Weigh out a small amount of the powder. Dissolve it in a small volume of water if the powder already contains a buffer, or a buffer (such as 50 mM Tris-HCl pH 7.5) if the powder contains no buffer. Mix gently until the powder dissolves, avoiding foaming. This stock solution can be used for a protein assay and enzyme activity assays.
I think what adam suggested is preety clear. Make 10-50 mM Tris-HCl or other buffer which will maintain physiological condition. Measure very small amount of powder, dissolve it in buffer ( like 100 microliter buffer) and check absorbance. If absorbance is very high then you can make serial dilution of that stock, if it is very less add more powder, and again check absorbance.