Greg Stipe is a new friend of the past 2-3 years. He is an entrepreneur who sold his sales training business several years ago. Since then Greg has led businessmen’s roundtables (Trac 3) and done consulting. I love the heart he and his wife Deborah have for Christ. Enjoy this teaching he researched from C.S. Lewis on questions to ask about money.

In Christ,

Boyd

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Questions About Money:

1. What are the risks of making a windfall of money?

2. What has been your experience with people who have come into a lot of money?

3. Are there any verses in the Bible that apply to this situation?

C.S. Lewis made a decision to give away all of the proceeds of his books before he sold the first one. Why? Because he was deathly afraid of what money could/would do to him. Are we afraid of money like him? How would you describe our attitude toward money?

Hebrews 11:6…without faith it is impossible to please God. Where are we tempted to “trust” if we have a great deal of money? How can we fight this?
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“What is your attitude toward giving your money to the work of God and to the needs of others? Like many of us, C.S. Lewis experienced some struggles in this area: “I’m a panic-y person about money myself (which is a most shameful confession and a thing dead against our Lord’s words) and poverty frightens me more than anything else, except large spiders and the tops of cliffs…”

1. Yet Lewis also realized that his fears were a hindrance to faith. “For many of us the great obstacle to charity lies not in our luxurious living or desire for more money; but in our fear—fear of insecurity. This must often be recognized as a temptation.”

2. The temptation to which Lewis refers is that of trusting in ourselves and our material resources for security in life, instead of trusting God. This is a perennial temptation for our human nature. The problem, of course, is not what we have, but what has us. And, our attitude toward giving is a very good barometer of what has us—where our trust really lies. Thus, for the sake of our souls we need to give. Not only for the advancement of God’s work and the good of needy people, but also for our own spiritual health.

This is exactly how C.S. Lewis dealt with the matter in his life. Though few people know it, Lewis lived a very modest life and spent very little on himself. He gave away the royalties from his books to a foundation set up for this purpose. Again and again, needy students at Oxford would find anonymous gifts of money slipped under their doors.

How much should we give? Lewis suggested it is better to consider the manner in which we should give: “I do not believe one can settle how much we ought to give. I am afraid the only safe rule is to give more than we can spare. In other words, if our expenditure on comforts, luxuries, amusements, etc., is up to the standard common among those with the same income as our own, we are probably giving away too little. If our charities do not at all pinch or hamper us, I should say they are too small. There ought to be things we should like to do and cannot do because our charitable expenditure excludes them. I am speaking now of ‘charities’ in the common way.”

3. Giving can be a great joy and an exciting adventure if we will follow the teaching of Jesus and the example of C.S. Lewis. And, it will help us grow deeper in a living faith in God.

Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be put into your lap. For with the measure you use, it will be measured back to you. Luke 6:38 NIV

Jim Balkcom is a friend of 5 years. He is a very respected businessman and loves Christ. Below is his bio and thoughts on building a Board of Directors for your business.

In Christ,

Boyd

How to Build Your Board of Directors

It’s not easy building a high tech startup. But here’s a tip: When choosing your board, take the time and energy to make solid choices. Picking the right players for your board is critical for your company’s success and will save you many headaches down the road.

Here are some suggestions to make sure your board is a good one:

View the board of directors as an independent body

One of the most common mistakes by entrepreneurs is to “stack” the board with members friendly to their cause. While it may be comforting to know that your position is “secure” regardless of how well or poorly you are executing your duties, it deprives you of the opportunity for an honest, independent performance appraisal. An independent board is in the best position to take an unbiased view of the company’s and the CEO’s performance.

Compose the board of directors of outside members only

Sensitive issues arise in any company. Some of them may be related to the performance of key executives or the CEO. Others may be directly related to the future of the company, i.e., succession issues, financing alternatives or merger/acquisitions. These issues are best handled when the CEO is able to speak freely with his board and seek advice without other members of the management team present. A board with too many representatives from management, in our experience, is far less effective and often results in second-guessing and behind-the-scenes discussions and maneuvering.

Seek a balance of skills on the board

If you raise money from professional venture capital investors, they will usually request a board seat to look after their investment. Most reputable venture capitalists have experience in serving on multiple boards and can be of substantial value to your company. However, they are not likely to be experts in your specific line of business. Seek to balance the board’s composition by adding someone with experience in your market segment. In addition, make sure to include one director with a strong financial background and another who is the CEO or VP of marketing of a successful company in a complementary business segment. These people can provide insight not only on issues specific to your company, but also provide a broader perspective on industry trends, etc.

Communicate frequently with the board members

A board will function best when it is prepared, i.e., the members are up-to-date on the state of company and have had time to think through the major issues. One of the worst mistakes for an entrepreneur is to surface major bad or unexpected news during a board meeting. This forces board members into a reactive posture and doesn’t give them adequate time to reflect upon appropriate alternatives. We always encourage the CEOs of our portfolio companies to call all directors beforehand with a brief overview of the major topics to be covered at the board meeting. If possible, provide all board members with necessary materials for review well in advance of the meeting.

Actively seek involvement of the board

Too many companies view their board as window dressing and board meetings as a nuisance in which the management gives carefully rehearsed “dog and pony shows.” Qualified board members have a wealth of contacts that the CEO can and should tap into, whether potential customers, partners or additional investors. Outside board members can be effective in evaluating the company’s strategy and a valuable resource in recruiting other members to the management team. Don’t hesitate to ask and insist on their involvement in specific issues. If board members are unable or unwilling to spend the time necessary to help the company and/or CEO, they shouldn’t be on the board in the first place.

Listen to advice from the board

The board of directors is a legal structure that provides a fiduciary oversight of a company on behalf of all shareholders. Most of the time the board will agree with the strategy and actions proposed by the management. Sometimes, however, the board may disagree and even insist on a course of action that is different from the one proposed by the CEO and the management team. Heed the advice of your board members. They are not after your job, but are merely doing what is, in their judgement, in the best interest of the company and its shareholders.

If you treat your board of directors as an adversary that needs to be overpowered and controlled, you miss out on the value they can provide. But if you see them as an ally, you’ll be able to tap into a significant resource base with a tremendous payoff to you and your company.

Jim Balkcom is an Executive Coach, Leadership Mentor and Consultant. He is currently serving as the Civilian Aide to the Secretary of the Army along with running Corporate Psychology Resources, Inc. He is the Founding Partner of Council Ventures, L.P., CEO Council and Investment Committee 2001-Present and serves as the Chairman for Ikobo, Inc., Online Money Transfer. He has also served as the Director of eVault, Inc., the leading provider of online data protection and quick recovery services and software. A native of Atlanta, Ga., he resides here with his wife of 41 years, Linda. They have two daughters and four beautiful grandchildren. Jim is also a graduate of West Point and served in Germany and Vietnam, being awarded numerous medals for his service.

I was fascinated and encouraged by this brief article on faith influencing our nation in the November 30, 2007 edition of the Wall Street Journal. The article is titled “The Currency of Faith: How one man put God into Circulation.”

I have always been intrigued by God’s influence on our American culture and our brief history as a nation. For 1996 Atlanta Olympics, our family purchased a $35 brick with the inscription “In God We Trust.” Our family believes his posture of dependence on God is a bedrock for the Lord’s continually favor on families and governments. Therefore, as we look to men and women to lead our Nation, let’s ask God for those who embrace and cherish our heritage of honoring Jesus Christ by embracing his values and principles for living. “In God we Trust” is not a trite or passing phrase. It is commitment to Christ and His grand scheme of things. Lastly, it is a reminder, because it is embedded on money, to make and manage money well. This will one day invite the affirming words of Jesus, “Well Done”!

More details and supporting information can be found on the Department of the Treasury site.