Episode 6: Kingdom-Minded Succession
Faith, Business, and the Great Wealth Transfer
In this episode, StoryOne partners John Christensen and Cameron Bond sit down with entrepreneur and ministry founder Rick Boxx to explore what a kingdom-minded business transition can look like. They talk about the Great Wealth Transfer, why succession is so emotionally hard for business owners, and how to think beyond mere financial valuation to preserving culture, calling, and generosity. You will hear stories of faith at work, practical tools for including charitable giving in an exit, and a clear challenge to ask, “What would God want for this business, and these people, when I step away?”
Show Notes
[00:05:00] – Biblical Business Principles in Action
Rick shares how working for a bank president who quoted Proverbs changed his perspective on faith in business
Key quote: “The Bible’s the best business book you’ll ever get your hands on if people would just read it through the lens of a businessperson.”
[00:10:35] – The Faith-Work Integration Gap
Discussion of Barna research showing only 28% of Christians integrate their faith at work
Key quote: “So many people spend more than 45% of their waking hours in the workforce. That’s where their deep relationships are, and that’s where the opportunity is.”
[00:16:22] – The Great Wealth Transfer Reality
Exploring how the anticipated wealth transfer is happening slower than expected but still significant
Key quote: “I think that’s because people are pushing back retirement further and further for a variety of reasons.”
[00:18:27] – The Emotional Side of Business Succession
Rick explains why business business owners get offended by initial offers, regardless of value
Key quote: “You need to realize that this has been your baby, and whenever you get your first offer, you’re gonna be offended.”
[00:19:42] – Kingdom-Minded Succession Planning
How to approach business transitions from a stewardship perspective
Key quote: “God owns it all, and if that’s true, then God owns your business. How do you really want to navigate this?”
[00:31:56] – The Stanley Tam Story Impact
Rick shares how telling the story of a businessman who gave away 100% of his business inspired immediate action
Key quote: “Three of them on the spot said, ‘how do I do it?’ I’m like, what do you mean? And they’re like, ‘no, I wanna know who do I call to start this process.'”
[00:37:54] – Balancing Profit and Purpose
The challenge of maintaining company culture while maximizing sale value
Key quote: “If I truly view my work as I’m a shepherd over this group of people, and if I cash out and sell it to somebody that’s gonna come in and just utterly gut this place, how good of a shepherd really was I?”
RESOURCES MENTIONED:
- Unconventional Business Network: unconventionalbusiness.org
- Leading Assessment Tool: Available on UBN website for self-evaluation
- YouVersion Bible App: Features UBN reading plans with nearly 500,000 subscribers
- “God Owns My Business” by Stanley Tam: Book about businessman who gave away 100% of his business
- Faith Incorporated Conference: Annual national conference in late April
KEY TAKEAWAYS:
- Only 28% of Christians effectively integrate their faith into their work, creating a massive opportunity for kingdom impact
- Business succession planning should consider both financial outcomes, culture and legacy
- The Great Wealth Transfer is happening but slower than anticipated as business business owners delay retirement
- Entrepreneurs have tremendous influence and platform for ministry through their businesses
- Succession planning requires addressing both business transition and personal purpose after exit
- Kingdom-minded transitions prioritize stewardship over pure profit maximization
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