Your business is your most precious asset, and you would do well to regularly prepare against any sort of internal catastrophes from occurring. But what if there is an emergency that you simply can’t control, no matter how well prepared you might be? An earthquake or other uncontrollable disaster can wreak havoc with even the best laid plans, but responsible managers can take certain steps to know what to do if such a catastrophic event were to occur.
This would entail the creation and implementation of a business continuity plan that can be used to keep the basic operations functioning if your physical building is unavailable or otherwise incapacitated.
One of the first steps you’ll want to undertake in developing your very own business continuity plan is by assembling a trusted team of leaders from your staff you can rely on to help build the plan, as well as implement it in a difficult situation. These should be long-term leaders, those with experience in the inner workings of the company and who have the trust and respect of many within your organization. Once you’ve assembled your team, there are four basic steps to creating any good business continuity plan.
- Identify the threats. What are the emergency situations that could cause your business to go into crisis? What is the most likely purpose for which you’ll utilize your business continuity plan? This varies greatly depending on the type and location of your company. Look at what risks will occur based on the history and geographical region of your area. Some common types of crises can include natural disasters, intentional attacks, or a major power outage.
- Identify your essential resources and functions. Know exactly what factors could cause your company to have issues providing your product, or be unable to meet the regulations necessary. Who are the other providers, areas, or individuals who impact your business every day, but you do not have complete control over? If you do business internationally or rely heavily on a group outside of your own region, be aware that major events in those areas could have a strong impact on your operations as well. Know what is indispensable and what you can do without, even if just temporary.
- Have plans to prevent and mitigate disaster. While you can’t stop every fire or flood, you can take precautions to keep the vast majority of issues from ever getting to that point. Even if a problem event occurs, what steps can you take to keep it from having a major impact on your regular operations? Within this part of the plan you should fully understand what you will do as an initial emergency response, what your public relations face will be, how you will communicate with your staff and how resources will be handled.
- Keep your plan relevant and practice often. Your plan for these types of issues should be updated regularly, to account for new types of threats and your ways to prepare for them, as well as to remove any outdated information. At least every year go over the plan with a fine tooth comb to make sure it is all still functional. Additionally, review the plan through drills or discussions with your whole team.
Creating a business continuity plan is a lot like having great business insurance: both are there to keep you and your company protected in unforeseen circumstances. For a free quote on insurance with us at Berliner Gelfand Insurance, give us a call today at 203-367-7704.