Should
you get help for your small business? My answer may surprise
you.
The business world often uses the terms “business recovery
plan” and “disaster recovery plan” interchangeably.
In either case, the purpose of this plan is to save your business
from closing its doors forever when disaster strikes. This disaster
may be in the form of a natural disaster, such as the one that
struck business of business owners when Hurricane Katrina wreaked
havoc in Louisiana, or it may be a man-made disaster. Poor business
decisions, a down-turn in the economy, or even having your business
taken advantage of by a few dishonest companies or employees
can also spell disaster for your business. By having a business
recovery plan in place before disaster strikes, you will know
exactly what you need to do to keep your business from going
belly up.
What to Include in Your Business Recovery Plan
Your business recovery plan should contain several items and
you should update it at least once every six months to ensure
it accurately reflects the current standing of your business.
Your business recovery plan also must detail which personnel
and departments are responsible for responding to specific situations.
As a small business owner, you may be responsible for overseeing
many, if not all, of the departments typically found in a larger
corporation. If you have a partner, however, or have hired other
personnel to help you run your business, your business recovery
plan should specify who is responsible for taking care of the
various aspects of your business should disaster occur. This
way, there is no confusion when disaster does strike and your
business can take quick and decisive action.
Your business recovery plan should also specify the equipment
you will need to get your business back on track. This may include
software and hardware for the technology department as well as
business equipment and spare parts.
What to Do if Disaster Strikes Before You Have Created a Business
Recovery Plan
If your business is going broke and you have never created a
business recovery plan, you might still have time to do so. Before
you go knocking on a lawyer’s door asking him or her to
help you file bankruptcy, talk to a financial adviser or a business
expert. They can help you find ways to cut costs and to take
advantage of laws to protect your business. A lawyer probably
won’t tell you about your other choices unless you specifically
ask about them. And, even then, you might not get straight answers.
So, be sure to talk to several different experts and do your
research to create a business recovery plan that will help you
save your business and start turning a profit once more.
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