Startup – Kingdom Business Life Cycle

WEEKLY DEVOTIONAL BY PATRICE TSAGUE

What practical things should you keep in mind as you begin your business? How can you best prepare yourself to enter the startup stage? What does it take to succeed in this stage?

Entrepreneurs make great starters but poor finishers. The second stage in the Kingdom Business Life Cycle is the startup stage: the stage when the entrepreneur launches the business and has active revenue but has not yet broken even. This stage spans the duration from the initial launch to when the business breaks even.

This is where ideas are formed, proof of concept is developed, the entrepreneur begins his or her plan of action, and the business model is tested. A new business can be in the startup stage for just a few months or several years, depending on how long it takes the business to reach the point where revenue meets expenses in a sustainable manner. The ideal length of the startup stage is one to three years. If you can not get past this stage, you will not finish.  

As Biblical Entrepreneurs, we should make sure that we count the cost of launching a business before we begin. It is important for any entrepreneur to understand the time, energy, and resources that will go into running a business with excellence. Poor planning in the front end can result in wasted resources down the road.

How should an entrepreneur prepare for the startup stage of a Kingdom business?

1. Prepare Spiritually: Prepare your spirit to remain faithful through the challenges and uncertainties in starting and growing a business in God’s way. Seek the Lord through prayer and fasting, repent from your sins, and pray for those you are called to serve.
2. Prepare Naturally: Physically prepare yourself for the challenges and uncertainties of starting and growing a business in God’s way. Remain under authority. Develop a plan, gather the necessary resources, assess the need, and rally others to help you.
3. Prepare Mentally and Emotionally: Prepare your heart and mind for the challenges and uncertainties of starting and growing a business in God’s way. Don’t be intimidated by your adversaries, have a mind to work, commit to not getting distracted, and finish the work in front of you.
4. Expect the Wilderness Period: During this period, entrepreneurs go through a time of character building and value formation. The entrepreneur works hard, carries the highest amount of risk, and does not see an immediate return – he or she is entering into completely uncharted territory. This period is also marked by an increased level of emotional and physical stress. The wilderness period is unavoidable and may be minimized if the entrepreneur is beginning with a purchased or inherited business that is well past this stage.
5. Develop a Business Plan with Realistic Financials: Don’t overshoot your revenue projections. Be realistic and conservative in your financial assumptions. Self-fund your business as much as possible, leverage a vendor line of credit if necessary, and minimize your fixed cost.
6. Understand that it is Common to Fail: There is a high risk of failure when launching a new company; 80% of businesses do not survive this stage. Mitigate risk where possible and be wise when investing personal resources.
7. Make sure your Kingdom and community impact are clear: This is your why.  Having a clear why will keep you motivated when you are phasing tough times. Your purpose for being in business must go beyond making money; it must be rooted in a deep calling to make an impact in the Kingdom and the world. 

As challenging as the startup stage is, it is also a fun and exciting stage. It is the stage of innovation and possibilities. All things are possible in this stage but to succeed, you must be very disciplined and pragmatic.  

My prayer for you today is that you will fully prepare yourself for the journey that is ahead, committing your work and service to the Lord, who prepared the good works for you to complete before the beginning of time.