Managing risk against cyber, natural or weather-related disaster should be crucial to every business owner. Unfortunately, most organizations don’t put a continuity plan in place until after disaster strikes.
What is a continuity plan?
Protecting your company’s bottom line also means protecting its cyber, complex networks and databases by preparing an effective response plan. The plan allows you to understand what products and services are critical to your business, where you are most vulnerable and how to recover quickly in the event of a disruption.
Why does your business need one?
Your customers rely on your products and services. If these suddenly became unavailable, then you risk them going elsewhere. A business continuity plan helps you retain customers and remain competitive by staying in business. It minimizes financial loss, shows your investors, partners and insurers that you are prepared, and most important of all, it keeps your staff and customers safe.
How to create your business continuity plan
Business continuity is a proactive plan that outlines the steps to be taken before, during and after an event to mitigate and avoid risks as a result of a disruption of operations.
Below is an 8-step process to get you started on creating a continuity plan:
Determine what’s important to your business
- Assess what your business would need to do in a disaster to recover
- Look at your financials to determine how soon you need to be back in business
- Who are the key people you need to communicate within the event of a crisis?
- What medium will you use to communicate with these groups?
- Evaluate all potential risks, vulnerabilities and threats your business is susceptible to
- Create a set of strategies to deal with the identified risks
- Keep your business continuity plan somewhere safe and accessible
There is no single, reliable solution to protect your business 100% from a cyber attack or disruption. The time spent understanding, developing and maintaining a business continuity plan is an investment in your company. It assures key stakeholders that you are prepared to bounce back swiftly.
Looking to start your companies Continuity Plan? Give us a call and we will walk you through the whole thing. Contact us now.