As much as you might hate to think about this, the world is on the eve of a global recession. There’s just been too much cheap money out there for too long. Now, I am a pastor and not an economist, but I play one on Facebook. (Just kidding). Sequoia Capital, one of Silicon Valley’s most successful venture capital firms that backed companies like Apple, Google, and AirBnb, just released a presentation calling for founders to preserve cash for survival. “We do not believe that this is going to be another swift V-shaped recovery like we saw at the outset of the pandemic,” Sequoia’s partners said. What does this have to do with your church? A lot. Churches have already seen giving decline due to inflation. With the oncoming recession, things are about to take a downward turn. Here are five ways you can recession-proof your church:
5 Ways to Recession-Proof Your Church
1. Manage What You Can Control
What full-time roles could become part-time? What part-time roles could become volunteer? What ministries are more of a luxury than a necessity? Or asked a nicer way, where are the bright spots in your church right now? Invest heavily in what is bearing fruit. For everything else, unfortunately, it’s time to prune.
This is the time to look at all of the staff who spend their days doom scrolling on their iPhones. Their time is up. While you may have had compassion on them during the pandemic, there are plenty of jobs out there these days. They will find something. It’s time to become a lean mean ministry machine. Now if you feel at all threatened by what I’m saying, then it is time to pour your energy and efforts into becoming an essential member of your church’s team. The more value that you can add, the less likely that you will get cut. And, the more satisfaction you will get from your work.
To recession-proof your church, ask: what things in your church’s budget can you control? Periodically, it’s a good idea to look at all of the services your church subscribes to. What is still necessary? While RightNow Media and smallgroups.org can be useful, are they necessary? What if you created your own curriculum? Your studies would more closely reflect your church’s values. If you offer a digital download, you reduce the cost of printing books. Invest in some great tools for producing curriculum like How to Ask Great Questions by Karen Lee-Thorpe or join the Effective Curriculum Writing Workshop. You might even have some talented volunteers in your church who can help you write a sermon discussion guide or study guide.
2. Sell Surplus Assets
You don’t need a garage sale (but you could have one). What property does your church own but will probably never develop? Real estate is still pretty hot right now. Before things slow way down, it might be time to liquidate excess property and build your church’s cash reserves. Pay off debt. I understand that your role may not involve decisions of this kind, but these would be helpful things to suggest to your leadership.