How Not to Waste Your Churches Money
Managing church finances is a huge deal. People have given their hard earned money to the church so that more people can hear the most amazing story ever told. So for those of us who manage those resources to best tell that story, it’s a huge deal that we get it right. It’s up to us to find the best way to tell the story effectively for the least amount of money possible which with tech is an insanely difficult balance.
So how do we know that we’re making the best decision?
Today we’re going to look at 2 measurements we can look at to help us make the best choices.
Now before we dig into those it’s also worth mentioning that most production equipment should last at least 10 years (longer in some cases) so we need to be thinking about that kind of life span as we are considering things.
So first…
Only buy it once
Let’s look at video switchers from 2 companies.
Company A - $6000 - integrator warns about reliability issues, marketing makes it look like it’s used for pro events. Switcher and control panel 6 useable inputs
Company B - $8000 - brand is used for Pro events all over the world Switcher and control panel all in one 10 useable inputs
When you go with company A, there is a high risk that the equipment will fail quickly and you will have to purchase it again or that it will only have enough inputs for what you need right now. So as soon as it breaks or your pastor wants to add more function (this will happen) you have to go out and buy something different (or worst case get the same thing again). So now you’ve spent more money than if you had gone with the better solution to start with.
Second…
On the flip side we also have to look at a concept known as:
The law of diminishing returns
The law of diminishing returns refers to a point at which the level of profits or benefits gained is less than the amount of money or energy invested.
What does that mean?
Quality VS Expense
On the vertical axis, we’re looking at the quality or effectiveness of the experience created, and on the horizontal axis, we’re looking at the cost.
Find the sweet spot
Some of you may look at how much can I afford and stop at that point. The problem is that may mean that you’re selling the story short. Instead of “How much can we afford?” The question should be “What do we need?” Followed by “What do we need to do to afford that?”
Sometimes, when the dollar amount for your current strategy just seems unreachable, you may have to ask yourself “Is this the best strategy, or do we need to look for a totally different way to accomplish our mission?”.
Others look at “What’s the biggest best thing on the market?” And it’s completely overkill for your needs. But it makes your ego feel good because you have the “best sound console in the lineup”.
So find that sweet spot where you get the most quality for each dollar and do your research so that you aren’t buying things multiple times. Talk to someone who has used whatever it is that you’re looking at. Ask them what they don’t like about it.
If you’re interested in talking through specific ways to effectively find the “sweet spot” send me a message, I’d be more than happy to talk with you.