Dr. Richard Goossen recently interviewed Richard Magnussen, CEO, Magnussen Furniture, Kitchener-Waterloo, ON, Canada as part of ELO’s ongoing research regarding Christian entrepreneurs in the marketplace.

 Founded in 1931 by Richard’s father, Magnussen Home began as a small maker of occasional tables and has grown to become a leading full-line furniture supplier generating over $100 million in business. The Company website explains: “Understanding that retailers require more than just products to fill their floors, we have built our business on three enduring core value: trust, honesty and respect.” Through more than 20 years of experience in offshore sourcing, the Company has developed unparalleled manufacturing relationships and capabilities. Today, Magnusson creates innovative furnishings and programs that enhance customers’ lifestyles.

 Here’s a few of the questions addressed by Richard Magnussen.

 How do you describe the impact of your Christian faith in terms of how you find or define meaning in the context of your entrepreneurial pursuits?

 I honestly believe that I am called. God puts you in a position where you can use your passion. You really have to line up His rule more with your own; but He gives you a lot of flexibility. I think that if we are passionate about pleasing Him there are a lot of dots that we can stand on and do our business.

 When I was 22 and very young in the business, my motivation was that I wanted to make a ton of money. My family was never really wealthy and I had all kinds of drive that I didn't know that I had. When I got involved in my father’s business and saw that I could make money my whole motivation was money. That changed dramatically, however. I became very convicted to the point where I can remember when I was 22 I knelt in our company factory. I was there by myself and I asked God to forgive me. It was interesting because the very next Sunday at church there was an opportunity to contribute some money for missions. I was always waiting to be financially successful before I donated. That attitude changed that day. I ended up giving $5,000 to this particular mission project. That was a lot of money at that time given the small size of the business. I learned very early on that I needed to give.

 The second lesson that happened within a month occurred when I crossed paths with somebody collecting money for missions. I had a sensitive heart. In a shopping mall there was a group collecting money for a mission. I was getting my wallet out and I realized too late that it was the Hare Krishna that was asking for money. I felt so bad. That is where I learned the other lesson: you have to be a good steward. Just the emotional feelings of giving is not enough; you have to understand what you are giving to.

 So, those two lessons in my early 20's really helped me in foundational learning lessons. So when I look at organizations that need money I want to see their business plans, I want to see their budgets, whether they are sustainable and what percentage of their income goes to overhead versus gives to the need and the cause. I take stewardship very seriously.

 Who, if any one, affirmed your sense of direction in your entrepreneurial pursuits?

 I would go to my dad. My dad modeled persistence and the attitude that “it can be done.”

He overcame significant obstacles to start the business. My dad was sponsored by

Globe Furniture in Waterloo to come to Canada in 1931 and then during the Great Depression he lost his job. He ended up buying a chicken coop, living in half of it and setting up his little shop in the other half. My dad had to overcome some big challenges. When we were in bad financial shape from 2007-2009 I often said to our employees that this company has been in a worse places, like with my father in the Great Depression.

 I also had a mentor who was a teacher at Conestoga College. He and I got along really well and he was a great mentor to me. When I had issues, even after I was done school, I would ask him for his opinion.

 As a result of being a Christian entrepreneur, how has your approach to entrepreneurship changed?

 I have always been a Christian entrepreneur. I can't say I wasn't and now I am and how that has changed me. The Lord evolves you over time and you continue to grow. I think that overall as a Christian entrepreneur you are more teachable. If you read Proverbs it is about accepting criticism. I think all of those things influence you if you want to be a good entrepreneur. It is all about people. As John Maxwell says, his number one thing of leadership is influencing people. I totally agree with him. You need to influence people to get your idea across.

 We focus on values. Our stated values are trust, honesty and respect. We have it on our business cards. I didn't want to put it on the business cards, but my people insisted. I said that I would rather walk the talk. My managers wanted it there because it was a good reminder to my managers that this is how we will be judged when we let the world know what is important.