always give glory to God. (1 Cor 10:31; Ps. 44:3)

7. Appreciate others (Phil. 2:3)

8. Be a man and a woman of INTEGRITY.

9. Have a joyful disposition. Joel 1:12

WOFBI, NIGERIA – Biblical Business Strategy 18

 LECTURE THREE
LESSON ONE

THE PLACE AND POWER RELATIONSHIPS IN BUSINESS

“Follow peace with all men, and holiness, without which no man shall see
the Lord:” Heb. 12:14

In business the audience or target is people- men and women, so relationship

directly or indirectly is unavoidable. This subject is so powerful that our
level of holiness will be placed on the balance and weighed alongside our
relationship with all concerned.

Our business life is like a wheel with five spikes:

1. Financial – clients, customers, employee-employer relationship, career.
2. Spiritual – relationship - with God, with your local church
3. Phsical – relationship with yourself, your health
4. Social – relationship with your community, society, government,
professional bodies.
5. Family

 Business is relationship because no man is an Island.

 Relationship is human interaction.

LIFE BEGINS WITH MEETING.

- Martin Buber

WOFBI, NIGERIA – Biblical Business Strategy 19

RELATIONSHIPS IN BUSINESS INCLUDES THE FOLLOWING

1. Relationship with God. Matt. 6:3, James 4:8; 2Chron. 15:2

2. Relationship with self. 1 Tim. 4:16; Acts 20:28
Your ability to get along with other people is an indication of who you are
and how you feel about yourself.
Get to know yourself in the following areas: - Spiritual, Mental, Physical,
Family, Career, Financial and Social.
3. Relationship with family Eph.5:22-23; 1 Pet.3: 1-7, 1Tim.3:5, 1 Tim5:8
Find time for your spouse. (1 Cor. 7:3-5)
4. Relationship with the Church. Heb. 10:25 1 Pet. 3:13
Any business that draws you away from fellowship is not of God.
FOLLOWERSHIP IS SUPERIOR TO MEMBERSHIP.

5. Relationship with employee/employer

Relate with your employee in love. (Eph. 6:9; Gal. 5:22-23)
Operate a sincere rewarding and salary system. (1 Tim. 5:18; Lev. 19:13;
Deut. 24:15; Jer. 22:13)
Work faithfully. (Lk. 16:10-12)

6. Relationship with clients and customers (Rm. 13:7-8)

Don’t be an opportunist. Do not take them for granted.
Beware of excessive gain! Be patient, forbearing and loving.
Don’t take undue advantage of your clients and customers
7. Relationship with the society and community
What influence does your business have on your environment?
What reports do the people around have of you? Prov. 15:13; 1Tim. 3:7
8. Relationship with professional bodies and government. Rom. 13:1-7
Christian identity is built on the foundation of being law abiding. Matt.
17:24-27
Professional dues and taxes must be paid as at when due. (Rom. 13:7)
Contribute as much as possible without compromising or jeopardizing your
faith.

WOFBI, NIGERIA – Biblical Business Strategy 20

 LESSON TWO
EFFECTIVE MANAGEMENT SYSTEMS
Management is the planning, organizing and controlling of events, business
or organization to achieve its objective.
MANAGEMENT PRINCIPLES OF JESUS
Jesus was so organized and this contributed to the early accomplishment of
his goals.
He employed Management principles that helped him achieve his objective
in record time. These are applicable to our businesses and they are:
a) He had an executive selection process – Luke 5: 1-11.
b) He had organizational structure and hierarchy.
c) He had principal officers - Peter, James and John.
d) He had a succession plan – Training
e) He practiced the principle of delegation – Luke 9:1
f) He was guided by his vision – Luke 2:49
g) He motivated his team members by giving them challenging tasks –
Luke 10:1
h) He was involved in constant appraisal of his plans with actual results.

2) ADVANTGES OF GOOD MANAGEMENT

 It confers decency and order – I Cor. 14:18
 Management is about decision.
 Have a Management structure no matter how simple.
 Taking decision is taking responsibility
 It is a key tool for sustaining the success of a business.
WOFBI, NIGERIA – Biblical Business Strategy 21
  Current information is the foundation for correct decision – be
analytical.
 It is your decision not your condition that determines your
destination.
 It takes a sound mind to make a sound decision.

MANAGEMENT AND DECISION MAKING:

Management is all about choosing between alternative causes of action. That
is decision making and continuous decision making. Indecision is a plague.
God is a great manager, made decision as to the process of creation and
sustenance of the universe. The end product of management is sustenance.

SOME VITAL DECISION MODULES:

 Finding and retaining competent people.
 Leadership and Teamwork
 Skill for Managing Change

ORGANISING FUNCTION OF MANAGEMENT – Key Area

1. Delegation Case study: Exodus 18: 13 -26
Delegation is entrusting authority to somebody to perform a task and
making the person responsible for the action.
It is a vital tool for effective organizing. It helps build up subordinate.
2. Communication 1 Cor. 14:7-9
Communication is transfer of information with understanding.
It can be verbal, non-verbal or written. Can also be classified as formal or
informal. Formal communication is best suited for a business environment
i.e. Memos, clear job description etc. In doing this:
 Mind your language.
 Make useful information available as and when due to avoid “office
grapevine”
 Carry the people along with the vision of the business. Ex. 35:5
 Create a mission statement with a slogan.
3. Innovation – Creative Changes
Innovation may mean creating, regenerating, replacement, transfer,
exchange etc. Creativity begins with questions.
 Every innovation manifests in change.
 Every growth is characterized by change.
WOFBI, NIGERIA – Biblical Business Strategy 22
  It does not have to be a big change to affect a big result – there are
always small angles to big differences.
 Embrace the principle of repackaging – There is nothing new under
the sun.
4. Motivation
Motivation is getting somebody to do a job and to enjoy doing it. God had
to motivate Elijah when he found himself under the juniper tree by
providing him food and water via a ravine.
 A management system that lacks motivation will always produce
frustration.
 When you spice information with motivation business gets better.
 In the midst of adversity, motivation is a management tonic.1Sam.
30:6
 Operate management by example.
LESSONTHREE
BUSINESS STEWARDSHIP
Luke 19:12-24; I Cor. 4:1-2

Accountability is the hallmark of stewardship. Accountability demands

maintaining verifiable records. This virtue makes you fruitful.
When you are productive and fruitful God raises you. God multiplies you.
The fruitful he prunes so that they can bear much fruit – John 15:2, I Cor.
4:1-2.
RECORD KEEPING
Maintain simple books of Account from the inception as this will give
you base for financial planning.
Jesus maintained financial records. He had a treasurer.
EVERY BUSINESS MUST MAINTAIN:
 Cashbook
 Bank Accounts
 Receipt slips
 Hire professionals to assist you.
 You must maintain creditable and reliable records.

WOFBI, NIGERIA – Biblical Business Strategy 23

 LESSON THREE

AVOIDING PITFALLS IN BUSINESS

1. Consolidate before you expand (Jesus Expansion Principle).
2. On Debt Capital financing – Borrowing.
 Weigh the cost and benefits. The cost can be very high.
 Weigh the alternatives – Deut 2:8
Ploughing back your profit when business is making consistent stream of
profits. Over the years you could provide finance for much
needed expansion rather than borrowing to expand. It is a choice you make.

3. Partnership: Important decision – a “visionless” partner can ruin the

business. People who have long term perspective to business, not just
immediate profit motivation should be considered. Consideration for
partnership should be done with utmost sense of responsibility.

4. Employ proper business process. Legal requirements must be fulfilled.

Nothing must be taken for granted. The man who came to Jesus and said I
want to work for your company, Jesus spelt out the terms as to leave him
without any doubts Luke 18:22.

5. “Don’t hire persons you can’t fire” This is the personnel selection and
disengagement axiom. Employment of staff should be based on need at each
stage of growth. If you employ more persons than you require, the business
WOFBI, NIGERIA – Biblical Business Strategy 24
finance will be adversely affected. Have the organizational structure or job
schedule at start. This will be a good guide for Personnel management.

REVISION, QUESTIONS AND ANSWERS

WOFBI, NIGERIA – Biblical Business Strategy 25