In the Philippines, 80 percent of the businesses are family-owned and controlled. *1 In fact, the annual average of 3.9 percent every year grows from every region. How do they established their business and run their business? A few years ago, I attended a family and finance conference and I learned a lot about how you should properly run your business that would last a lifetime.
What are the Rules?
In every game, there are rules, such in every business as well. When there is no rule people perish. Thus creating the right environment that follows a rule to make a long-lasting business. In order to have a successful business, the following pointers were shared by the speaker at that conference and I am happy to share this information with you guys.
1. Shared purpose and values –
The business that creates a shared purpose with the employees are more profitable.
“The Purpose of business for both the Christian and non Christian business leader often looks the same…to maximize profits.” Bruce Wilkinson
2 Corinthians 6:14 14 Do not be bound together with unbelievers; for what
partnership have righteousness and lawlessness, or what
fellowship has light with darkness?
2. Put People First –
The employees are mere cogs in the wheel, automations with no heart and minds that exist. The SeaOil company aims to create a norm in the workplace by caring for employee’s emotional wellbeing, says the CEO Glen Yu.
“ I’m more interested in people than I am in how business work” Peter Drucker
3. Have Plan and Process –
Create a system that works is the core of every business. This is coupled with agreement amongst its employees and management.
The following are the necessary key takeaways to establish the business:
- Code of Conduct
- Employment / participation
- Investment Policy
- Conflict of Interest
Exodus 18:15-16 15
Exodus 18:15-16 15 Moses answered him, “Because the people come to me to seek God’s will. 16 Whenever they have a dispute, it is brought to me, and I decide between the parties and inform them of God’s decrees and instructions.”
Exodus 18:21 But select capable men from all the people—men who fear God, trustworthy men who hate dishonest gain—and appoint them as officials over thousands, hundreds, fifties and tens.
4. Play – Don’t forget to have fun.
A happy employee tends to work efficiently on their daily task. So, they create blissful activities much like a family fun day that would encourage bonding among a few leaders.
There is nothing better for a man than to eat and drink and tell
himself that his labor is good. This also I have seen that it is from
the hand of God. Ecclesiastes 2:24
At the end of the day, the owner of the business is God, as God owns everything, we are the only caretakers of the business that was entrusted to us. Furthermore, as the psalmist says in Psalm 24:1 that “the earth is the LORD’s, and everything in it, the world, and all who live in it.” In however we create business lets remember these pointers and I am sure your business will go farther.
I have an additional take away on this topic. You know that I am an advocate of financial literacy for every Filipino people. I know that in this country we only have at least 1 percent of businesses who encourages employees to be socially and financially literate when it comes to finances . I am looking for opportunities to share with you my insight on how we can gain favorable knowledge on how you can start good looking finances.
So if your business has not ventured to this commitment, I am conducting FREE financial literacy sessions to your employees through our program Road to FINANCIAL FREEDOM. Feel free to reach me through my email address firstname.lastname@example.org or reach me directly on my phone number 639088185812. I would gladly accommodate your inquiry.
Reference: 1 https://bit.ly/39NQUyB 2. Glen Yu, Family & Finance 2018.
Hi, my name is Jack Marbida, I am a financial advisor from Sun Life Financial for over 4 years now. My goal is to help thousands of Filipino people understand and embrace the spirit of financial preparation through our program, “Financial Freedom”. I know you need help but you just don’t know where to start. Allow me to help you establish a brighter future. Click here for more information. Check what I have been doing here.