The story of Joseph in the book of Genesis is written in more details as it compares to other Old Testament characters. Joseph’s story teaches so many lessons in many areas of life such as difficulties, failures, disappointments, success, power, abundance, and prosperity. His life story also teaches business lessons that we can apply today. His entrepreneurial characteristics can be noticed on many occasions from the scene of his arrival to Egypt until he became the second in command in all of Egypt.
Let’s look at business lessons from Joseph’s life:
1. He helped Others to Prosper
The record in Genesis 39:5 says, “From the time he put him in charge of his household and of all that he owned, the Lord blessed the household of the Egyptian because of Joseph.” Joseph had the ability to prosper others, and in this case, Potiphar. If we are going to read the whole context of the story, Potiphar’s household, including the field, prospered because of Joseph. What life lessons and business principles that we can learn at this point? Success is measured by how much effort and resources are given for the success and prosperity of others.
2. He was a Creative Problem Solver
There was a serious massive problem Egypt had to face. It all began when Joseph interpreted Pharaoh’s dream. The meaning of the dream, according to Joseph’s interpretation: there will be seven years of abundance followed by seven years of famine. It is recorded in Genesis 41:29-30, “Seven years of great abundance are coming throughout the land of Egypt, but seven years of famine will follow them.” The problem was not the years of abundance but the seven years of famine. Again, if we read the whole story, Joseph proposed a creative solution to the said problem. What was the solution? To save during the years of great abundance. In Genesis 41:34, “…take a fifth of the harvest,” it means save 20% of all income. Joseph’s idea was so unique that he was automatically appointed second in power only to Pharaoh himself.
3. He was a Great Innovator
Another lesson that we can learn from Joseph was his ability to invent. He was a great innovator! In Genesis 41:35, “They should collect all the food of these good years that are coming and store up…to be kept in the cities for food.” The building of store cities was an excellent idea. Today, that idea is similar to the concept of putting the money into the bank or into a trust fund, insurance, and the like. If Joseph lives today, definitely, he is a “rock star” in the world of business and entrepreneurship.
4. He was an Excellent Trader
Genesis 47:13-26 tells the story that the Egyptians gave their livestock and lands to Pharaoh in exchange for food. Joseph was not just an innovator, he was also an excellent trader. Trading is a transaction that endured until this generation. Joseph brought about a permanent change in the Egyptian system of land tenure because of the famine and the consequent poverty of the people so that almost all the land became the property of the Pharaoh, and the previous owners became his tenants. Today, trading of gold, currencies, oil, and many others are multi-million dollar business.