Threats to a company’s survival are everywhere, from cybersecurity threats to natural disasters. Many times they are out of our control, so having a plan in place to ensure the continuity of your business is essential.
The best way to do this is by creating a business continuity plan. This kind of plan identifies potential threats to a company and then determines the plan of action employees should take while assigning responsibilities.
The plan should include objectives and goals. For example, identifying which functions are essential to the health of the company and how you will allocate resources to these departments in the event of a disaster. Business aspects should be labeled by importance from low severity to high severity.
You can identify any pain points or discrepancies in the plan by training employees, practicing drills and modifying the plan accordingly. You can conduct internal reviews and even hire a business continuity specialist to come and assess your plan or point out any flaws you might not have seen.
In the visual below, Nextiva outlines how companies can create their own business continuity plan. Follow these steps and you’ll be on the road to ensure your company can survive a disaster, should it arise!