- Now it is time for that strategic thought that the boss is always doing with eyes closed: “What would happen if…?”
- You need a disaster recovery plan. For a small, independent business, it is a bit different than a bigger group.
- What would happen if the building burns?
- How will you recover?
- Remember those off-site backups?
- How will you get in contact with your insurer, employee(s), and customer(s)?
- You probably need a copy of that data on paper, in your fire safe at home or in the safe deposit box. What if the pipes freeze and break?
- Can you raise the inventory off the floor a bit on some shelving?
- What if the place is burglarized?
- What do you need to re-start within the week?
- List it and at least sketch out a priority list of things to do.
- What if one of your customers gives you their influenza and it takes you a week or two to get back on your feet?
- Short-term disability insurance, health insurance, something like that might be useful. What if you are in an auto accident and it takes you a couple of months to get back on your feet?
- Long-term disability insurance might be worth a look. (Car accidents are far more common than fires, floods, and locust invasions.)
- Now that you have planned out what you can do, and put some of the plans in place (off-site backups, recovery plan), it is time to think about business continuity insurance.
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