Renegotiate

“My son, if you have put up security for your neighbor, if you have shaken hands in pledge for a stranger, you have been trapped by what you said, ensnared by the words of your mouth.” (Pro 6:1–2)

The essence of this proverb occurs a number of times in Scripture. It’s obviously an important financial principle, particularly for those of us who are in business.

If we are in onerous contracts or agreements or have guaranteed another entity or person, we need to renegotiate. Don’t put off, don’t delay, and don’t get distracted or be put off by the inconvenience or how it may be perceived; go and get it changed.

The Bible describes it as a trap, that we have been ensnared by the words of our mouth. If it is God’s will that we not enter into such an agreement, He will give us a way of escape.

Quick Prayer: Give me favor to renegotiate where I need to please, Lord. Amen.

Diversify

“Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land.” (Ecc 11:2)

When we invest, we are advised to make sure we don’t put all our eggs in one basket. This is a foundational principle in risk management.

It turns out to be a biblical one as well. There is wisdom in lowering risk because we do not know what the future will hold.

I think this is not only a timely reminder that not all things will go well—and we need to be mindful of that—but also that we are part of a collective. The warning here is that a disaster will come upon the land and by inference potentially affect us. We are not necessarily completely insulated from external influences.

Quick Prayer: Thank You for highlighting the principle of diversifying. Amen.