The late-Larry Burkett was a well-recognized Christian financial consultant and founder of Christian Financial Concepts. In his book, Business By The Book, Burkett outlined a number of foundational and timeless principles for business, including what he called the six biblical minimums.
The First Biblical Business Minimum: Reflect Christ in Your Business Practices
The first foundational business principle postulated by Burkett was to reflect Christ in every business practice. To reflect Christ in every practice means to do things in such a way that are consistent with Christ’s character and makes Christ look good in the sight of others. Burkett explains that putting Christ may cause a company to lose money in the short-term, but will reap benefits for the long-term.
The Second Biblical Business Minimum: Be Accountable
The second foundational principle put forth by Burkett was to be accountable. Accountability has become a bad word in organizational and private circles, but the accounting and housing scandals call this practice back into the limelight. To be accountable means to have checks and balances in place to ensure responsible business practices.
The Third Biblical Business Minimum: Provide a Quality Product for a Fair Price
The third foundational principle suggested by Burkett was to provide a quality product for a fair price. Burkett wrote: “The value of the products and services a company offers says more to the public about the real character of the company and its people than perhaps any other aspect of the company’s life.” Repeat business comes with trust; trust is won by quality products at fair prices.
The Fourth Biblical Business Minimum: Honor All Creditors
The fourth foundational principle talked about by Burkett is to honor all creditors. This means to pay all debts on time whether it is borrowed merchandise or money. Too much debt and the related interest can eat into profits and jeopardize the long-term viability of a business. Not paying debts also takes erodes a company’s reputation.
The Fifth Biblical Business Minimum: Treat Employees Fairly
The next foundational minimum is to treat employees fairly. Employees are the backbone of the business. They are in the trenches every working day to help the company fulfill its mission. A company that understands the worth of its hired help inspires those employees to give their best and receive a positive return on investment.
The Sixth Biblical Business Minimum: Treat Customers Fairly
The last foundational business principle set forth by Burkett is to treat customers fairly. No organization or business can survive without customers. When customers are treated well, they will come back.
These are the six biblical business minimums Burkett postulates for a prosperous long-term Christian-based business. The last five apply to any business.