Myron Golden helps business owners reach success

The Cheat Code For Black-Owned Businesses — Myron Golden

The aspect of Yahweh that astounds me the most is His meticulous systems. When he created the Earth, he created a system for all of his creatures to form and function. These systems are so specific, so detailed, we have a mega-field of study — called sciences— to figure this thing out. 

He did the same thing for economics. Built into his creation is a system for producing, trading, consuming and spending. We call it business. 

If you and your spouse are business owners, you have access to a perfect operations manual for how to run our businesses. It’s called the Bible. It can give you all the guidance you need to have a successful Black-owned business.

5 Ways God communicates through scripture: prophesies, prescriptions, precedents, patterns, principles

Yes, there’s a lot of talking heads writing business books. The truth is that the good ones are just remixing scripture for a modern context. 

Proverbs Is A Cheat Code For Black-Owned Business Success

Proverbs was written by one of the richest, most successful business leaders to ever live. It’s literally a whole cheat code on how to start and scale successfully. 

Proverbs 28:19

“Whoever works his land will have plenty of bread, but he who follows worthless pursuits will have plenty of poverty.”

Proverbs 14:23

“In all toil there is profit, but mere talk tends only to poverty.”

Proverbs 13:11

“Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.”

As a business owner myself, I have truly benefited from following the Holy Spirit’s guidance and biblical business principles. It’s only by the grace and guidance of Yah that I was able to bootstrap a business from nothing to seven figures in annual revenue, sell it, and retire from my field — at 42.

Too Many Black-Owned Businesses Fail because…

Black business owners are struggling with profitability, turnover, and operations. Too many Black founders leave their businesses without a plan for acquisition and still have debts to pay off years later. 

Eight out of 10 Black-owned businesses fail within the first 18 months… after the surge [following the death of George Floyd], sales at many Black-owned businesses plummeted back to their pre-Covid rates.

— CNBC, February 2021
3% of businesses are owned by African Americans

Many of us are aspiring business owners, but we haven’t taken the leap because we see these stats and stop before we start. 

Myron Golden

Business Coach, Author of From the Trash Man to the Cash Man

Most people don’t have enough courage to start, create, and sustain a business system. You say, “Myron, what does it have to do with courage?” It actually has everything to do with courage. Here’s why. While you’re building a system, you’re often not getting paid. You usually don’t get paid until the system is built. But most of us are so “addicted” to a paycheck that we can’t get rich. One of the biggest reasons we don’t get rich is because we have to unlearn how to trade our time for money.

Aside from a lack of faith there are a lot of reasons for this, so no judgment. But one of the top reasons for this pattern of failure is that we try to build our businesses using the world’s method, instead of Yahweh’s. 

By His grace and biblical guidance, I was able to exit my business instead of just shutting it down, because He built my business, not me. 

Whenever I wanted to get into debt, He shot it down. 

Me: “They throwing a million dollar line of credit at me.”

Him: “We don’t need a line of credit, let’s build a line of cash.”

Whenever I wanted to keep a person on the team who needed to go, He showed me how to give them an exit. 

Me: “But this person needs the money.” 

Him: “I am their provider, not you. Let ‘em go.”

Whenever I needed to implement a new system or climb a learning curve, He sent the advisors, coaches, conferences, and classes I needed to shift my mindset for the next step. (It’s always about mindset, not just methods.)

Don’t even get me started on the leadership lessons in scripture. All of the patriarchs and prophets were in charge of leading a team on a mission. Their life lessons and guidance directly match what’s needed to lead a business. 

Get The Wisdom, And Get Ready

Not to say that your journey building a Black-owned business will always be smooth. Like any business, you still need a viable product or service and a market that’s willing to pay for it. You still need margins. You will face bumps, drops, and crashes, like everyone else. But scripture gives us guidance on how to overcome those challenges. The Holy Spirit gives you the grit to stick to it. 

Here’s a masterclass from the great Myron Golden about how scripture is truly our GPS for business owners. It’s an hour long, but it will bless you. Besides, as a business owner, you will have to make drastic shifts in mindset. That means you will need to get used to constantly growing your knowledge base. 

As you do that, reject anything that conflicts with biblical guidance, no matter how tempting it may be. Scripture gives us the foundation of guidance we need. Anything else needs to pivot off that. 

Reflection Questions For Black-Owned Business Leaders

  • What business are you and your family looking to build this year?

  • How do you plan to use scripture as your operating manual?

  • Who are the 3 christian thought leaders you’ll follow to keep yourself reminded of biblical principles for business?

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