The Importance of a Business Continuity Plan

6/14/2018 (Permalink)

One cannot control mother nature, but one can reduce the financial impact a flood or other storm ultimately has on one's business.

Storm damage can wreak havoc on one's business, as not only can it result in extensive and expensive property damage, but also, it can result in business closure. If all or part of your building was rendered unsafe post-flooding, you risk not being able to go about business as usual. Not only is that bad for profits, but also, it may mean that your customers turn to competitors to fulfill the needs that you usually satisfy. Fortunately, you can prevent such financial devastation with a business continuity plan.

The Importance of Business Continuity Planning

You may have insurance in place to cover property damage and lost equipment, but insurance does not cover lost profits or replace lost customers. Keeping customers and ensuring ongoing profit is up to you. You can help reduce the impact of flooding or some other major disaster by following three simple steps.

1. Perform a Business Impact Analysis: Identify critical business functions and processes and make note of the resources necessary to support them.
2. Put Together a Business Continuity Team: People are your most valuable resources. In order for your continuity plan to be successful, you must have the right people on hand to carry it out. Select members of your team who are most likely to successfully manage a business disruption.
3. Train Your Team: Finally, train the team you put together. You never know how people will react in the face of disaster. The best way to prepare everyone for a hiccup is to train them for one.

Reduce the Impact of Disaster

One cannot control mother nature, but one can reduce the financial impact a flood or other storm ultimately has on one's business. Though you can't stop a flood from damaging your building, you can make the most of a bad situation by having a business continuity plan in place. Talk to your local Edmond, OK, storm damage remediation team about what other considerations you need to make when creating your plan. For more information, visit http://www.SERVPROedmond.com/.