Last week I along with Jordan Steele and a few RFP alumni attended the EntreLeadership Summit put on by the Ramsey organization in Nashville, Tennessee. It was an amazing week hearing from world-class thought leaders and business trailblazers. Dave Ramsey gave a presentation called The Nobility of Business. His point was that so many condemn those who are successful but in reality, business done well, is a noble and spiritual endeavor; serving family, community and the world.
In my years of working with agriculture business owners through the Ranching for Profit School, I’ve interacted with many who turn their businesses around and begin to show real profits. Unfortunately some of these owners then self-sabotage, reverting back to old habits and economic loss. I wonder if there are underlying thoughts of “money is evil, success is bad” or “I don’t deserve this” that might be driving people back to destructive behavior?
I’m sure you’ve heard the bible misquoted as “money is the root of all evil”. The correct quote from Timothy is “For the LOVE of money is the root of all kinds of evil”. Dave Ramsey, in his presentation, pointed out that business can be self-centered or others-centered, with the latter being focused on serving and contributing in positive ways.
At the Ranching for Profit School, we do an exercise where we ask participants to identify the uses for profit from their business. Those uses can include dividends to owners, reinvestment in the business, start a new business, pay-down debt, building reserves, or to give it away. When your business is successful, it allows that business to serve the owners, and serve others often in profound ways.
Ramsey finished his presentation reading from the book “Thou Shall Prosper” written by Rabbi Daniel Lapin. In the book Rabbi Lapin shares the Jewish Havdalah Ceremony conducted before the start of the upcoming work week. A cup of wine is filled to overflowing and the overflowing wine spills into the saucer below. The overflowing wine symbolized the intent to produce enough for you and your family, fill your glass, but also produce excess that can provide for others. It is the success of the business and the leaders of the business that allow the cup to overflow serving a purpose beyond only serving the owners.
It is our role as business owners and leaders to build successful and prosperous businesses to not only serve ourselves but to serve others. Business is a noble endeavor. If it is time your ranch business begins to thrive, or if you need to freshen your skills, this is the moment to register for the Ranching for Profit School, to set you on the right path.
Very well said! Thanks for sharing from your experience – great that you take your team to a conference like that.
This is one of the most important aspects of business, in my opinion. How can we be a blessing to others if we are not profitable?
Great points! I do think that many people, especially Christians, equate making a lot of money with being greedy and selfish. Perhaps even believing that rich people are bad and being poor is more spiritual. That isn’t taught out front, but somehow is built into the framework of beliefs and thinking (even if just subconciously). I’ve been working to shift my thinking/belief system and need to learn a whole new way of interacting with money. It is a process that takes time and focused effort. Our goals are not to be rich and selfish but to run an successful, efficient and service oriented business which results in having more resources than we need so as to be able to be generous and helpful. It is exciting- an adventure!!
clearly we may all have differing motivations for ‘profits’, but if our endeavors don’t produce some level of profit we don’t have a long term business. Simple as that!!