My wife and I became business owners overnight. When we decided to buy a medical practice instead of working for one of the hospitals, we became instant “owners.” Our education in business was about to begin!
We did not have any real training in how to run a business other than the catch-phrase that my pastor often used to say: “If your out-go exceeds your income, your overhead is your downfall.” Our business plan was clear—we would take over the highly successful business and keep the business practices “as is” unless/until we found something that needed changing. The business already had a retirement plan in place, so we kept the same plan and began contributing to it regularly.
Bless the Lord, O my soul,
And forget not all His benefits… (Ps. 103:2).
Our business was very successful—we were very busy! However, at the end of most years we found ourselves having to borrow a little money just to keep the business afloat. As I mentioned before, I didn’t have much business training, but something seemed wrong with a highly successful business not being able to pay all the bills easily. Apparently our out-go was exceeding our income.
One day, as I was pondering our dilemma and discussing it with my pastor, the Spirit of the Lord spoke the following in my spirit:
“Your yearly deficit is how much?”
“Approximately X amount,” I mused.
“How much is the business contributing to the retirement account?”
“Approximately Y amount,” I reflected.
Then I realized what the Lord was getting at—X and Y were the same amount! Our business budget shortfall was due to the fact that we were contributing to the business retirement account. Now, I was aware that contributing to a retirement plan was not wrong (not a sin), but the Lord took this teachable moment to give us specific direction (faith) to dissolve our defined-benefit retirement plan and begin a deeper walk of faith concerning our financial future.
For we walk by faith, not by sight (2 Cor. 5:7).
Not only did the Lord lead us to dissolve our defined-benefit retirement plan, but He further led my wife and me to liquidate the money that we had accumulated in the plan (an action which incurs a tax penalty) to pay that year’s shortfall.
That was one of the first major lessons in business that the Lord gave us. As we obeyed, the regular shortfalls ceased! His message to us was clear: I AM your business manager, and I AM your retirement planner…I AM your financial future! More lessons were to come (and are still coming as we have successfully owned/operated the business now for 14 years). He has led our business in directions that often were opposite of most other companies. One thing has become clear to us over the years: in business, entrenched patterns are often focused in the wrong direction (asking the wrong questions, so to speak).
By the Lord’s leading, my wife and I have grown very secure in trusting Father God’s benefit plan for all our “benefits needs” (retirement, health insurance, vacations, time off, etc). He shows us how He wants us to plan and save for the future.
Trust in the Lord with all of your heart,
And lean not on your own understanding;
In all your ways acknowledge Him,
And He shall direct your paths (Prov. 3:5-6).
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