Normally my Monday’s Mojo come from a positive inspiration. However, in light of the recent hurricane that hit the East coast, I realized inspiration can be negative too.
Disaster can strike at any time, but it doesn’t have to wipe you out. Whether it’s a flood in New Orleans, a hurricane on the Eastern seaboard, or an earthquake in Japan, there are thousands of businesses that manage to get back on their feet quickly and can then in turn support their local community – all because they had a solid disaster plan.
How do you plan for unforeseen circumstances? Here are a few precautions every small business owner should take.
- Back Up Your Data Your data should be backed up in an offsite location. Your backup should be recent enough that if something physically happened to your systems, you’d be able to use that backup to get back online relatively quickly. One popular solution is online backup. Online backup will allow you to store your data in a safe place without worrying about it getting corrupted or damaged.
- Backup List of Services and Vendors. Let’s say you sell an at-home study product, with CDs and a workbook, which you have created using a print-on-demand service. What happens if something puts your outsourced printing service out of commission for two weeks? Have a backup ready to go, immediately. You may have to pay a bit more and you might not have as good payment terms, but at least your whole business won’t be interrupted.
- Have Proper Insurance. Insure yourself against disaster by buying the appropriate insurance plans. Start considering insurance when the cost of insurance becomes negligible compared to what you’d lose if disaster should strike. Disaster doesn’t just come in the form of forces of nature. It could come in the form of a lawsuit, a stock market meltdown, an employee who gets injured, a missed bill causing a cut-off of supply and any number of other things. Look through the different insurance plans you can choose from, from general liability to malpractice to disaster insurance and choose the most appropriate plan(s) for your business.
Don’t be caught unaware by disaster. It’s unlikely to happen, but if it should you’ll want to know exactly how to respond to minimize the damage.