Thriving on Goodwill

Daily Devotional – Saturday, November 26, 2022
A good name is to be chosen rather than great riches; loving favor rather than silver and gold.
Proverbs 22:1 (NKJV)

My friends and I were looking for a premise for our proposed consulting firm. We visited many established and upcoming buildings but did not find a suitable space. Most of the rooms we found were either too expensive or located in the backstreets.

The Value of Reputation and Experience

Thankfully, an acquaintance who knew and sympathized with our desperate search came to our rescue. He knew exactly where we could settle in. A successful consultant with a similar business as ours was moving out and was willing to ‘bequeath’ his office to us.

We met our more experienced colleague and had a nice chat. We agreed to buy his furniture and most of the equipment because he did not want to move out with them. “How much is everything you are selling to us? I asked. “We want to start operations immediately.”

Gaining Competitive Advantage

“Not so fast,” he said. “You have to pay me goodwill.” Then he quoted an astronomical figure—four times the value of the materials we had agreed to purchase. “What did you expect? That I would let you continue thriving on the good name I have created without compensating me?” The consultant asked.

According to Investopedia, “goodwill represents a certain value (and potential competitive advantage) that may be obtained by one company when it purchases another.” Up until then, I had not realized that a good reputation could have monetary value, let alone the figure the man had quoted.

A Good Name is Better than Riches

Millennia ago, King Solomon, through the inspiration of the Holy Spirit, stated, “A good name is to be chosen rather than great riches; loving favor rather than silver and gold.” (Proverbs 22:1).

Our senior colleague was reaping from the good name or reputation he had built in consulting over the years. Since we would inherit his customers and build our business on his work, he demanded that we compensate him.

Thriving on Goodwill

We may not be in business, but we, too, need to cultivate good reputations and names wherever we are. It begins with how we speak to and treat others. If we show empathy and kindness to people, they will treat us in kind at the right time. Goodwill opens doors of opportunity for its possessor.

In addition, it matters what people know and say about us as Christians because it reflects our faith in God. Our goodwill is an asset to the kingdom of God. This assert is more valuable than gold, silver, or any possessions money can purchase. As children of God, we need to thrive in goodwill.

Prayer
Lord Jesus, teach me how to build a good reputation and to thrive in goodwill that others may be attracted to you through my conduct.