He told his wife he’d be a millionaire by age 30. But that year he was forced to file for bankruptcy protection. Phil Drake worked a feverish 100 hours a week — his business’s debt was six times as large as its income. His wife was left to care for their three young children — living on food stamps. And the IRS was knocking at their door — threatening to shut him down. He thought about suicide. At least the insurance money would let his family eat. For Phil, “business and faith were not connected. God was only there for emergencies. I did not think of God as wanting to be a part of my everyday business.”
But then at his lowest point, everything changed! Phil heard Larry Burkett’s teaching about the moral obligation of debt repayment, even when bankruptcy obliterates the legal obligation. The message resonated in Phil’s heart — and he prayed: “If You, God, will take care of my business, I will take care of Yours.” With God as the new focus of his business, Phil began the torturous process of paying back every last cent. It took six years. But those were years of tremendous spiritual growth for Phil. And the Lord proved Himself faithful! Today Phil is one of God’s choice business leaders, the owner of multiple companies and an investor in others. Everything is surrendered to God. And “we avoid debt like the plague,” he says.
Through Crown’s ministry, we’re teaching business leaders the life-changing principles and practices of operating a company according to God’s Word — a concept that originated through Larry Burkett’s classic, Business by the Book. The need is great and we are looking for the next group of business leaders, executives, and consultants for our Business Leader Summit and Academy. Please visit our Summit Page for more information.