04 - Are you ready for "What If?"
Surviving a wide variety of catastrophes is a popular theme of movies. While Hollywood focuses on end-of-the-world scenarios, most of us have experienced the more common panic of a computer crash.
There is an art and a science to keeping your business alive.
We’ve all lived through tropical storms, flooding, hurricanes, and terrorist attacks. And while these are very real and painful disruptions to our personal and business lives, there are many more frequent and mundane situations that can create the same chaos.
For businesses, any event that interrupts services is a potential disaster: a key employee who is out sick, a broken water pipe, a power outage, or a technology meltdown. Because we’re in a competitive market, if your business cannot function, your customers will go elsewhere.
Effective planning is the key to surviving a business interruption with little or no down-time. It will buy you three things:
- The ability to continue running a profitable business and protect your cash flow
- The ability to keep your customers, possibly gain new customers, and improve customer loyalty
- Peace of mind
The planning process fosters teamwork, creative thinking and confidence in the leadership of your company. Coupled with good property, liability and business interruption insurance, you can assure your employees and customers that your company is here to stay.
Key aspects of a solid Business Continuity Plan include:
- A People Plan: be sure you can reach your employees, customers and key vendors – and they can reach you.
- A Technology Plan: implement technology backups and have a contingency for replacement equipment to ensure limited down-time.
- An Administrative Plan: how do you keep the business running? Do you need an alternate space, temporary staff, or other key resources?
The time you invest in business continuity planning will pay big dividends for your business. It will become an integral aspect of your strategic plan and build confidence with your employees and customers.
The Block Group advocates for women-owned businesses, helping them position their companies for strategic growth.
Charting the course for impactful, sustainable, profitable businesses, the beacon is control: of your strategic direction, your money, your time, your staffing, and your ability to bring in business.
Applying this holistic approach to business, The Block Group guides organizations through the business cycle, revitalizing management and promoting growth. We bring together the people, resources and ideas that build results.
All the best!
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