Lecture Notes: Myron Golden on Business Principles

Introduction

• Speaker: Myron Golden
• Event: EdgeCon
• Key Theme: Business growth based on biblical principles

Key Concepts

Business Based on Biblical Principles

• Take business to the ultimate level using biblical principles.
• Everything created by God is designed to succeed.
• Business is a God idea; sales and wealth creation are God ideas.

Wealth and Business

• The primary purpose of a business is wealth-producing profits.
• Wealth is abundance and a means to leave a legacy (inheritance).
• Wealthy mindsets are supported by biblical references.

Wealth in the Bible

• Providence: Wealth provided in advance (Gold in Genesis as God's provision).
• Possession: God's people are meant to possess wealth.
• Proof: Wealth as proof of God's blessing (Example of Eliezer showing Abraham's wealth).
• Provision: Wealth in hands of non-believers is meant to eventually serve God's people.

Business Principles: Basic Five

1. Wealth-Producing Profits

• Wealth is a God idea, meant for abundance and prosperity.

2. Two Types of Businesses

• Service-based and Product-based
• Convert parts of a service-based business into products for scalability.

3. Three Functions of Business

• Innovation: Creating products/services the market craves.
• Marketing & Sales: Most important function; generating interest and closing deals.
• Money Management: Ensuring outgo does not exceed income.

4. Four Ways to Grow a Business

• Lead Generation: Increase the number of potential customers.
• Lead Conversion: Improve sales processes to convert more leads.
• Customer Ascension: Offer higher value products.
• Customer Retention: Use continuity programs (subscriptions) to retain customers.

5. Five Ways to Establish Authority

• Write a Book: Establish expertise.
• Create a YouTube Channel: Build a presence.
• Instagram Profile: Engage a broader audience.
• Clubhouse and Podcasts: Modern platforms for engagement and authority.

Lessons from Apple's Business Model

• Customer Acquisition: Focus on getting new customers.
• Customer Awe: Deliver exceptional experiences.
• Customer Assembly: Regularly engage customers through events.

Miscellaneous Insights

• Role of a Father: Provider, protector, promoter, and progenitor in the family and community.
• Wealth Misconceptions: Wealth is not evil; it's a biblical concept.
• Satan and Kingdom Building: Satan uses twisted truths to mislead; God’s truth empowers believers.
• Education on Principles: Teaching should focus on principles over tactics and strategies.

Conclusion

• Myron Golden encourages using biblical principles to guide business strategies and personal growth.
• Offered a challenge to learn how to create and make more offers to grow a business.