What is Business Continuity Planning and Why Do You Need It?
January 19, 2023
January 19, 2023
Why You Need Business Continuity Planning
Good leadership involves great planning. As a business leader, you know it’s important to have an emergency preparedness plan to keep your employees and customers safe if the worst happens. But do you know how to keep your business running in the face of disaster?
Many business leaders assume that emergency preparedness is the same thing as business continuity planning, but in fact they’re quite different. A business continuity plan can make all the difference during difficult times.
What is Business Continuity Planning?
Business continuity is a company’s ability to maintain crucial functions during and after a disaster. A business continuity plan is a proactive, companywide system that’s implemented long before emergencies occur so you can quickly get back to business.
A business continuity plan contains clear guidelines on what your business needs to maintain operations, from management all the way down. If emergencies happen, you don’t waste time getting everyone up to speed because they exactly what must be done to move forward.
IT companies offer business continuity plans because nearly all businesses rely heavily on their IT to power operations. From accounting and payroll to online commerce, your business needs connectivity. With solid processes in place, you can get computers, servers, networks up and running fast even if they’ve been disrupted by disaster.
Benefits of Business Continuity Planning
We’re a hyper-connected society and consumers have low tolerance for downtime. Being able to respond to customers, even at a reduced level, helps maintain trust and relationships. Continuity prevents negative business outcomes, preserving job security for your employees. Maintaining operations means you can meet the needs of consumers during a possibly difficult time. Here’s what continuity might look like for your business:
- Reduced downtime — Having access to your essential functions as soon as possible after disruption keeps operations functional and avoids costly downtime.
- Increased flexibility — Cloud options provide data backup, giving you the power to bring back primary operations first and minimize data loss.
- Maintained productivity — Limited downtime enables you to maintain productivity and keep data secure.
- Customer satisfaction — When you can continue operating, you build trust and satisfaction with your customers. Plus, they’ll feel comfortable knowing that their data has stayed secure.
How to Get Started on Your Business Continuity Plan
There are three main ingredients to a good business continuity plan: resilience, recovery, and contingency. To plan for resilience, you must clearly determine which business functions are essential. These are the functions you’ll bring back online first when time is of the essence. The next step is to create a system of data backups so you’ll never lose critical information needed to maintain operations. Rapid recovery involves setting recovery time objectives for various functions, systems, and networks. Contingency plans involve preparing for eventualities like property and hardware loss. Developing a chain of command that distributes contingency responsibilities can expedite the execution of your contingency plan.
GUT Consulting Offers Business Continuity Consulting Services
GUT Consulting specializes in helping small businesses prepare for the worst. We offer a no-cost assessment meeting to learn exactly where your vulnerabilities are and how to address them. When you choose GUT, you’ll gain the right relationships, product understanding, and know-how to solve business needs and setbacks. Contact GUT Consulting to learn how we can help you create and implement a business continuity plan today.