#SucceedingWithoutBleedingSeries #WorkplaceSurvival #TIMELESSBusinessGoals
#SOG 2: Set Financial Priorities
TIMELESS PRINCIPLE supports preference structure for paying creditors, employees, and owners. In time of liquidity challenge, the question is, who get paid first?
Right! We’d look at the order of settlement. The first preference will be to Pay Suppliers. You’d ask why pay suppliers first, when have got my employees to pay, importantly get the business going?
Great question! Suppliers who provided resources to us on credit have the right to any available income from the business. And we have got to be honest with them.
Proverbs 12:22 Advisory, puts it aptly:
“Lying lips are extremely disgusting and hateful to the Lord, but they who deal faithful are His delight.”
It is important that our payment system is in compliance with TIMELESS PRINCIPLES (GOD’S WORD).
Again, since our suppliers have provided the materials, it means they have already invested their time and money and therefore holds the position of highest honor financially.
Here is what Proverbs 3:27 Advisory Services has to say:
“Withhold not good from those to whom it is due [its rightful owners], when it is in the power of your hand to do it.”
I’d see you tomorrow BHG on settlement preference order.
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#SucceedingWithoutBleedingSeries #Business-WorkPlaceSurvival #TBG