Keeping your business up and running during a crisis requires a high level of advance planning. Even though you can’t predict what the future might hold, you can prepare your company for disruptive situations beforehand with the help of business continuity planning.
The Covid-19 pandemic taught us in a big way how disasters and disruptions can hit anyone, in any industry, in any number of ways. It interrupted supply chains, sent almost everyone home (and the fortunate ones were able to transition to work-from-home), and caused a rapid lifestyle shift all over the world.
Most significantly, it showed everyone the importance of planning for business continuity and disaster recovery. So, let’s explore how to do it for your small or medium sized business!
What's a business continuity plan?
A business continuity plan (BCP) is a document that defines how a business will continue to operate during an unplanned disruption to their regular operations. This document is more comprehensive than a disaster recovery plan which only details how to get back on track after a disaster, while a full BCP addresses how to maintain business during and beyond a crisis. A comprehensive BCP contains contingencies for business processes, assets, human resources, and business partners – every aspect of the business that might be affected.
A business continuity plan details the steps and instructions to follow in case of a disruptive event. It typically includes thorough checklists on available equipment, emergency procedures, and data backups. They also include the responsibilities assigned to different personnel, as well as emergency contact information. The plan also contains a prioritized list of the organization’s most critical processes so that resources can be allocated accordingly.
What are the steps involved in business continuity planning
The following are the high level steps for Business Continuity Planning:
- Create an Inventory of Information Assets
- Conduct Business Impact Analysis
- Design the Recovery Solution
- Test the Solution
- Maintain and update the plan
What are key benefits of business continuity planning?
- Your business processes will run during and after a disruptive event
- No revenue stream loss due to disruption
- Improvement in customer satisfaction and business reputation
- Mitigation of financial and legal risks
With so much at stake, it’s past time for your business to ensure it has a Business Continuity Plan in place! If you aren’t sure where to start, or how to make sure the plan truly addresses all of your continuity needs, give us a shout – we would love the chance to help your business stay in business! Email us at firstname.lastname@example.org or call us at 866-253-4316 to schedule a chat today.