The importance of business continuity planning for growing businesses
The disasters and disruptions that can befall businesses come in many shapes and sizes. But so do the excuses we hear as to why business and IT leaders put off business continuity planning.
"It'll take too much time/money/manpower to put together". “We have more important day-to-day things to worry about". "Our company isn't big enough to warrant a formal business continuity plan". And even "We've backed up our data so that's business continuity taken care of, right?". So, we've set out to counter the three biggest and most frequently heard misconceptions around business continuity planning for growing companies.
We have other priorities
Any business – from a multinational corporation to a solopreneur – has common goals when it comes to planning for the unexpected: to be able to minimise any loss of revenue and customers, and to protect their brand or professional reputation. Having a documented business continuity plan builds customer trust and confidence in your ability to resume or reopen quickly in the face of disruption, which can be a distinct competitive advantage. What's more, under acutely stressful circumstances, you may find it very difficult to remember priorities and take a clear-headed course of action without a documented plan to refer to.