In business we think about growth and development plans all the time. How are we going to get from where we are now, to where we want to be in 5, 10,15 or 20 years time. How do we structure our business to achieve those aims and goals?
We know there are many things that could happen to frustrate those goals, and we pick off the easy ones buying business insurances once a year and then forgetting about them, but what about those things you can’t insure?
Whilst some of them might cross our mind occasionally, businesses founders seldom set time aside to consider the implications and even more rarely plan for events and incidents that could seriously interrupt the activity that generates income.
Here are a few you may not have thought about:
- Failure of a key supplier or customer
- New competitor buying into the market
- Legal and regulatory changes
- Import export restrictions
- Failure of critical IT systems or production machinery
- Long lead times on acquiring critical equipment
- Sudden increased material costs and stock shortages
- Cyber-attacks and financial crimes
- Micro-biological contamination
- Internal teams leaving to set up business
All these things can and do happen from time to time. I know, as a business continuity advisor I look at them all the time and make sure businesses can #justkeepgoing when unforeseen events really do occur.
With a little planning and foresight, you can develop plans and response structures that can kick in the minute an incident occurs, so that you can continue your income generating activity with little or no disruption and that can be the difference between success or failure.
Resilience = Consideration + Planning + Implementation + Ongoing Validation
If you’d like to know more, have a look at our website www.severnbay.com or call on 029 20 470375.