Building a Continuity Plan for Your Business (Part 1)
What’s Your Plan, my friend?
At the beginning of 2020, you may have thought that developing a business continuity plan was not a top priority. Or, perhaps, you thought it was only for large businesses. Fast forward to today and a business continuity plan has become an essential part of planning for businesses and non-profit organizations of all sizes.
Business risks seem to come in all shapes and sizes, and the continuation of your business may be at stake. Businesses are being shuttered, reopened, and shuttered again from the pandemic, fires, hurricanes, and damage from riots. No one expected to face these situations. The organizations who had the foresight to build a continuity plan were willing to pivot their operations and work to find alternate ways to serve their customers. By doing so, the community was rewarded – or at least their wounds were less severe.
The Process
The process of developing a business continuation plan isn’t easy. That’s why I’m breaking it up into two parts. After all, who can predict what may come your way? Even so, it helps if you think through the steps you should take if a business interruption occurs. Start by asking yourself tough questions, beginning with this one: “What should we do if “x” happens?” Even if you jot down only a handful of ideas, it’s a start on your disaster recovery plan. That said, grab something to write with and record both the questions and answers that come to mind. This simple first action will help you with the remaining steps of the process.
Roles and Responsibilities
As part of the process, all business stakeholders should be identified and listed. On a high level, questions like these should be answered:
What is each person’s role within the company?
How would each person’s role change if the business is interrupted?
What new skillsets should be acquired in the case of a disruption?
Business Impact Analysis
This part of the continuity plan lists major scenarios where something could go wrong with your business and the potential impacts to your business. It should include things like weather events, fire, riots, theft, leadership interruptions, cash flow shortages, and the long-term impact of a pandemic. For each event, an analysis should be made as to how it will affect the business and what possible outcomes could occur. Don’t overthink this important step in the process. Simply list as many situations as you can and write down the potential impacts of each one.
Keep these lists nearby and continue adding to them until next week when I share more information and questions regarding recovery strategies and implementation. If you have any questions for me before then, contact me and let’s continue this discussion.
Until next week,
Barbara
