S7E38: Best Practices to Make Your Business Profitable and Purposeful

What are some best practices that empower businesses to be both profitable and purposeful for God’s Kingdom? How does a Christian business owner balance the demands of business with valuing employees and customers? Dr. Hannah Stolze, Executive Director of the Wheaton College Center for Faith and Innovation, and Troy Meachum, CEO of ACR Supply Company join this conversation to share a recent case study that has these answers.

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In this episode:

• Do a case study to provide valuable feedback and help the company to focus on areas that were underperforming (03:51)
• “The grace of God is not an excuse for mediocrity.” -Kevin Miller (05:29)
• The Center for Faith and Innovation fosters excellence in the marketplace in two ways (05:53)
• 1) Don’t just teach information. Strive to train and disciple students as they work with different companies (05:59)
• 2) Research and ideas are very much grounded in the wisdom books of the Bible (06:31)
• The best way to improve in excellence is by asking the people you serve (07:46)
• Every two years ACR Supply conducts a customer survey. (07:57)
• Use BCWI to get feedback from ACR Supply team members every year (08:21)
• I believe that gossip is defined as when a negative or a problem is discussed with anybody who can’t solve the problem or source the solution to the problem. I have personally seen how gossip can destroy organizations, relationships, families, and even churches.” (10:48)
• How leaders can make space for honest feedback without retribution (12:53)
• Leaders need to practice listening well and invite feedback and opportunities to join problem solve (13:24)
• Servant leadership: one of core tenets is listening (14:09)
• ACR Supply becoming an EOS Traction organization has helped operational excellence (20:17)
• “I like what Troy said about being inviting; I think it’s a different challenge as companies get larger. We’ve seen the language shift to faith friendly. This means loving people in a way that recognizes the need to bring your whole self to work (including faith & spirituality) while creating values and practices that are based on faith-driven principles that everyone can embrace in some way.” -Hanna Stolze (24:50)

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