Kingdom EntrepreneursKingdom EntrepreneursChanging Their WorldChanging Their World

John MulfordJohn MulfordRegent UniversityRegent University

Center for EntrepreneurshipCenter for Entrepreneurship

OverviewOverview

EntrepreneursEntrepreneursEngine of economic growthEngine of economic growth

Kingdom EntrepreneursKingdom EntrepreneursBringing economic & spiritual growthBringing economic & spiritual growth

VictoryVictoryPursuing God’s calling in God’s wayPursuing God’s calling in God’s way

Part 1Part 1

EntrepreneursEntrepreneursEngine of economic growthEngine of economic growth

Engine of Creative DestructionEngine of Creative Destruction

Schumpeter: Creative destruction Schumpeter: Creative destruction Innovator’s Dilemma—entrepreneurs Innovator’s Dilemma—entrepreneurs

beat big business in innovationbeat big business in innovation Examples of small beating big and Examples of small beating big and

new beating oldnew beating old• Disk drives for PC’sDisk drives for PC’s• Biotech Biotech • Mini-mills for steelMini-mills for steel

Small Business Big Part of EconomySmall Business Big Part of Economy

Small business accounts forSmall business accounts for 95% of business establishments95% of business establishments 50-60% of employment50-60% of employment 60-70% of new jobs60-70% of new jobs

Massive Oaks Grow from AcornsMassive Oaks Grow from Acorns

Wal-Mart (1) From a few Ben Franklin Wal-Mart (1) From a few Ben Franklin stores to the largest company in the world stores to the largest company in the world

HP (12) two engineers in a garage with HP (12) two engineers in a garage with expertise but no product or plan create expertise but no product or plan create the HP Waythe HP Way

Dell (31) from college dorm room to PC Dell (31) from college dorm room to PC market leader market leader

Microsoft (46) brilliant youngsters without Microsoft (46) brilliant youngsters without degrees outsmart IBM to dominate PC degrees outsmart IBM to dominate PC softwaresoftware

Howard Schultz

The bottom line

• We always figured that putting people before products just made good common sense. So far, it’s been working out for us. Our relationships with farmers yield the highest quality coffees. The connections we make in communities create a loyal following. And the support we provide our baristas pays off everyday.

• Schultz wanted "to build a company with soul."

Schultz Falls for Starbucks• Howard Schultz, corporate marketer, hired by

coffee roaster Starbucks in 1982.

• Schultz wants to model Starbucks after espresso bars in Italy, but owners don’t want to be in restaurant business

• In 1985, Schultz leaves to pursue his passion—to create a new industry

• In 1987, Schultz buys Starbucks

Growth Timeline• 1971--First store in Seattle

• 1985--six stores, Schultz leaves Starbucks

• 1987--Schultz buys out Starbucks for $3.8M

• 1992--IPO, 165 stores

• 2007

– 13,000 stores in 40 countries

– opening five new stores daily

– $8B revenue; 145,000 employees

$4 for a cup of coffee?

• Inviting destination—living room away from home

• Atmosphere enhanced by happy employees

• “Green image”—fair trade coffee

Why is U.S. Hotbed of Why is U.S. Hotbed of Entrepreneurs?Entrepreneurs?

Failure celebratedFailure celebrated

Individual success celebrated & rewardedIndividual success celebrated & rewarded

Change embraced—creative destructionChange embraced—creative destruction

Intellectual property rights protectedIntellectual property rights protected

Well-developed financial system provides Well-developed financial system provides venture capital to start businesses and venture capital to start businesses and private equity to reengineer themprivate equity to reengineer them

Part 2Part 2

Kingdom EntrepreneursKingdom EntrepreneursBringing economic & spiritual growthBringing economic & spiritual growth

What is Kingdom Business ?What is Kingdom Business ?

For profit business For profit business

designed intentionally to facilitate designed intentionally to facilitate

God’s transformation ofGod’s transformation of

people and nationspeople and nations

Intentional Christian WorldviewIntentional Christian Worldview

Goes beyond excellence, honesty, Goes beyond excellence, honesty, serving stakeholdersserving stakeholders

CWV of business includesCWV of business includes• Dominion-stewardshipDominion-stewardship

Gen 1:26+; Lev 25:23Gen 1:26+; Lev 25:23

• Redemptive purposeRedemptive purpose Hab 2:14; Rom 8:19-21Hab 2:14; Rom 8:19-21

Signs of Kingdom BusinessSigns of Kingdom Business

Excellence, honesty, integrity (same as Excellence, honesty, integrity (same as good business)good business)

Recognition of God’s hand on the Recognition of God’s hand on the business by everyone, including business by everyone, including unbelievers.unbelievers.

Transformed lives—employees, Transformed lives—employees, customers, suppliers, general public.customers, suppliers, general public.

RevivalRevival

Global KB MovementGlobal KB Movement

International Christian Chamber of International Christian Chamber of Commerce (ICCC)Commerce (ICCC)

Fellowship of Companies for Christ Fellowship of Companies for Christ International (FCCI)International (FCCI)

C12C12 KB training organizationsKB training organizations

• NPIM, EquipNPIM, Equip

S. Truett Cathy

Corporate PurposeCorporate Purpose

“To glorify God by being a faithful steward of all that is entrusted to us

and to have a positive influence on all who come in contact with

Chick-fil-A.”

Personal & Company History

• Poverty; hard work from young age• 1946 started Dwarf House Grill.

Work 24 x 6; closed Sunday• 1967 started Chic-fil-A• Unique business model—company owned

stores. Young entrepreneurs with few assets can share rewards of their hard work.

Business SuccessBusiness Success

In 2006:

–1,300 restaurants in 37 states and D.C.

–73 new restaurant openings

–$2.275 billion in sales

Ministry SuccessMinistry Success

• Scholarship Program–Established in 1973 to encourage employees

to further their education–July 2005 – Awarded 20,000th scholarship–Awards totaling $22 Million–Today $1.2 Million awarded annually–2,138 colleges attended

Located on Campus of Berry College in Rome, GA it supports:

• WinShape College Program

• WinShape Camps

• WinShape Homes

• WinShape Wilderness

• WinShape Retreat

• WinShape Marriage

• WinShape International

David StewardFounder & Chairman

World Wide Technology Inc

• Leading systems integrator providing technology & supply chain solutions

• Value added reseller of IT products & services

• E-commerce portal for procurement

• Vendor managed inventory services for Dell

Preparation for Success

• Mother warned against being bitter or resentful• Saw faith in action in the home• Learned principle of sowing and reaping• “It was clear in my mind that my belief in God,

coupled with the desire to work hard and serve others, meant I was destined to succeed.”

Timeline of Success

• Ten years in sales at 3 Fortune 500 companies

• 1990: Founded WWT, 7 employees, $800K sales

• 1998: $200M sales; Ernst & Young Entrepreneur of the Year Award

• 2005: $1.8B sales; 900 employees; Cisco federal direct VAR of year

Principles for Success

• Good leadership is love – "I love my employees and show them through my actions."

• Blessed to be a blessing – serving others and doing good for others is the bottom line.

Perspective on God’s Role

• Gives credit to teachings of Bible & to God“Looking back to 1990, it was nothing short of a miracle.”

• Sees company as his ministry

• Taught Sunday school that became Doing Business by the Good Book

Michael Cardone, Sr.

Cardone Industries

Cardone Industries

• World’s largest privately-owned auto-parts remanufacturer

• 1970, Michael Sr. & Jr. start in North Philadephia row house with six people

• 2007 est. sales $400 million

• 4,000 employees

Part 3Part 3

VictoryVictoryPursuing God’s calling in God’s wayPursuing God’s calling in God’s way

Faces of VictoryFaces of Victory

Joseph, Daniel—God promotesJoseph, Daniel—God promotes

Joshua, Gideon—God fightsJoshua, Gideon—God fights

Esther, Nehemiah—God favorsEsther, Nehemiah—God favors

Prophets, Job—God allows sufferingProphets, Job—God allows suffering

Principles of God’s VictoryPrinciples of God’s Victory

Victory comes after maturing trialsVictory comes after maturing trials Even the righteous suffer. Pain produces Even the righteous suffer. Pain produces

empathy for othersempathy for others Attitude should not depend on Attitude should not depend on

circumstances—Phil 4:12, Hab 3:17-18circumstances—Phil 4:12, Hab 3:17-18 Relationship with God is victoryRelationship with God is victory God blesses those who obey HimGod blesses those who obey Him

Deu 7: 11-15Deu 7: 11-15

Preparation: Time & SetbacksPreparation: Time & Setbacks

Why can’t you get started? DavidWhy can’t you get started? David

Have you wasted your best years? Have you wasted your best years? JosephJoseph

Are you past your prime? MosesAre you past your prime? Moses

Has your vision died? God’s peopleHas your vision died? God’s people

From Preparation to ActionFrom Preparation to Action

For the recklessFor the reckless• Listen, weigh, waitListen, weigh, wait

For the hesitant For the hesitant • Overcoming doubt, fear, inertiaOvercoming doubt, fear, inertia

Business Systems

Questions facing Starting Questions facing Starting EntrepreneursEntrepreneurs

Which business idea to pursue. Which business idea to pursue. Choosing the best business model Choosing the best business model

• What part of value chain to doWhat part of value chain to do

• Partnering—with suppliers, customers, Partnering—with suppliers, customers, competitorscompetitors

Getting the right people on the busGetting the right people on the bus Getting customersGetting customers Financing the businessFinancing the business

You’ve Launched. Now What? You’ve Launched. Now What? Dynamic planning & implementationDynamic planning & implementation Guidance system: stay locked on your Guidance system: stay locked on your

callingcalling Pitfalls of taking care of yourself firstPitfalls of taking care of yourself first The power of caring for others (Matt 25)The power of caring for others (Matt 25) Prayer & intercessionPrayer & intercession Humility—I can do all things through Christ Humility—I can do all things through Christ

who strengthens me. Ask for help—from who strengthens me. Ask for help—from God & others. Give credit where due.God & others. Give credit where due.