How do you create a family business that endures the test of time? What are the secrets to building wealth that lasts for generations? The Bible has a lot to say about leaving a legacy, and this episode of The WealthBuilders Podcast takes a deep dive into these spiritual principles.

Join Karen Conrad and Dave Metcalfe as they unpack inheritance, heritage, and how to build the Kingdom of God together as a family. Click the player below to watch, or listen on your preferred podcast platform.

Biblical Keys to Building a Family Business Shownotes

Prosperity: having all the necessary resources to do God’s work, building wealth to make a difference, leaving a legacy

“Every spiritual blessing that provides vibrant physical and emotional health, freedom from oppression, protection, quality relationships, peace, joy, and financial blessing.”

Inheritance and Heritage:

Oftentimes, people get money when their parents die, but they have no training on how to steward it well. Or, they were not able to enjoy the journey together.
Understanding generational wealth as a part of God’s plan is integral to the Jewish faith (Abraham, Isaac, Jacob, etc). They purposefully worked on transitioning family wealth together.
The heroes of the Old Testament didn’t just work on inheritance. They worked on heritage too. Inheritance is the acquisition of something tangible, but heritage is a family’s reputation.
Proverbs 22:1 “A good name is to be chosen rather than great riches, and favor is better than silver or gold.”
When parents pass down inheritance and heritage to their children, it allows them to conduct business in a prosperous way. They have the resources, trustworthy relationships, and character necessary to succeed.
When you do business with your family, it’s important to filter business decisions from a win-win framework.

Generational Wealth

Building generational wealth starts with evaluating the money mindset you inherited from your family.
We must conduct business and financial affairs from the limitless perspective of building wealth for the Kingdom of God.
When building a family business, consider how to remove constraints off your goals and activities.
Get knowledge, understanding, and wisdom. Then, when God tells you to make a financial decision, you’ll know how to apply the steps to make it happen!
90% of wealth is lost by the third generation. We must teach our children how to steward wealth with biblical values.
As a family, you already have a deep connection. To grow a good business, leverage the strengths and sweet spots of each family member. Let each person lead where they thrive.