Is There Good Debt In Business ?预览

Day 3: Debt Alternatives 

A lot of business experts believe that borrowing money in business is a major way to grow because it allows for larger opportunities that cannot be self-funded. Because this mindset is so pervasive, we have to renew our mind to God's ways, not the world's. This is hard because many societies use debt to function in every major aspect of daily living (i.e., being in debt to buy a car, house, education, business, furniture, credit cards, store credit, church buildings, etc).

 

However, it is possible to renew our mind. James tells us that our mind can be renewed with the word of God. Therefore, according to Joshua, a daily diet of reading and meditating the word of God will bring out thoughts that align with God's wisdom.

 

Now practically, you may have some concerns on how to get started in business if you don’t borrow money. The simple answer is to start small;  as your business makes money, you can then take on bigger ventures. God mostly directs in steps, not leaps. Similarly, your business will grow in steps, not leaps. In the beginning, there will be some ventures you cannot get into because your business is not mature enough in cash to handle the transition.

 

However, if your business requires equipment that is rather expensive and you do not have the cash to pay for them, you can do one of the following three things: (1) rent the equipment, (2) outsource to another company that does have the equipment, (3) or buy inexpensive used equipment.

 

By doing one of these three things, you can get your business going without incurring additional debt. Don’t give in to the temptation of borrowing money for your business; just trust God.  You can do this. I have, and so have others.

I pray that this devotional was a blessing to you. 

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