I came across a great video today from a Jewish businessman, Berel Solomon. There’s some fantastic advice that people of all backgrounds can implement. Here’s my 100% non-AI summary:
- Teach your children how to earn a living.
- Be honest in all business dealings.
- “You must have accurate and honest weights and measures…” – Deut. 25:15a
- Have a positive relationship with money.
- Money is a tool to build communities, family, institutions.
- Help our community.
- Berel describes how the Jewish community “tries to help each other as best we can.”
- We can apply this to our own communities.
- 10% of earnings to charity.
- Allows us to stay humble, and we can try to make more than we need to give more charity.
- It is preferable to be an owner rather than a worker.
- This ties in with business leverage and scaling.
- Don’t do to other people what you wouldn’t want done to you.
- Jesus said “do to others what you would have them do to you.”
- Keep 1/3rd of money in cash, 1/3rd in real estate, 1/3rd in inventory.
- This is his view of proper hedging.
- Take 1 day off from work every week.
- No emails, phone calls, even thinking or speaking about work.
- Trust God, he is at the core of business dealings.
- Trust Creator will reward our work and bless work, gives confidence to take calculated risks.
Category: Business