As a business owner, I understand the immense dedication and effort it takes to build and maintain a successful business. One critical aspect often overlooked is the importance of having a business disaster plan. Many single-owner businesses rely heavily on the direction and presence of one person – the owner. If something happens to that person, even temporarily, the absence could significantly impact the business’s operation.
A disaster plan is an act of love
Without an emergency plan for your small business, you risk letting your business down. All the hard work, time, and resources you have invested can quickly unravel in your absence. You also risk leaving your employees, family members, and others who care about you in a precarious situation. They might be left scrambling to find critical information needed to keep the business running smoothly.
I view creating a business continuity plan as an act of love toward your business and the people around you. It’s a gesture that shows you care about your business’s continuity and stability, even in unforeseen circumstances. I’ve seen too many cases where people are left in chaos because they didn’t have access to vital business information when they needed it most.
Your business requires certain systems to thrive and grow. Without these systems, you are inviting chaos into your operations. An emergency disaster plan is one of these crucial systems. It ensures that everything is in order and accessible, not only for emergencies but also for day-to-day organizational benefits. For instance, having a centralized location for all your account numbers and legal documents can be incredibly helpful.
Finding the gaps in your business
Creating a business disaster plan also helps you organize and identify potential gaps in your business systems and organization. For example, you might realize you need to establish a relationship with a lawyer, even if you don’t need one immediately. By identifying such needs as you create your disaster plan, you ensure that you’re prepared for future uncertainties.
In times of crisis, whether it’s a health, legal, or family matters, having everything documented provides direction. People often look for guidance on what steps to take next. Knowing where to find essential information, like payroll schedules or contact details for your bookkeeper, can make a significant difference in maintaining business operations during your absence.
What should I include in my business disaster plan?
Your disaster plan should include several high-level elements:
- Legal Information: Company formation documents, key agreements, advisor contacts, ongoing lawsuits, and other legal details.
- Financial Information: Debts, insurance policies, client and vendor lists, employee and contractor details, and financial systems.
- Technology: Software used, social media accounts, phone systems, and access details for devices like phones and computers.
What should I do after my business disaster plan is finished?
Once you have developed your business disaster plan, it’s essential to create awareness about it. Trusted individuals should know how to access this information securely. It’s wise to keep a paper copy in a fireproof safe and an electronic version in a secure, accessible location. This redundancy ensures that the plan is available even if one copy is destroyed.
When is the best time to write my business emergency plan?
The best time to create a disaster plan is when you start your business. If you haven’t done it yet, the second-best time is now. Taking these steps ensures that your business can continue to operate smoothly and that your loved ones and colleagues are not left in a difficult position during emergencies. Remember, creating a disaster plan is not just a business necessity; it’s an act of love and responsibility towards everything and everyone that depends on your business.
Want an easy way to create your emergency plan for business continuity? Check out The Business Owner’s Emergency Handbook, a small business emergency plan template to store all your critical business information for your team and family if something happens to you. We even send you daily emails for 30 days to make sure you complete it. How easy is that?
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