Brad Formsma ran a business for years, and then felt a calling to help other people become more generous. He founded I Like Giving which resulted in Brad connecting with hundreds of high net worth individuals, and his ability to offer the best and worst practices approaching high capacity givers.
Brad shares how to get over the intimidation many leaders feel when dealing with wealthy people and offers some wonderful insights on how everyone can live a more generous life, some of which have nothing to do with money.
Welcome to Episode 279 of the podcast. Listen and access the show notes below or search for the Carey Nieuwhof Leadership Podcast on Apple Podcasts or wherever you get your podcasts and listen for free.
Cultivate Generosity – A Course for pastors to help teach, model and celebrate generosity.
3 Insights from Brad
1. Generosity helps the giver just as much as it helps the receiver
One of the biggest reasons people hold off on giving is that they are afraid there won’t be enough at the end of the year. There is a serious temptation to be cheap and label it as “being a good steward.” Don’t do that. Be quick to give. Brad recommends that you live with an abundance mindset and not a scarcity mindset.
An abundance mindset trusts the biblical truths that say “He who refreshes others will himself be refreshed. A generous person will prosper.” This has also been backed up by Stephen Post. He had a study show that you live 10 years longer, and take half of the medicine if you are generous in three ways each week. Those with an abundance mindset really do prosper.
2. Generosity is so much bigger than just money
Often times people think the only major way one can be generous is with money. Brad encourages people to take part in 7 major ways to be generous. Money is only one of those forms of generosity. Here is the list:
Generous with thoughts
Generous with words
Generous with money
Generous with influence
Generous with time
Generous with attention
Generous with stuff
When you begin to live out all 7 of these forms of generosity, your life will improve exponentially.
3. How should leaders talk to their top donors about giving?
One key Carey has learned is that every time you open your mouth about money from the platform should not be when you need money. Similarly, the only time you talk to your top donors should not be when you are asking for money. Talk to them often about other things. The authentic relationship you are building should fuel their giving. Top donors don’t want to be seen as an ATM.
All the people that Brad knows who have wealth love to be asked to give as long as they know they are not the only ones being asked. They want to know that other people are as bought into the vision as they are. As a leader, this is a tension you have to manage. These people also want to see the results of their giving. Brad recommends clearly reporting to givers how their gift was used.
Quotes from Episode 279
Looking for a key quote? More of a reader?
Read or download a free PDF transcript of this episode here.
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Next Episode: Ron Edmondson
It’s easy to write off a stuck or plateaued church as irrelevant or bound to close, but that’s not what happened when Ron Edmondson became senior pastor of a church of 1000 in Lexington Kentucky. Under Ron’s leadership, Immanuel Baptist grew from 1000 attenders to over 3000 in six years and is firmly positioned for the future. Ron explains the keys to turning a church around, how to handle critics, and we talk about his new job as CEO of Leadership Network and how the leadership landscape is changing.
Subscribe for free now and you won’t miss Episode 280.