Preparing For the Storm: Part IV

In this series, we’re discussing preparing for economic storms. We’ve discussed getting closer to your customers and hiring freezes, the third step you might consider is to trim expenses.

In 2009, the economy was crumbling. For those who adjusted and weathered the storm, I heard many tell me a similar story.

They discovered that during the good times, they had taken their eyes off their expenses. They discovered that when they had plenty of money, they begun spending recklessly.

The prudent were able to trim operating expenses and significantly improve their bottom line, protecting their business.

1 Corinthians 4:2 teaches, “It is required of stewards that one be found trustworthy.”

In the passage above, the steward being referred to is a steward of God, and in a sense, we are all stewards of God’s possessions as everything comes forth from him. Therefore, wise stewarding of your business is not just a good idea for the longevity of your business, but is an expectation from the Lord who has blessed you with your company thus far.

As a good steward, compare your expenses to previous years. Trim expenses until you can get back to your most efficient years.

Questions For Reflection

• What does steward mean? What does good stewardship look like? How could you be a better steward of your business?
• Where is your money going? What do you spend the most on? What are the most vital aspects of your business? What have you recently added on?