Biblical Principles for Entrepreneurs | 7 Fascinating Facts
Estimated reading time: 11 minutes
Entrepreneurship is often viewed as an exciting adventure, a journey filled with risks, rewards, and the pursuit of dreams. For Christian entrepreneurs, this path can be enriched by faith, resilience, and a deeper understanding of biblical principles. In this blog post, we will explore seven fascinating facts about entrepreneurship, drawing parallels with the adventurous spirit of faith and risk-taking. We will also include Bible verses and inspirational quotes that resonate with biblical principles for entrepreneurs.
Introduction to Biblical Principles for Entrepreneurs
I have started 8 businesses. Six of them “failed”. I added quotations to “failed” because while they are no longer in existence, they each served a purpose during a specific season of my life.
Caddis Investment Group
I launched this business in 2016 with two high school buddies. It was my first business to ever start. Ironically, it is one of the two businesses that remains active to this day, more than eight years later. This business was launched as a multi-family investment platform. This began as a fun way to begin investing in apartment complexes. Eight years later, we’ve seen over 10 exits, and we continue to invest to this day.
Rental Properties
This was a business my wife and I started in 2017. I had always had a dream of accumulating rental properties for passive income. Little did I know passive income was non-existent. 3 properties and tens of thousands of dollars on repairs later, we sold our three properties and moved on from that world.
Ascent Petroleum
This was a business I was asked to join in an operational role in 2018. While the four partners were all great dudes, the business never really got off the ground for multiple reasons. We ended up closing down about 6 months after we launched.
RV Ready
I started this business with some family members in 2019 renting and managing RV rentals for ourselves and a few others. This was a fun business to be a part of, but as seasons changed our desires to continue keeping up with the day to day waned. We ended up closing down about 2 years after we launched.
Tres Padres/Peak Land Ventures/Summit Land Group/Landfunders
My partner and I launched these 4 businesses in 2020. Yeah, that 2020. Covid 2020. Each business was designed to carry a different role in the real estate segment of land investing. After 4 years, we are on the verge of shutting three of these down. Only Summit Land Group will remain moving forward.
Why do I mention each of these businesses? Every single one of them played a part in determining the 7 facts you will find below. None of them were unique. Had I known what I know now, I likely would not have started half of those businesses. Hindsight is always 20/20, right?
The glass half full side of this story is that every single business produced some sort of positive result in the end. I will never stop starting new things. New things are exciting, risky, adventurous and, if done properly, can result in financial gains, personal fulfillment and purpose, and bringing something to the table that the world needs.
So let’s dive into these seven biblical principles for entrepreneurship.
1. There Are No Guarantees
Statistics show that 90% of businesses fail in the first year, and 95% within the first three years. While these numbers can be daunting, they also highlight the importance of perseverance and the need to become an outlier. The Bible encourages us to step out in faith, even when the path ahead is uncertain.
“For we walk by faith, not by sight.” – 2 Corinthians 5:7 (ESV)
To become an outlier, one must embrace the uncertainty and commit to continuous learning and adaptation. This requires not only practical business strategies but also a deep trust in God’s plan and guidance.
If guarantees in business existed, every person on the planet would be an entrepreneur in some capacity. Unfortunately, this is now how the business world works. We have to endure the pain of failures on our journey towards that successful business we are attempting to achieve.
2. You’re On Your Own
Entrepreneurship demands taking full responsibility for all decisions, results, and consequences. This autonomy can be both empowering and daunting. However, it also means you have significant control over the success or failure of your business.
“Commit to the Lord whatever you do, and he will establish your plans.” – Proverbs 16:3 (NIV)
Being on your own doesn’t mean you are truly alone. God’s presence provides a foundation of strength and wisdom, guiding your decisions and helping you navigate challenges. That being said, it can be a very lonely feeling when you’re attempting to start a business. Having a mentor or a spouse to provide encouragement for those down days is essential.
3. You’ll Have Doubters
Many entrepreneurs face skepticism and discouragement from others, often stemming from jealousy or a lack of understanding. It’s crucial to stay focused and believe in your vision. Many people do not want to see you succeed for a multitude of reasons. One of the most common reasons is out of sheer jealousy. There are doubters that desire your demise just because they simply do not have the wherewithal to go on an adventure of your own.
“Do not be misled: ‘Bad company corrupts good character.’” – 1 Corinthians 15:33 (NIV)
Surround yourself with positive influences and mentors who support your journey. Brush off the negativity and stay anchored in your faith and goals.
4. It Costs Money You Don’t Have
Starting a business often requires significant financial investment, which can be a major hurdle. Many entrepreneurs find themselves lacking the necessary funds to sustain their ventures through the early stages. Whether we decide to pull money from savings, get a short term loan from a family member or pursue credit cards to launch a new venture, most of the time we do not have enough financial backing of our own to launch a new business.
“The plans of the diligent lead to profit as surely as haste leads to poverty.” – Proverbs 21:5 (NIV)
Create a detailed financial plan, seek wise counsel, and be prudent with your resources. Remember, God is your provider, and with diligent planning and faith, you can find the means to support your business.
5. Your Dream May Not Work Out
The reality is that not all entrepreneurial ventures succeed. It’s essential to confront this possibility and weigh the cost of failing against the regret of never having tried. As you can tell from my story, 75% of the ventures I’ve launched have not worked out over the long-term. This is just part of the game. If you talk to successful entrepreneurs, I would be willing to bet that most of them “failed” in their first, second and third attempts at launching their own ventures.
“For I know the plans I have for you, declares the Lord, plans for welfare and not for evil, to give you a future and a hope.” – Jeremiah 29:11 (ESV)
Even if your business doesn’t succeed as planned, the journey itself can be a valuable learning experience. Trust that God’s plans are ultimately for your good, even if they differ from your own.
6. Business Partners Complicate Things
Choosing the right business partner is crucial. Misaligned goals and values can lead to conflict and complications. Ideally, partners should share the same morals, ethics, drive, and business acumen. This may be the most important principle. People are broken, sinful beings with selfish ambitions. That’s just a fact. When you put two of those types together, you’re likely to see the effects very quickly.
“Iron sharpens iron, and one man sharpens another.” – Proverbs 27:17 (ESV)
Find a partner who complements your strengths and shares your vision. This synergy can enhance your business’s potential for success while fostering a harmonious working relationship.
7. External Factors Are Uncontrollable
Entrepreneurs must navigate various external factors such as economic conditions, government regulations, and market trends. These factors can significantly impact your business, often beyond your control. Sometimes things just happen that are completely out of our control. When we launched our real estate business in 2020, we had no idea the effect Covid would have on interest rates, supply and demand, and credit through banks. We learned the hard way that timing is almost everything.
“Trust in the Lord with all your heart, and do not lean on your own understanding. In all your ways acknowledge him, and he will make straight your paths.” – Proverbs 3:5-6 (ESV)
Developing a contingency plan and remaining adaptable are crucial. Trust in God’s wisdom and guidance to steer you through unpredictable circumstances.
The Entrepreneurial Journey: A Leap of Faith
Starting a business is one of the most challenging yet rewarding ventures one can undertake. It requires hard work, perseverance, and a willingness to take risks. For Christian entrepreneurs, this journey is also a profound leap of faith, trusting in God’s provision and plan.
“But seek first the kingdom of God and his righteousness, and all these things will be added to you.” – Matthew 6:33 (ESV)
As you embark on your entrepreneurial adventure, keep these seven facts in mind. Let your faith be your compass, guiding you through the highs and lows, and remember that with God, all things are possible.
Inspirational Quotes for Christian Entrepreneurs
1. “I can do all things through Christ who strengthens me.” – Philippians 4:13 (NKJV)
2. “Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill
3. “The best way to predict the future is to create it.” – Peter Drucker
4. “God doesn’t call the qualified; He qualifies the called.” – Unknown
5. “Faith is taking the first step even when you don’t see the whole staircase.” – Martin Luther King Jr.
Conclusion to Biblical Principles for Entrepreneurs
Entrepreneurship is a journey fraught with risks and challenges, but it is also a path of immense growth and fulfillment. By understanding these seven fascinating facts and grounding your efforts in faith, you can navigate the entrepreneurial landscape with confidence and resilience.
As you take bold steps towards your business dreams, remember that God is with you every step of the way. Trust in His guidance, embrace the adventure, and let your faith light the path to success and remember these biblical principles as you begin your entrepreneur journey!
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About the Author
John Claborn
Hi! I’m John. Author of the post you just read. I like to write about all things adventure. Mostly things to help people live more adventurous lives and care for their families in a more meaningful way. By day, I’m a COO. By night, I’m a rad dad of 4 kids that I don’t deserve and a husband to a woman I can’t understand how I got. My goal is to show freedom to people through adventure and experiences.
