Advertising Specialty Institute
May 11, 2018
How To Create A Business Continuity Plan
After 2017 decimated communities with hurricanes, fires and floods, having a business continuity plan is more important than ever. Here’s advice for creating one that works.
Creating an Official Plan
Scott Teel, VP of organizational development at Agility Recovery, a Denver-based consultancy, notes there’s a pretty standard format to follow when developing a continuity plan – and every company, no matter what size, should have one in place.
The first step is to examine the fundamentals of your business. He suggests taking a look at what you have and what’s most important were a disaster to occur, and do a risk assessment.
“You want to understand what risks are most likely to happen and which may have the most impact to your organization,” Teel says. “That will essentially help you prioritize what it is you actually spend your time, energy, effort and money preventing, mitigating or recovering from.”
For a small company, that doesn’t have to take much time. Hook up with an insurance professional who’s familiar with the promotional products industry and might have insight into how your particular business works. After a quick conversation, a good agent should be able to give you a short list of the main threats you need to be prepared for.
Next, tackle a business impact analysis. This will essentially take the information you have on potential risks and combine that with the critical functions of your business so you can understand exactly what needs protecting and how to protect it.