Published on July 30th, 2020 | by Braden Martin0
[2020 Pandemic Up date] Learn Business Continuity Tactics To Run Your Business Smoothly & Efficiently
COVID-19 poses severe security & continuity risks for small and mid-sized businesses. Just 12% of more than 1500 respondents believe their businesses can tackle the pandemic challenge.
This means that the majority of businesses aren’t ready to fight this economic crisis. This lack of confidence shows that organizations approach risk mitigation and business continuity in a poor manner. Let’s dive deep to see what steps you can take today to have a better tomorrow!
COVID-19 has shown us all how unprepared we are in the hour of a disaster. It’s a mirror view into our strategies and plans that lack the potential to safeguard our operations in the near future.
In such times, business intelligence plays a crucial role. Today, disaster recovery plans are being implemented and monitored across the world. These plans are faced with new challenges everyday, such as physical distancing, lack of quality communication and existing operations on the verge of breaking down.
One more important point to consider is the lack of seriousness towards the crises. Dealing with risks—assuming nothing unplanned can occur is a sign of poor leadership.
Instead, leaders should help come up with alternate plans to counter the harmful effects and lower risks that help business operations settle down in the new environment smoothly.
(free image created in canva)
Your very first response to a crisis should be to keep people safe and ensure smooth running of critical business functions.
The first phase lasts for a short period of time but it’s the most crucial phase of all. This step determines how quickly you’ll bounce off the hamster wheel of bad luck!
Now that you have identified your challenges and roadblocks, it’s time to stop the bleeding so that the healing process can begin.
In this step, ensure organized and coordinated efforts to stabilize your current operations. Create a plan that aligns with the below pointers:
- Inform your customers of your current status through email and social media
- Be truthful to your customers
- Identify your strengths and weaknesses
- Figure out your demand-supply chain
- Plan your budget—if you need a business loan to stabilize your revenue stream
You can think of this step as renewal of your business critical operations. If your business domain is tourism then it is very obvious that your primary business function is completely at a stop but you can still write blogs and share experiences online with your audience. Grow your business in any manner that suits you…
- Based on your planning, eradicate what doesn’t work for you or your business
- Implement and focus on scaled workflows that act in your favor
- Learn from your lessons and streamline your processes on your new foundation
|Stitch & Story is an online firm that sells craft materials and provides tutorials for people who want to learn knitting and crocheting.|
During the lockdown, interest has soared among enthusiasts. Earlier, knitting was considered old-fashioned and boring but now the scenario has completely changed!
Sales are steep and they couldn’t have achieved it without a proper plan in place. Every challenge is an opportunity, only that we often fail to notice it.
People being on screens most of their time find knitting very relaxing at home. It is very rewarding and the company makes sure that it stays that way.
(Source: unsplash.com by bruce mars)
Learn about your business impact and after-effects. Anticipate the repercussions of the current crisis—you may know these as ‘phases of the virus impact.’
Analyze and gather details that help prepare a recovery strategy that only works for you!
Now that you have identified your challenges and risks, mitigating those risks becomes your first priority.
Eliminate any loopholes that might invite or incite further chaos. Safeguard your company assets and existing operations. Let me help you…
- Check with virus-affected companies or partners
- How efficient is your tech-support?
- Check with contingency plans
- Employee training for a new remote working environment
- Splitting of resources across multiple sites
You know the risks and challenges and you have perfectly framed a counter plan to mitigate them. Let’s see how you can put it in action…
Contact your human resource team and ask them to prepare new policies and resources that aid your business continuity plan. Prioritize building habits around employees to practice good hygiene and minimal travel.
Remote work should meet with least resistance. Here, take help of tech support during COVID-19 to get back on track as soon as possible.
Assess the work of your employees and figure out if some work can be paused, integrated with existing teams or continued as before.
You’re going to face challenges amidst a global pandemic. If you’ve implemented the strategies as discussed above, you’re ready to accept the risks and mitigate them as they occur.
Your future planning should reflect such intelligence that aids your business, employees, other stakeholders and you!
“The only thing harder than planning is explaining why you didn’t”
Disasters are a natural part of the world order. Many businesses are facing a tough time like you. But, you haven’t lost.
Your response to such challenges determines your future. Business continuity plans in NYC are here to help you. Get on it today!