Daniel Lapin is best known as America's Rabbi. In this episode, we discuss his book Business Secrets From the Bible. In the first segment, he defines “ancient Jewish wisdom” and then defines business, money, and wealth from a Biblical perspective. During the next segment, we contrast the spiritual and physical nature of business. In the last segment, we explore attitudes of wealth and the consequence of each.
The Definition of Wisdom
What is the most important thing you can share about pricing?
Business is too complex to have a single most important thing. One important concept is to focus on what you are delivering to the recipient. Become aware of the value you are creating for the other person.
What is ancient Jewish wisdom?
The Jewish people are disproportionally good with money because they have learned tips, tools, and techniques for handling money from the Old Testament. Business Secrets of the Bible was written to share that knowledge with everyone.
What is “business”?
Business is a person or organization that has customers.
What is money?
Money is a certificate of good performance. It is proof you have served one of God's children.
What is the definition of wealth?
“Rich” and “fair” do not have clear definitions because they are comparative. Wealth is similar. It depends on the context of the situation.
The Nature of Business
Why is business a spiritual activity, not a physical activity?
Because money is spiritual. It is an abstract metric of how much value is delivered.
What is the significance of 92 natural elements to business?
You can create the mission for a business by combining two other ideas. Almost everything you eat, drink or use is a combination of other elements or chemical compounds.
Why do you ask the question “How do you serve humanity?”
Because you do not work from a selfish motivation. You work to serve other human beings.
What is the relationship between morals and morale?
Morale is important because you cannot sell anything without a positive self-image. Morals, your perception of right and wrong, has a significant influence on your self-image.
What is the relationship between change and courage?
Most human beings like variety but resist change. Change is scary because it hurts. Courage helps embrace change despite fear.
What is the definition of courage?
Courage is the ability to banish the instinctive reaction to fear and function using your head, not your heart.
The Attitude of Wealth
What is the opposite of the Hebrew word for wealth?
If you read the Hebrew word for wealth backward, it is the word “wicked.” The lack of money is the result of bad decisions you made in the past.
Why is it important to feel right about money, rather than think right?
Emotions influence our actions more than ideas. You need to sow financial wisdom in your heart, so it becomes intuitive.
Why is it important to have different words for “earning” vs. “winning” money?
Making and taking money are two different things. Winning is simply good fortune. Making is a deliberate action to earn money by serving others.
Why should you listen to the speaker at graduation with caution?
The most common advice is to find something you love for a living. Instead, find something to serve other people and learn to love it.