Doing Business the Mormon Way
Personal Preparation
Since business or any other field begins first with the people involved, to understand the way a Mormon business operates first requires a look at the core of business: The Mormon businessman. What makes a Mormon businessman the way he is? Why does he perform the way he does?
- Confidence in Public
Mormons believe that success, in business or any other endeavor, depends a great deal on preparation. For one thing, Mormons believe being well prepared gives them confidence. “If ye are prepared, ye shall not fear” is a motto that they live by, even in business.
Training the Saints to confidently speak in public comes early. It's common to see pre-schoolers at the podium facing dozens of people as they give short talks, sing, or otherwise perform. They learn early to feel comfortable with people even in large groups. Those opportunities continue as they mature and grow, so it's not rare to see many Mormons not only in business but in the performing arts and politics.
- Education
Preparation for the Mormon businessman stresses getting as much education as possible. But Mormons believe that everyone, even if those planning to “only” stay home and teach their children should learn as much as they can. Latter-day Saints in Utah statistically have a high rate of college degrees and advanced degrees and have established a Perpetual Education Fund to help disadvantaged Saints around the world obtain training and education so that they may be productive and successful.
Many Mormon businessmen point to the Church missions they served as a training ground for their lives in business. Most of them earn the money to cover their expenses for their two-year missions, so they develop a strong work ethic. They focus on a clear goal and are committed, dedicated, and determined to reach it. Missionary work also develops other qualities like self-discipline, persistence, and patience. As they meet people and encounter hardships, rejection, and persecution, they learn to be undaunted problem solvers who overcome the obstacles they face. They learn to be creative, organized, and good with time, money, and people. They learn compassion and respect for others of diverse backgrounds and beliefs and to serve them even if unappreciated. They also learn self-respect as they understand that they can make positive changes in individuals and the world. A collateral effect of young LDS serving missions is that they learn to be leaders. Missions become a Mormon finishing school, basically a course in executive training.
Doing Business
- Treatment of Employees
All that LDS learn from being Church members is, or should be, carried over into their work life, and nowhere is it more important, LDS believe, than in the treatment of their employees. LDS who conduct their business the Mormon way are friendly, courteous, and cordial with their employees, not from a business strategy but a sincere liking of and concern for their employees' health, safety, and happiness. A Mormon businessman is concerned with the individuals that he leads and makes an effort to get to know them. He develops a rapport with his employees that motivates them, so not only does he never try to exert undue authority over them, he also would feel no need to because they're already accomplishing all he could want. He never sees his employees as an adversaries but partners who contribute their time and talents to the success of the business and so should be rewarded not only with the correct amount of money but with recognition and appreciation. He treats his employees as equals to himself, with no class distinction, and shows no favoritism among them. One of his strengths is that he values training. He knows that he can't expect something without first making sure his employees know what he expects and how to provide it. He never screams, swears, or abuses. He values the dignity of each of his employees. He soon learns that treating his employees well is good business because they become loyal, hardworking, honest employees who help him build his business.
- Treatment of Customers
The way an LDS businessman treats his employees coincides with the way he also treats his customers, whether they be the public or other companies. In his dealings with customers, he is also friendly, polite, sincere, honest, consistent, and concerned with individuals. His customers know what to expect from him. They know that he is dependable and is as good as his word. He gives them good service and is appreciative of feedback they give him. He respects them and, in turn, they respect him.
Summation
All in all, doing business the Mormon way is really following the Golden Rule and other gospel principles. Church authorities require LDS businessmen to be honest in their dealings. They counsel them to treat others fairly and kindly. They stress that anything less is not the Mormon way of doing business--or of living.
