How important is disaster and contingency planning for your business … now?
In 2016, my wife and I opened our horse farm. We also started an equitherapy-for-vets nonprofit.
One of the requirements for accreditation of the nonprofit was to establish contingency plans to mitigate potential risks.
After 21 years in the military and 7 years as a war planner, I fully understood the importance on risk mitigation through disaster and contingency planning.
Even though we’re a small business, we have plans in place for Flooding, Freeze, and Fire. The Flooding and Freeze plans have been used every year since we opened.
We never imagined that Pandemic would be on the list!
However, what we found is that we were able to pull out our plans and were able to quickly pull key aspects of the existing plans to create a quick response to deal with this crisis.
Did your business have any formal contingency plans going into this? Have you ever considered business risks and devised mitigation strategies.
No one could have planned for a Pandemic, except maybe the World Health Organization. However, planning is still quite important.
If you don’t have any contingency planning, what are you going to do about it today?
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