1-888-353-5012There are hundreds of problems
that can arise in your business: the power goes out, you can’t process
payments, you have an “old” and a “new” version of valid gift cards, the
internet goes down, deliveries get delayed, new staff don’t yet know all the
proper procedures, a fuse blows, you run out of a product, etc. And it doesn’t
matter whether you’ve planned for all of these or not, HERE is a perfect place
to start:
Data Backups and Recovery: You must have regular backups of essential data (including customer info!), financial records, and operational data. This will prevent crises and data loss due to cyberattacks, hardware failures, or human error.
Critical Operations, Supply Chain, Inventory Management: Identify critical operations (ie. POWER), alternative suppliers, minimum inventory levels, and have backup strategies to mitigate disruptions in any of these categories.<
Customer Communications: If your primary communication platform goes down, have alternative methods to stay in touch with customers, such as social media, email, or phone.
Financial Contingency Planning: An emergency fund or line of credit could be your saving grace in case of a financial emergency. You should also have a plan to manage cash flow during unexpected downturns so you can weather economic uncertainties.
Employee Continuity and Cross-Training: Cross-train employees in critical roles to ensure operations continue smoothly if key personnel are unavailable. Document essential processes and tasks to facilitate seamless transitions in case of employee absence or turnover.