In this blog, we’ll explore what it takes to sell your business, particularly from the perspective of Biblical stewardship, succession planning, and investment vehicles.
Biblical Stewardship
For business owners who prioritize Biblical stewardship, selling a business is not just about maximizing profits. It is also about being faithful stewards of the resources that God has entrusted to them. Before selling your business, seeking God’s guidance and direction through prayer and fasting is essential. Ask Him to reveal His plan for your life and your business, and seek wise counsel from other Christian leaders.
When it comes to selling your business, Biblical stewardship means being transparent and honest about your motives and intentions. Avoid making decisions based solely on greed or self-interest. Instead, seek to honor God through every step of the process, including negotiations with potential buyers.
Succession Planning
Succession planning is a critical component of selling your business, particularly for faith-based companies. Succession planning involves identifying and preparing your successor(s) to take over the business and ensure its continued success after you step down.
Succession planning is more than just a financial transaction for businesses that prioritize Biblical stewardship. It is an opportunity to pass on your values, vision, and mission to the next generation of leaders. It is a chance to create a legacy that honors God and impacts the world for His glory.
Sell Your Business and Invest The Proceeds In Alignment With Your Values
When you receive income from selling your business, choosing the right investment vehicles is vital to achieving your financial goals. Selecting investments that align with your values is essential to achieving your spiritual goals. Consider each investment option from both financial and spiritual perspectives.
Many choose to reinvest in another company after the successful sale of a business. This option can be great if the business aligns with your values and mission. Your wisdom and experience will be invaluable for starting a new business or investing in someone else’s venture.
Another option is to donate some of the proceeds to charitable causes that reflect your Biblical stewardship values. Start by considering the organizations you support regularly. The sale of a business provides an opportunity to make a landmark donation that can have an impact for generations to come.
Finally, investing in mutual funds and other managed strategies can have many advantages after selling your business, as long as the fund doesn’t invest in companies that don’t align with your values. Even though mutual funds don’t feel like owning a business like the one you sold, you are, in fact, a business owner. Values-based investing enables you to invest the proceeds in alignment with your Biblical principles. Meet with one of our advisors today to discuss your options.
In conclusion, selling your business requires careful consideration and planning. Biblical stewardship, succession planning, and investment vehicles are critical to a successful sale. By seeking God’s guidance, preparing your successor(s), and choosing investment vehicles that align with your values, you can ensure that your sale honors God and achieves your financial and spiritual goals.
Schedule a consultation with a OneAscent advisor today if you’d like to discuss your options.