Doing Business by the Good Book Ch 1

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the underlying message about the impact of others' expectations?

They should never influence your choices. (correct)

They can motivate you to succeed.

They are often correct and should be followed.

They only matter if you trust those giving the advice.

What was the primary service provided by the author's company, Transportation Business Specialists?

Consultation for business efficiency.

Undercharge audits in the commercial freight industry. (correct)

Overcharge audits for rail companies.

Transportation logistics management.

How does the author describe the transition to becoming a sole proprietor?

It required little financial risk.

It was an immediate success with high profits.

It was an easy adjustment with benefits.

It was difficult but rewarding. (correct)

What lesson does the author derive from the biblical story of Abraham?

Trusting in God can lead to unexpected solutions. Signup and view all the answers

What philosophy guides the author's business approach?

Prioritizing service to others. Signup and view all the answers

What experience did the author have with their first company that exemplified difficulties faced in entrepreneurship?

Facing repossession of personal assets. Signup and view all the answers

Which biblical teaching does the author reference to illustrate their commitment to service?

The Last Supper where Jesus washed his disciples' feet. Signup and view all the answers

How is an entrepreneur defined?

One who organizes, manages, and assumes the risk of a business Signup and view all the answers

What does the quote 'Give, and it will be given to you' suggest about generosity?

Generosity leads to receiving rewards Signup and view all the answers

What was the primary challenge Noah faced while building the ark?

Dealing with ridicule and disbelief from others Signup and view all the answers

Which aspect of Noah's project highlights his entrepreneurial spirit?

The detailed planning and execution of the project Signup and view all the answers

Why did the author consider starting his own company a 'miniscule task' compared to Noah's challenge?

Because of the larger societal impact Noah had Signup and view all the answers

What was a common reaction from people towards the author when he decided to start his company?

Questioning his qualifications and abilities Signup and view all the answers

What relationship can be inferred between ambition and skepticism in the text?

Ambition often invites skepticism and criticism from others Signup and view all the answers

How did Noah's faith impact his ability to complete the ark?

It provided him with unwavering determination in the face of adversity Signup and view all the answers

Study Notes

Entrepreneurial Spirit

Entrepreneur defined as someone who organizes, manages, and takes risks in a business. This definition is considered sterile without the element of the entrepreneurial spirit.
The author draws a parallel between his entrepreneurial journey and Noah building the ark, highlighting faith and trust in God in the face of adversity.
Noah's ark, a massive undertaking, required immense trust in God. This was despite ridicule and no visible sign of the impending flood.
The author's experience mirroring Noah's faced skepticism from family and friends about starting his own business.
Starting a business faced questions about the author's suitability despite prior experience in sales and marketing.
People tend to discourage ambitious individuals, citing doubts and concerns.
Important to avoid limiting oneself by conforming to the expectations of others. Instead, one should follow God's unlimited promise.
The author faced skepticism when entering the Information Technology (IT) industry as an African-American in the 1980s.
Starting Transportation Business Specialists in 1984, the author faced challenges of operating outside of a large corporation.
The author's company provided undercharge audits for Union Pacific Railroad, managing $15 billion worth of rate information; this created a large network for their operations.
World Wide Technology (WWT) was founded in 1990 with challenges and tight funding. Despite recessions, payroll was never missed.
Even during setbacks like a repossessed car, the author focused on employee wellbeing while maintaining faith.
The author's experience aligns with people in the Bible such as Abraham, Noah and David who were tasked to perform God's work.
The author's personal philosophy is rooted in the biblical saying "give, and it will be given to you."
The goal isn't just profit but serving others through business, including employees, customers, and suppliers.
The example of Jesus, serving and sacrificing for others, directly parallels the entrepreneurial spirit focusing on service.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

Explore the essence of the entrepreneurial spirit through the lens of faith and perseverance. This quiz draws parallels between personal entrepreneurial journeys and the biblical story of Noah. Discover the importance of trusting in a higher purpose despite external skepticism.