Survival is key, so you can #justkeepgoing
When I talk about the skill set that I have developed over the last 40 years, I try to make it easier for people to understand. Jargon is removed and basic concepts remain.
Sometimes they focus one bit and not the others, but it really is quite simple to understand the broad concepts, which are Continuity, Insurance and Risk Management. So, let’s break it down.
- Risk Management
#CONTINUITY is a very wide discipline that covers implementing and testing plans, in respect of events which can prevent you from delivering your products and services and may interrupt the income stream of your business.
#INSURANCE is simply the financial compensation backstop to a very small number of those events and even in the simplest business, you still need to know what you are going to do, directly after an occurrence. How do you do, what you had planned to do tomorrow?
#RISK MANAGEMENT is the act of setting up systems that run in real time alongside your business to reduce the likelihood of an event or to reduce the effect of an occurrence. Easy ones to think of are Health & Safety policies, Security systems and fire suppression systems.
Small businesses very often buy insurance and that is where it stops. Even in slightly larger ones they add in some risk management, but hardly any but the largest organisations carry out any detailed continuity planning, they just react when the chips are down and hope they are clever enough to survive.
If you have plans within your business that encompass all three, you should be well prepared for most events, even the ones you didn’t think about.
Happy to chat about your business and what you might reasonably do to ensure continuity and success over time.
Have a great day
You just have to decide if you want it