Building a business continuity plan is a lot like getting a root canal.
You dread the experience, but you know that if you don’t go through with it, the consequences could be dire. In the case of avoiding a root canal, you could end up toothless. In the case of avoiding a business continuity plan, you could end up out of business. It’s not fun to think about, but it’s true.
- 7 out of 10 small firms that experience a major data loss go out of business within one year.
- Organizations that suffer data loss are exponentially more likely to fail and file bankruptcy.
- The longer business operations are interrupted, the sooner bankruptcy will occur.
Think about it- every minute you spend recovering data costs you money, and every piece of information you have to recreate costs you money.
Business continuity plans help you map out how you will continue to operate once disaster strikes. A plan will help you figure out how to get back up and running as quickly as possible. The key to a good plan is to avoid complexity and irrelevant information. In this short guide, I’m going to offer up a 5-point plan for business continuity.