Disasters Create Opportunity

Some folks look at business continuity as a necessary burden. You need to have it because your investors or insurance company requires it. The reality is that a well thought-out business continuity plan can actually be a decisive market place advantage.

Remember the movie “Forrest Gump”? In the movie, the Bubba-Gump Shrimp Company was struggling to get their business off the ground. A large storm hit the area, leaving the local shrimp boats devastated, except for the Bubba-Gump Shrimp boat. That storm created opportunity for the Bubba-Gump Shrimp Company who was in a good position to take advantage of it. Was the Bubba-Gump Shrimp company lucky?

Seneca, a mid-1rst century AD Roman philosopher once said:

“Luck is what happens when preparation meets opportunity”

This 2,000 year-old piece of wisdom is still true today. Those companies who have developed a vibrant business continuity program and a preparedness mindset will be in a position to take advantage of the opportunities that may arise from a disaster. They will be faster and more efficient in recovery than any competitors who have not developed a business continuity program. When the customers come knocking, it will be on the doors of those who are open for business.

Here’s a checklist to get you started:

• Have an employee safety plan. Protecting your employees is the single greatest step you can make to ensure your business continuity. No business can survive without employees. This plan should include 72+ hour kits for each employee.
• Protect your data with back-ups and off-site storage. Test your back-ups to confirm they are useful and viable.
• Identify and protect your vital records. Store them off-site whenever possible.
• Protect your supply chain. Establish relationship with multiple suppliers both in and outside of the local area so that you will always have access to your most critical supplies needed to do your business.
• Have a communication plan. If phone and Internet services are down, how will you communicate with suppliers, customers and employees?
• Identify your most important business assets and resources that support your revenue. Evaluate your business processes and learn what you must protect.
• Have an alternative work location designated. If your primary space is made inaccessible, have another place to work from.