One of the greatest challenges that comes with success in business is managing profits. On more than one occasion business owners have asked for guidance on what they should do with “all this money we’re making.” It is a nice problem to have but the ramifications are profound.
Naturally, the answer is dependent upon how your organization is structured [public or private], business lifecycle, reinvestment needs, growth objectives, and other factors of your present situation. Yet there is a tried and true principle that embodies the tenets of what is known today as Conscious Capitalism that will bless you, your business, those you serve, and the communities where you operate in unimaginable ways — Gleanings.
An inspiring example of the principle of Gleanings is found in the Old testament book of Ruth. Destitute in an alien land, Ruth, the Moabite [foreigner] daughter-in-law of the Hebrew widow Naomi, finds sustenance for her and her mother-in-law by gleaning in the field behind the reapers. As providence would have it, the field is owned by a kinsman of Naomi, Boaz, who upon learning of Ruth’s identity and witnessing how hard she is willing to work, orders the reapers to leave behind even greater rewards. Ruth and Naomi, faced with homelessness and starvation, are spared the shame and ill-effects of their poverty through the kindness of Boaz.
Now when you reap the harvest of your land, you shall not reap to the very corners of your field, neither shall you gather the gleanings of your harvest.” [Leviticus 19.9, NASB version]
How does this relate to your business? Rather than harvest all of the profits of your business, share some with your employees who made it all possible. And do so generously. Moreover, look for ways to engage those in the community who are struggling to make ends meet in a similar fashion. Not by doling out charity. But by finding ways to allow them to share in the bounty through their own sweat equity.
If you are like most business people, the concept of Gleanings and how it could possibly benefit your organization is difficult to grasp let alone fit into a capitalist worldview. If that is the case, but you want to know more, please do not hesitate to contact me. I can demonstrate how committing to a higher purpose than profit will enrich your life and the life of your business in equal measure.
MindMeld provides expert advisory services relative to business strategy, business process management and innovation, organizational development, and sales and go-to-market strategy. To learn more contact Doug Knuth at doug.knuth@mindmeldmarketing.com.