WISDOM FOR BUSINESS- PASTOR SAM ADEYEMI

Hello beautiful people. Happy new week to each and everyone. This post is about yesterday's sermon in church. I'll like to share with you what my Pastor preached about yesterday, which is "Wisdom for business".

The text was taken from Luke 14: 28-31 (MSG), which says “Is there anyone here who, planning to build a new house, doesn’t first sit down and figure the cost so you’ll know if you can complete it? If you only get the foundation laid and then run out of money, you’re going to look pretty foolish. Everyone passing by will poke fun at you: ‘He started something he couldn’t finish. Or can you imagine a king going into battle against another king without first deciding whether it is possible with his ten thousand troops to face the twenty thousand troops of the other?

Now, moving on... First of all the rampant question is:
1.) DO I NEED A BUSINESS PLAN?
The answer is Yes, you do. Luke 14:28, Hab 2:2
We all should note that Planning is Winning. Without plans, the business will be shaky.

Components of the business plan
-Intention
This talks about your dream and desire you want to reach at the end of the day.

-Vision
Whatever industry you want to do, you need to have a strategic vision.

-Market research and Analysis
If you go to a restaurant and order for Beef, the waiter will ask you 'How do you like it?' Some say, they want it fried, some boiled, some roasted, etc. So also you need to ask your customers not just what they want, but how they like it. Because your product may be the best, but not presented in the best way for people that need it to get it from you.

-Operation plan
You need to know the number of departments and number of people you need to work with you.

-Funding
Where the money will come is very important. Projections, Scenario planning, how much to start with, etc. Don't start with a huge amount of money,don't be under pressure.

2.) HOW MUCH DO I NEED TO START?
-Depends on your industry.
You cannot compare the funds of a Power manufacturing company and that of a fashion shop.

-Geography location

-Specialty(niche)

Looking at the widow story, Elisha said to her, "Tell me what you have" and she said she has nothing 'except' a small jar of oil. Elisha told her to borrow some empty barrels from other people. She poured this little oil into the jars and that was how her breakthrough came about.

The lesson Leary here is to Start with what you have, the power of God came on the widow's small quantity of oil. I pray that may God open your eyes. This small jar of oil to us may be a relationship,skill, asset that can be sold to get your capital. I pray again that may the God that opened the eyes of the widow, open your own eyes too.

The most important thing is revelation in having capital. We have a leverage, God, Jesus and the Holy spirit.

3.) WHAT ARE THE BASIC THINGS I NEED TO KNOW ABOUT THE FINANCES?
You've got to know what's coming in and what's going out. Prov 27:23-24

The 3 financial documents you need are:
-Balance sheet (shows the overall financial state of the business)
-Cash flow statement (shows the financial state at a particular point in time)
-Profit and Loss statement (Shows the Daily, Weekly, or Monthly statement of account, to know if you made profit for that period or not.

Let me leave you with this...
Prov 24:3-4
"It takes wisdom to build a house, and understanding to set it on a firm foundation; It takes knowledge to furnish its rooms with fine furniture and beautiful draperies'.

I pray that from today, your days of loss are over forever and may God show you the right way to go always in Jesus might name. Amen

God bless my Pastor. Service was awesome and we all went home smiling and ready for the new week.

Thanks for reading...Till I come your way next time, I remain you sugar lovey dovey @oredebby