More Lessons From David Green Of Hobby Lobby

In a recent post, I shared an article from The High Calling (a Christian blog community). The article was an in-depth interview of David Green, founder and CEO of Hobby Lobby. Because the article was so long itself, I did not expound on it in that post. Instead, I am taking a more detailed look in a short series of posts.

David Green

While I have never met David Green, based on the articles I have read, there is plenty there is plenty we can learn from him! In fact, the more I read about the Hobby Lobby story and David Green’s leadership, the more I want to model our business after his. Hopefully you will learn something from this short series of posts as we dig a little deeper into Green’s story.

In reviewing the interview article, I found what I believe to be 15 clear lessons for anyone attempting to integrate faith and business. Though each of us has different situations and challenges, I think you will quickly see that these lessons span across industries and business sizes. In my last post, I took a look at the first five lessons I saw in the interview article. Today, we will review the next five lessons.

Let’s dig right in!

#6 – Learn from mistakes

I bet you have never heard this one before, have you? I know this is supposed to be common sense, but I have not found it to be that common. Too often, we are guilty of repeating our mistakes. At least I am.

Note what David Green said when asked about learning opportunities. He talked about how his company almost lost it all when they stretched too far for growth. He did not dwell on this point, but I will.

They survived that time period, but made the decision that they would be debt free in the future. That is a huge decision that impacts virtually every other financial decision in a business. Sacrifices are made and “deals” are passed up that would require debt. This is no easy lesson.

By the way, what do you think David Green is saying about this decision after what we have been through the past several years. Regret? I don’t think so!

#7 – Simplify your priorities

Again, this is not rocket science here. We hear this a lot, but do we act on it? In many cases, we get so elaborate with our plans, for Christian ministry or business, that we tie ourselves in knots. We start out feeling great about our strategic plans, but before long we are confused and paralyzed.

Instead, David Green tells us that he and his company had three simple priorities for using their cash: pay tithes, grow, and pay debt. Folks, that is as simple as you get. No confusion here, just simple priorities (based on Scripture as well!).

#8 – Plan for the future

In addition to preparing for their future by paying down debt, David Green and company also made sure to set goals and budgets for their future.

I have heard many managers and leaders claim that forecasting and budgeting is too difficult given today’s uncertain business climate. I simply disagree. Sure, it is more difficult! But that does not mean we should not even try!

Even with the uncertainty, there is huge value in laying out the budgets and forecasts and the game plan to back them up. Make adjustments along the way as conditions change, but do not give up the planning altogether!

#9 – Take care of the people

If you will notice, Green spent twice as much time talking about how he is determined to take care of his people as he did in discussing his three uses of cash! That is significant. Without the people, there is no cash!

I am taking special note of this lesson myself. Based on the feedback I received in our recent employee focus groups, there are some areas related to this subject that we need to address.

Our goal here (for all of us) should be to base our decisions here on Scripture. There are many ways to view this subject, but I think it is important we start by looking at what the Bible says. More on this later.

#10 – Have stated personal life goals

David Green had three stated personal life goals: have a strong marriage, be successful at what he did, and for his children to serve God.

He later added two more: for his grandkids to serve God and to tell as many people as he could about Jesus Christ.

I have talked at length about LIFE planning on this blog. If you have followed my posts on this subject, you know that I am a huge proponent of taking the time to state these personal life goals. Some people may be more detailed or complex in their goals while others keep it simple.

Either way, this is not a lesson to skip over. I encourage you to take the time and start this process. I think you will be amazed at what God will do in your heart as you do.

What comments would you add to any of the lessons so far?

Have you learned similar lessons on your own? How?

Which lesson is one you need to act on now?