What To Do When Facing a Financial Crisis

financial crisis

There are three things that give a leader a platform to effectively carry a team: Vision, charisma and resources. I remember that in one of my classes back in school of ministry, Pastor Joey Bonifacio taught us that there are three questions leaders should always answer.

  • “Where are you going?” (Vision)
  • “Can you convince people to go with you?” (Charisma)
  • “Can I provide the resources to get people there?” (Resources)

I thought about this in the light of my situation. What’s my vision? Train 10,000 leaders. Do I have the charisma to do it? Well, not a whole lot, but I can learn to. Do I have the money to do it? Uh-oh.

Often we have a compelling vision, and we carry it like an Olympic torch. Then we get people to run the race with us. Everyone’s excited, everyone’s pumped up. At least until the first monthly bill comes up. Suddenly the vision starts to get a little heavier. We’ve all been here before- sales quotas not being met, businesses losing clientelle, people stopping pledges to donate to your charity.

What can leaders do when they hit a financial crisis in their organizations, businesses or companies? Here are three things you can, or must, do.

1. Stop Thinking It’s About You

When running a church, everyone can have the faith that God will provide for financial needs. However, when its a business, we start to think that the faith factor is gone, and we just have to work to make the business work.

Do you still think it’s up to you to rake in cash for your organization? Sure you can strategize, put up sales and double-time in cold selling, but at the end of the day it is God who “makes the rain to fall” on your business or organization.

2. Be Realistic

I’m not an all-hype kind of person. I know that the sun doesn’t always come out. So when your organization is going through financial difficulties, it’s time to cut expenses. Never think that hiding the problem will make it go away.

Walt Disney was the one who once said: “I always like to look on the optimistic side of life, but I am realistic enough to know that life is a complex matter.”

3. Recognize Resourcefulness

The thing I appreciate most about our team’s Discipleship Administrator, Elna, is her ability to be resourceful with what budget is approved for programs and trainings. If you give her a budget that could barely run one whole training session, she’ll make it work.

Some people just have the gift to be resourceful. Honestly, I do not. I can be very luxurious in my means, but I acknowledge that and delegate to those who can make ends meet. Another example will be my wife, Ces. When she started handling finances, we started saving more than I ever did in my whole lifetime.

Are you facing a financial challenge right now? It’s not the end. Every challenge is just a gateway to a higher level for your organization.

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