Still Trying to Decide Between For-Profit and Non-Profit?

After reading my popular post, 16 REASONS TO CONSIDER A “FOR-PROFIT” STATUS FOR YOUR MINISTRY, are you still trying to decide which direction is best for you and your ministry? Trying to choose between the for-profit and non-profit status is one of the most important decisions you will make in your ministry and business. It sets the stage for how you succeed in the future.

Why is this decision so important?

It’s important because when you identify as a business, you seek to make a profit. You set up your business as a sole proprietor, LLC, Corp, or other entity. You pay taxes and use sound business principles to provide services or goods to your customers.

A New Marketplace Ministry model is still a business. The difference is that your service to God happens within the structure of your business. In other words, you work and serve at the same place.

For example, I have a marketplace ministry, which is an insurance agency. As a business, I earn money, pay taxes, and function just like any other business. However, it’s not just any other business because my clients enjoy the benefits of my ministry – at no cost to them.

How can you do the same?

For this to work, you’ll need to know your spiritual gifts. Then, you structure your business goals in alignment with your spiritual gifts. For example, my spiritual gifts are encouragement, teaching, evangelism, and discipleship. In my business, most conversations are about the future, vision, planning, and sometimes loss. I offer training, speaking, and spend the time needed to help my clients gain a vision for their future. My gifts have an open field of opportunity in my business. As the conversation continues, I invite people into a deeper spiritual experience through my Bible Study and other resources.

Ask yourself, “Will my gifts have the opportunity to flourish in my business?” For your Marketplace Ministry to thrive, that answer needs to be, “Yes.”

You are the one who decides how your ministry functions in your business.

But before you even think about finalizing your decision, reflect on what God is calling you to do.

Using your gifts to serve God, to serve others, and glorify His name on the earth is the core of what we do in Marketplace Ministry.

Ready to move forward?

First, be sure to read my popular post, 16 REASONS TO CONSIDER A “FOR-PROFIT” STATUS FOR YOUR MINISTRY. It gives you the background to understand why this decision is so important.

Next, think about your ministry and your business ideas.

Then, pray for God to give you ideas and concepts to bring them together.

Now, use good, sound business principles, and combine those principles with your ministry goals and smart ministry strategies.

Write down your objectives and begin one step at a time. Allow yourself the time you need to learn. Give yourself time to grow.

What’s important is that you get started.

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