The Eight Lessons of the Parable
There is much to be learnt from this important parable. At BizOil Institute, we place its valuable meaning at the heart of our offering.
1. Be open to help: From our own experiences, we know that the entrepreneurial journey is fraught with challenges. The business world is fluid and demands people who are open to learn.
2. Shut the door: Our Masterclasses and coaching sessions let our clients pause and shut the door on working in their business in order to WORK ON on their business. We provide an environment of respect and trust in which they can attain an objective view of their business. From this vantage point they are able to innovate, plan, revise goals and formulate strategies that will maintain business momentum. This is no luxury. It is essential to business success.
3. Discover your Oil: “Tell me, what do you have in your house?” The parable asks us a powerful question. At BizOil Institute we help our clients discover and appreciate their own oil, that is, their own talents, skills, relationships and resources. They develop themselves constantly and then use those inner resources as well as outer resources to build profitable businesses.
4. Possibility Mindset: The widow took a leap of faith and did something that didn’t, initially, make sense to her. We enable our clients to find new ideas, new opportunities, and new results. They open up and move out of their comfort zones in order to achieve the amazing.
5. Abundance Mindset: There is no limit to opportunities for growth if we seek them.
6. Relational capital: The widow learnt the most important lesson of creating wealth: business is about people and relationships. Even with technological advances, people need human interaction and outstanding business relationships to succeed. We encourage our entrepreneurs to connect and collaborate so that they may build this relational capital which is a critical source of competitive advantage, income, referrals and repeat business.
7. Sales: No business can survive without sales. We agree with the assertion that “sales are the heartbeat of every business, the oxygen to the brain of your financial future”. We equip our clients with skills to understand their customers’ needs. We coach them to communicate their offering so that they can consistently convert prospects into long-term and loyal customers. We help them grow sales in their businesses.
8. Money Management: “Go, sell the oil and pay your debts. You and your sons can live on what is left.” At BizOil, our end goal is financial freedom for our entrepreneurs.