Business Planning – Disaster Recovery and Business Continuity

All, Business, Commercial, Growth & Success, Living Adventures, Risk Management     by Dan Muhlenkamp

Why does your need a business continuity plan (sometimes called a business disaster plan)? There are a lot of statistics out there, and frankly, I’m not sure if they are all true or not, but it is not good.

Travelers Insurance estimates that 25% of businesses that suffer a major disaster never reopen. I’ve read that 50% of New Orleans businesses that failed to reopen within 7 days after hurricane Katrina hit went bankrupt in less than a year. That statistic is quoted a lot but I can’t find the source of the information.high-water-123230_960_720

So how hard is it to create a business continuity plan? It’s not easy,but it’s not as hard as you probably think. We at Preferred Insurance Center have the ability to help you through the process. We have created a tool that can guide you through the process. There are 3 ways to utilize the tool.

  1. Just download the tool – This will get you started, and it is free, but it probably won’t actually get the job done. Most people don’t get through the process, even with a great tool, without a little help and discipline.
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  1. Setup an Initial Explanation Meeting with Follow-up – We’ll arrange for you to have the tool and explain how to use it. Then we will call back every week to review your progress, answer your questions, and keep you moving in the right direction. The cost of this depends entirely on how many weeks it takes you to complete the plan so you have every reason to see the project through.
  2. Full Consultation Meetings – We won’t write the plan for you but if you want to set up regular meetings to keep the project moving, we will do that.

How you create the plan isn’t nearly as important as getting the job done. Having a plan that is highly imperfect will still put you miles ahead of not having any plan at all. Most businesses will put this off till the tornado strikes, and then not have a clue what to do. Don’t be like most businesses. Do something now.

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