No matter how well you run your business, circumstances outside your control can cause disruptions. World events, loss of key employees, and many other situations can result in a major setback for your business. And when these issues have a serious effect, you may need to cease operations altogether.
You have worked hard to get where you are, and you do not want to see your hard work destroyed due to no fault of your own. That is why having a business continuity plan in place is so important. Kiplinger explains how you can create such a plan and ensure it serves your needs well into the future.
What should I include in my continuity plan?
While your unique needs dictate the details of your plan, there are a few general provisions you must include. When faced with challenges, you will need a plan on how to continue operations. This involves an evaluation of which tasks and processes are essential, and which are not. When you are clear on this information, you can make decisions quickly when the need arises.
If you have multiple locations, consider what might happen if one or more are no longer viable. As a result, you would need a plan to move operations from those locations to another. You must also assess your staff to determine who can serve as a back up if someone on your team is unavailable for a length of time.
What comes next?
You must go back and revisit the plan regularly to ensure it still makes sense for your business. For example, if an important member of your organization decides to retire or change professions, updating your plan is top priority. Situations change rapidly, in life and in business. While you cannot stop changes from occurring, you can prepare for them by taking the proper steps.