Positioned with Kimberly Knight
Our host, Kimberly Knight, is a certified coach, business consultant, educator, author, and speaker who has dedicated her life to helping women achieve their goals. Each week, Kimberly will dive into the issues that women face on their journey toward success. From relationships to parenting, work-life balance to entrepreneurship, financial security to personal growth, we cover it all.
In addition to exploring these important topics, we also share inspiring stories from other women who have overcome similar challenges to show you what’s possible. Plus, we’ll bring experts who can provide valuable insights and practical advice to help you take action and make things happen.
So, if you’re looking for a whole lot of wisdom wrapped in a little bit of girlfriend, tune in each week to the Positioned podcast. Kimberly is here to help you achieve the success you deserve!
Positioned with Kimberly Knight
50: Don’t Panic— Prepare
I've been watching the signs, reading the room, and praying about what’s ahead—and one thing I know for sure: faith-based entrepreneurs can't afford to be passive in this season. In this episode of Positioned, I'm sharing a word for those who sense a storm is coming but refuse to be shaken.
💡 Whether it's inflation, instability, or uncertainty, you don't need to panic—you need a plan. And more than that, you need to be Positioned.
In this episode, I'm sharing how to get your life and business positioned for economic uncertainty. Whether it's a full-blown economic downturn or just a shift in the market, you don't have to be caught off guard. Preparation is key — and today we're talking about practical strategies and faith-filled perspectives that can help you navigate the coming economic storm.
I'll share some of the key lessons I’ve learned about:
•Building economic resilience into your business model
•Where most entrepreneurs get caught slipping when times get tough
•How to position yourself to thrive instead of just survive
•And the importance of hearing God clearly when making business decisions in uncertain times
This is all about taking faith-led action, not fear-based reaction.
Let’s make sure you’re positioned for what’s next — whatever the economy brings.
As always, if this blessed you — Like, Subscribe, and Share it with someone who needs it!
Let's get Positioned together!
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Hey, welcome to the Position Podcast. I am your host, kimberly Knight, and today we are going to talk about some of the things you can do to prepare for what is about to come. We know that we've been hearing calls for that a recession is coming, that there are some downward economic shifts coming and we need to be prepared, but how do you prepare? Today, we're going to talk about just that thing, and this is not financial advice. Please do consult your own tax preparers and financial advisors for financial advice. I just want to make sure that you know what questions to ask and how to begin to prepare. So one of the things I want you to consider is that the Proverbs 31 woman was not afraid of snow for her household. Why? Because she was prepared right, so she couldn't stop the snow from coming, but she could keep them from getting cold and wet. So I want you to prepare so you're not cold and wet. You know metaphorically. So the first thing you're going to consider doing in order to prepare for any coming economic downturn or recession or depression or whatever way you know finances twist and turn in the world is you want to mitigate the damage by having an emergency fund. You want an emergency fund Now. The goal is to have three to six months of living expenses saved. But if you don't have the margin to do that right now and you know I can teach you how to make some more money but if you don't have the margin to do that right now and you know I can teach you how to make some more money but if you don't have the margin right now to build a huge emergency fund, you can save some money here and there. Be sure to set aside a little bit out of every paycheck, a little bit out of every client payment so that you set aside something in case of emergency Like grandma would said, it just might happen to you fund. Come on, come on right. We know some of us were only one popped tire away from having to go for a payday loan or something like that. Come on, you've got to put away that emergency fund because emergencies can and do happen even to the body of Christ. So get that done. Start putting that money on the side, and don't just put it on the side. You want to put it in a high yield savings so that you can get some interest on that money and help your money to grow. Come on through, all right.
Speaker 1:The next thing you want to do, in order to prepare for what may be coming, or what changes may be coming economically, is to cut all non-essential spending. Okay, so begin to review your monthly expenses. Some of you don't know how much it takes for you to live every month, but you need to review how much you've been spending every month and cut things like unnecessary subscriptions. Cut things like impulse shopping or eating a lot of takeout. Got to go, gotta go, gotta go. And right there you're going to save some money that you can put aside for your emergency fund. Come on, y'all. Speaking of which, I just said that some of you don't know how much it takes to run your household or how much you're actually spending every month, because you haven't done a budget and you're not looking at your spending. If you get it, you spend it. So it comes in on the left hand, you send it out on the right, but you don't know what's going on with your money.
Speaker 1:It is time now to compute your endurance number. Now, if you've been following me for a while or you've been one of my clients or one of my students, you know one of the things that I love to do is to calculate your exodus number. And your exodus number is how much money you would need to make in your business in order for you to leave your nine to five job and live the way you're living right now. So you'll be able to sustain your lifestyle and leave your nine to five job based on what you're making your business. So that's your exodus number. I also teach my clients to calculate their John 10, 10 number. Now, your John 10, 10 number is your abundance number. It's not how you're living, it's how you would like to live. Come on y'all. You know all the things that you dream of and you know I go into that with my clients and I'm going to have some surprises because I'll be working on that with some other folks soon.
Speaker 1:But this is about how much you would need in order to live your dream life In the case of some economic downturns coming. You also need to know your endurance number. How much money do you need to sustain yourself? Just you know, with the bare minimum, if you didn't spend anything extra, what do you need to do to endure that time period? It's not a forever thing, it's a right now thing. How can we survive and get through this without having a complete come apart in our household. You need that number, so that doesn't include anything like extras, right? That's no vacations, that's not things like buying clothes and shoes and, if you know, deal with your emotions through shopping. Now is the time for you to get into some therapy and deal with your real stuff so that you don't have to be a shopaholic it looks at. Do we really need all five major networks or streaming services? You don't. You can survive without them. My gosh, you might actually have to talk to the people in your house. I guess we'll have to do a different show about that, right? But yes, this is just your survival number. This is just your endurance number. What would you need to endure for a short period of time it's not forever in order not to have a complete economic collapse in your own household or in your own budget?
Speaker 1:Another thing you can do to prepare for any economic downturn or recession is to invest your time and energy into new skills. Right, you got to build new skills, and when I say new skills, it may be something that's non-traditional to you. You want to make sure there are essential services. There are some things that I don't care how bad the economy is. They're going to be needed. Healthcare going to be needed, tech skills going to be needed for the rest of our lives. Here is something that you may not have thought about Repair skills and trade skills. And here's the thing about so. If we have an economic downturn, when it happens, people will not be buying new things. They'll be repairing what they already have. If you have the skill set to do that, guess what you've got Income, and you can also use that for your own household, right, which is part of your endurance. Come on, y'all this is some good stuff, right? So we know tech skills will never go away. They will always be needed. All this is some good stuff, right? So we know tech skills will never go away. They will always be needed. The other thing, the other endurance skills that you may need, are things like sewing, canning, anything that helps us to survive and thrive Car repair Come on, people are not going to be buying new cars, okay, well, I mean they might, but you know it's going to be nice to be able to have that skillset, not only for your use again, but also so that you can use it as a source of income. Come on.
Speaker 1:Another thing you'll want to do right away is to update your resume, your CV, your LinkedIn, and invest your time and energy into your professional and your personal networks. This is not the season for the lone wolf, I am telling you. You are going to need your friends and family. There is this song oh, what is this song? I need you to survive. That's the season we're entering, people. So this is the time. Make amends, have those conversations. You need to clear up any misunderstandings. Take a look at your personal and your professional networks and begin to invest time and energy into them before you need them for your time of endurance. Come on y'all. Keep your resume up to date, keep your LinkedIn up to date, keep your professional connections and your professional associations. Give them some energy right now. Because, guess what? People are literally going to work and finding out when they get to work that they don't have work right. So they're showing up at their nine to five and they find out at 8.59 that they don't have a job. So you want to keep all these things in place, just in case you need them. I'm hoping that that doesn't happen to you, but if it does, you want to be prepared Again, this is not the season for the lone wolf and this is not doom and gloom.
Speaker 1:This is preparation. This is preparation Again. That Proverbs 31 woman didn't have to be afraid for her future because she knew who held her future. And the person who holds the future is the almighty God, and he is telling us to get ready. So it would be for us to listen and be ready.
Speaker 1:All right, the other thing you want to do is pay down as much debt as possible, because the last thing you want to do if there's an endurance season that comes, is to have to pay debt. So pay down everything you can, everything with high interest rates. Pay it down. Pay it off that money that you're saving by not going to restaurant. Use it to pay off your debt. Use it to fund your emergency fund. Pay them off. It'd be one less thing you have to deal with financially should an economic hardship hit your household. And I want to encourage you again. This is not financial advice, this is just something that I've seen in my own life. Work. Paying off the most high interest ones for me worked very well. I'm paying them off first because they're costing you more, and as you free up that income from paying that off. Then you can double up on payments on other things, and that's what worked for me. I'm not saying for you to do it, I'm just saying it worked very, very well for me and helped me to really get a handle on debt.
Speaker 1:All right, here's something else that you want to do just in case, just to prepare right, just to prepare if we see an economic downturn. You want to diversify your income. The Astes 11.2 says divide your investments. And if you read it in the new living translation, by the way, divide your investments among many places, for you do not know what risks may lie ahead. Whoa, I'm telling you, if there was ever a time for you to diversify your income streams, it is now. Right now o'clock, this is not the time to depend upon your nine to five to fund your household. You need to go ahead and make sure that you have multiple streams of income, multiple ways of making money, before you need them. Get them in place.
Speaker 1:And I am one of my favorite scriptures I believe it's second Kings four, one through seven and it says it talks about the widow who the creditors were coming to get her son, and she's and she goes to the prophet. And she says you know they're coming. You know my husband served you well, but he's dead now and I have no money. And they're they're going to come and take my sons away from me in order to pay the debt. And he says what do you have in your house? And she says I don't have anything but a little bit of oil. He said great, go borrow some vessels for the oil, sell it and use that profit to make money to support you and your children. Pay off your bills. There it goes. He says pay off the creditors and use the rest to support your household. And here's the thing that we need to do. We don't know what risk lies ahead, but we do have things in our hand. What do you have in your hand? We have things in our hand that we can make work for us and make income for us. And again, we can use that income not only to sustain our households, but also to pay down our consumer debt, especially consumer debt, as well as fund our emergency funds.
Speaker 1:Now, some of y'all can cook and right now you can do meals for families. Right, you could be like almost like a private chef for families. When I was younger and I was a single mom, I cooked. Like every once month. I would do dinners and I would package them family style and you could come and pick them up and after work I would have people order them ahead, pay me ahead. They had to pay me ahead because I needed the money in order to get the raw ingredients. I didn't have the money, but I paid my rent and sometimes my children's tuitions and bought sneakers and clothes, and all of that with fried chicken money. Right, fried chicken money.
Speaker 1:There are all kinds of things that you can do. Can you do hair? Listen, I'm looking for a braider right now. Can you braid? Make that money? What can you do? What can you do right now without going back for a degree, without having to go to another class, without having to buy anything too expensive, without having to invest time class, without having to buy anything too expensive, without having to invest time, energy and effort into your new skill, because you're learning some other skills, right. But I'm talking about making some money right now, this minute, with what you already know and can do, with what you already have the network for. And I'm going to give you the challenge to sit down and do not leave that seat, do not answer the phone, do not get on the internet, do not check your email, your texts or anything else until you write down 15 things that you can do right now to make some extra money.
Speaker 1:Here's the other thing I want you to consider. Other thing about having the extra income and doing things right now to make money is this is the season that if you have not started your business, if you have no side hustle, you have not started a business. You need to do it Now. Right now. We'll go as of the recording. Right now, the tax benefits alone would be beneficial to you. Right so now you can not only have the income, not only have another stream of revenue, but you'll also have those tax benefits that you would otherwise miss out on. So, as of this recording right, things can change, but as of now, it's a great way for you to add to your family's income. So please do so Now. These are just a few ideas.
Speaker 1:There will be some subsequent shows, because we need to talk about this. People, I hate to say it, but it seems like it is coming. We may not be able to stop this train, but it doesn't have to run over the top of us, we can get to the point that we can ride the train rather than being stuck under it. All right, thank you so much for joining us today. There will be more shows about how to prepare for what is coming. I will have some special guests coming up, so stay tuned for those announcements. Be sure to like and tag and subscribe so you don't miss a thing, and share this with a friend, because we want to take care of the people around us. All right, until next time, be wonderfully blessed. Bye now.
