Doing Business by the Good Book Ch 51

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Questions and Answers

What was the initial financial situation of the WWT company before pursuing the air force contract?

  • They were in a position to acquire multiple contracts.
  • They were financially stable with no cash-flow issues.
  • They were experiencing significant cash-flow problems. (correct)
  • They had recently increased their sales dramatically.

How much time did WWT invest in pursuing the air force contract?

  • One month
  • Six months (correct)
  • Two years
  • One year

What was the approximate amount of out-of-pocket expenses incurred by WWT while pursuing the air force contract?

  • $300,000
  • $150,000 (correct)
  • $200,000
  • $50,000

What unexpected opportunity arose for WWT after losing the air force contract?

<p>A contract with the General Services Administration. (D)</p> Signup and view all the answers

What was the result of the GSA contract for WWT's annual sales?

<p>Sales increased to $74 million. (D)</p> Signup and view all the answers

Who accompanied the narrator to the initial meeting with the GSA?

<p>The company's president, Joe Koenig. (A)</p> Signup and view all the answers

What was the perceived outcome after WWT submitted their final bids for the air force contract?

<p>They believed they would definitely win. (A)</p> Signup and view all the answers

How did the General Services Administration become aware of WWT?

<p>Due to the company's technology expertise and customer recommendations. (D)</p> Signup and view all the answers

What was the impact of the GSA contract on the company?

<p>It established them as a leader in the industry. (A)</p> Signup and view all the answers

How long did it take to close the GSA contract?

<p>Sixty days. (D)</p> Signup and view all the answers

What does the speaker attribute their success to?

<p>Divine intervention and prayer. (D)</p> Signup and view all the answers

What sentiment is expressed about faith after achieving success?

<p>People often forget their faith post-success. (D)</p> Signup and view all the answers

What financial goal does the company aspire to achieve in the future?

<p>To become a $10 billion company. (B)</p> Signup and view all the answers

Which biblical reference emphasizes belief without sight?

<p>John 20:29. (C)</p> Signup and view all the answers

What is the purpose of the 'Doing Business by the Good Book' classes?

<p>To inform others about the role of faith in business. (A)</p> Signup and view all the answers

Flashcards

Unexpected Blessings

God's blessings can arrive in unforeseen ways.

WWT's Air Force Contract

WWT, a company, invested significant resources pursuing, but didn't win, a contract with the Air Force.

GSA Contract

The General Services Administration (GSA) selected WWT for a significant contract.

WWT's Growth

The GSA contract led to a substantial increase in WWT's annual sales.

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Faith in God

WWT's success showcases the importance of trust in God's plans, even if they are different from expected outcomes.

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Cash Flow Problem

The company faced financial difficulties before the GSA contract.

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Significant Business Opportunity

The GSA contract was a substantial opportunity for a company to grow.

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Initial Meeting

A meeting with the GSA that significantly affected the company's path.

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WWT's Success

WWT's growth from a small company to a billion-dollar enterprise, fueled by the GSA contract and faith.

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Prayer's Power

WWT's CEO believes prayer played a crucial role in securing the GSA contract, emphasizing the connection between faith and business success.

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Faith in Business

The belief that God's guidance is essential for business success, even in challenging times.

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Rapid Contract Closure

The GSA contract was awarded to WWT in an unusually short timeframe, further highlighting its significance.

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Setting Goals

WWT's ambition to grow from a billion-dollar company to a $10 billion company.

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Faith-Based Success

The belief that believing in God's plan and taking action is the key to achieving business dreams.

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Study Notes

WWT's Success Story

  • WWT, a company facing cash flow problems, landed a multimillion-dollar contract with the Air Force, which would have tripled the company's revenue from $17 million.
  • Investing thousands of hours and $150,000, WWT worked hard to win the contract, but a competitor secured the deal instead.
  • The General Services Administration (GSA) contacted WWT to offer a new start-up program contract related to technology expertise.
  • WWT secured the GSA program contract in 60 days and its annual sales increased from 17millionto17 million to 17millionto74 million.
  • This GSA contract, exceeding the one lost to the Air Force, distinguished WWT as an industry leader.
  • The GSA contract helped WWT expand into non-governmental areas and demonstrated accelerated business processes common to governmental contracts.

Faith in Action

  • The author believes that God is involved in WWT's success and credits divine intervention for their achievements.
  • They advocate for prayer as a tool for guidance during business activities, even during critical phone calls.
  • The author notes that faith is sometimes challenged during difficult times but can be regained.
  • Sometimes faith is seen as optional or a relic of the past.
  • The company's founder and wife, Thelma, organize Sunday School classes to promote faith-based business practices.
  • The author encourages the idea of using faith to achieve business goals.
  • The author and wife believe the company will one day be a $10 Billion company as well as reach a future billion-dollar objective.
  • Faith, not past success, is an important component of future success, according to the author.

Faith and Belief

  • Paul's words, "I can do all things through him who strengthens me," (Philippians 4:13) inspire the author.
  • The passage from John 20:29, about faith in Jesus, is quoted to encourage faith in achieving future goals.

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