Contingency Plans In Business

Contingency Plans In Business-49
Reluctantly, I let my husband take me to the nearest hospital, and a few tests later they were able to confirm it was indeed my appendix.The surgeon was wonderful, and my recovery was fairly quick and uneventful, but I did learn a few things about our business.Cross-train your team if needed and conduct regular practice drills.

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Maybe there are some functions or people that are integral to your operation while other aspects could wait a bit or be less impactful to your customers. Don’t forget to outline communication plans for your customers, partners that will be counted on to step in, and timelines your team will need to follow when implementing the contingency plan.Your current team could probably use a refresher, new people will need training, and it pays to think about the risks and how you prioritize those risks from year to year.Hopefully, you will never have the need for a small business contingency plan.Does one person hold all the intellectual property?How are you going to get that knowledge transferred to someone else should something unexpected happen to them?Do you have people cross trained and able to step in if needed?What partner relationships are integral to your business and what’s the back-up plan should something happen to them?What plans do you have should acts of nature, fire or theft occur? Legally/Crisis Management: Do you have your bases covered legally?Are there protections in place that protect you from lawsuits?Walk through them the plan to be sure everyone is on the same page.Solicit their feedback as you do this because they may be more familiar with a given process or potential resources that could be tapped into.

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