When the Unthinkable Happens …| Extraordinary Business
How to ensure your business can continue when the unthinkable happens…
I was working on something on my laptop the other day. I had a glass of water sitting next to me, along with my mobile phone and my tablet. I also have a beautiful Labrador Retriever who is rarely not by my side.
I am sure you have heard enough laptop-dog-water horror stories to know where this is going; in case you haven’t, the dog begged to go outside; when he realized that I understood and was getting up to take him out, he rushed by the coffee table, wagging his tail triumphantly and in doing so, knocked my glass of water squarely on to my laptop!
After explaining to the dog the error of his ways, I learned quickly that the laptop did not enjoy the bath at all; I quickly shut it down and turned it on its side to empty out what seemed like a gallon of water onto a towel I had nearby and grabbed my tablet and phone. It has a sealed battery, so it remained with the device.
So what do you do?
As business owners, we all know that things happen that are beyond our control, from a check coming in late to power outages to spilling water on laptop. Many times, we will play the odds and hope that nothing will happen. Most of the time, we are right.
But restated…what do we do when something happens?
This is part of the operational planning component of running your business – risk assessment and mitigation, if you will. This is where creation of your failsafe/failover systems come into play. You would probably agree that any disruptions in your normal operations will put your company at a strategic disadvantage which you will need to invest time and resources in to recover from.
Therefore, it is imperative that you do a risk assessment – not just on what you see and what you think of, but rather, an organized assessment that goes through all of the major components of your business and determines what to do in the event of the unexpected. What do you do if your assistant cannot work for a week? Who do you call? How is her work covered?
In my case, we have set up a dual backup system, wherein there is an onsite and cloud backup of all of the data that we use, so that if any of the machines go down, we can continue to work with little interruption. Furthermore, our cloud system is Microsoft365, so I can go to any computer with internet access and use their web and just-in-time applications to continue working.
So what do you do? How do you manage slow receivables? Loss of key employees? Product shortages? Internet reputation? Transportation issues?
Running a business is not without its risks. If you are building a company that will be extraordinary, you will always want to think about the possibilities and how you will manage them. Don’t allow your company to be sidelined by something that could have been prevented. If you have questions about assessing your company’s risk, or to have an assessment done, please contact our office at 678-331-4162.
Rick Meekins is the Managing Consultant at Aepiphanni, the trusted advisor for business leaders who are seeking forward-thinking solutions to help them plan for and navigate through the challenges of business growth. Our entrepreneurial multidisciplinary team works with clients to develop differentiating solutions and provide direction focused on lasting, strategic results. We exist to help our clients CREATE | DESIGN | BUILD extraordinary businesses.
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