Building a Continuity Plan for Your Business (Part 2)

Written By Barbara L. Starley, CPA

Let’s continue our conversation regarding your business continuity plan.

First, if you haven’t yet read part 1 of this information, please go back and do that prior to working on the final steps of this important process. Today we are discussing recovery strategies and implementation.

Recovery Strategies

Once you’ve identified impacts, the next set of questions covers how to most effectively recover from them.  These remedies might include:

  • seeking additional financing

  • selecting backup locations

  • checking IT department functionality

  • creating alternate supply chain and distribution sources

Implementation

A good plan should be implemented through distribution, testing, and training. All stakeholders should read and understand the contents of the business continuation plan. The plan should be tested in drills and exercises when possible. Employees should be trained so they know their part and feel comfortable carrying it out while under high stress. 

While it is important for large businesses to consider the ramifications of a business interruption; small businesses need to think about strategies as well. 

The best time to make plans like this is when owners and employees are not in the middle of an actual disaster.  It is during the “lull before the storm” that better decisions are made, and a recovery strategy can be designed that is both cost-effective and optimal for the business.

The long-term viability of your business is important, and it can be strengthened when you put a business continuity plan in place. 

Do you have more questions than answers?  Reach out to me and let’s continue the conversation. I look forward to helping you plan for your business success, even when the unexpected may happen.

Prepare to prosper,

Barbara

Barbara L. Starley, CPA

Barbara is a best-selling author and trainer who uses her extensive QuickBooks(r) knowledge and professional expertise to serve primarily churches and related not-for-profit organizations. She is the founder of the Good Steward Church Academy, a member-based community of like-minded bookkeepers, pastors and treasurers who desire to honor God with their church finances.

As your On-Call Controller, Barbara bridges the gap between your in-house staff (maybe that's you) and your outside advisors. Her goal is to empower you to do what you can do yourself and to understand why you need to do it. You also have Barbara "on-call" for quick question support, further training, and troubleshooting, if your books get messy.

Churches, as a subset of all not-for-profits, are often under-served. Barbara believes that she has been called to change that. Integrity is a core value in how she trains and advises her clients. Having a clean set of books that tell a story and allow for wise-decision making is paramount to the success of any organization. She loves to see the light bulbs go on for her clients in the area of accounting and financial reporting and she looks forward to working with you!

https://www.goodstewardchurchacademy.com
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The Importance of Customer Communication
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Building a Continuity Plan for Your Business (Part 1)