Tag: plan

Can your business still operate?

If not, it probably means that you do not have a Business Continuity Plan. This is an essential tool for your business as it is the procedure that you will use in time of a crisis, that includes information intended to ensure the ability of the services provided to continue in the event of a serious business interruption.
The roles and responsibilities of individuals are detailed, as are the tasks that should be followed to ensure an effective response to an adverse situation.
The objectives of the Business Continuity Plan are as follows:


• Safety and welfare of employees, visitors and the public are protected at all times


• The impact of the incident on the local community and the environment is minimised


• Continue to deliver crucial services to your customers


• The impact of any incident on your business is brought under control and minimised.


• Quick and appropriate response is made to any adverse situation that may arise.


• Fast and accurate assessment and verification of the potential impacts of the situation.


• Matching the degree and nature of the response to the potential impact.


• Clear and appropriate communication being made with management, employees and customers


The business continuity plan is designed to provide a framework for a structured response to any practicably foreseeable incident resulting in actual potential harm, damage or injury to people, the environment or assets associated with the business.


The business continuity plan is written assuming numerous scenarios associated with the operation of the business ranging from total loss of the facility through to lesser incidents that can be managed through reference to the relevant sections of the plan and utilisation of the recovery strategies. A key part of the business continuity plan is the assessment of key risks for the business that assesses the likelihood, potential severity and possible mitigations for the risks specific to the business, and prior consideration of potential alternative providers for key capabilities.
The business continuity plan is intended to provide task information relating to the emergency response only.

Creating a Strategy

On a scale of one to ten, having a good business strategy should rate at ten

No matter what kind of business you have — whether you sell products or a service, as the saying goes, “if you fail to plan, then you plan to fail.”

Creating a strategy can mean the difference between you working 60 to 80 hours a week all year long — and then breaking even, or worse, losing money.

On the other hand, many successful entrepreneurs who have a strategy work fewer hours and make lots of money — and they usually attribute their success to having a strategic plan and following it.

So what is strategic business management? Very simply, it’s the process of defining the goals and objectives for your business, creating an action plan so you can reach them and then follow the plan.

How do you create a strategic plan for your business?

1. First, know what your vision for your company is. If there were no barriers, nothing stopping you from taking your company as far as you could — what would that look like?

2. Next, what are your company’s core operating values? What are its guiding principles? In other words, why are you in business and how do you do business?

3. Now create a 3 to 5-year plan. Your long-term plan is based on the broad objectives that will help you get from where you are now, to where you want to be.

4. Develop a plan for this year. These are the specific objectives you plan to accomplish this year that will lead you closer to your long-term goals. Remember to be “SMART” when setting your annual goals (Specific, Measurable, Attainable, Realistic, Time-oriented). Include a list of the barriers that are stopping you from getting where you want to go. You need to figure out what resources you’ve already got, and what resources you need to get you past those barriers. Then create an action plan that clearly lays out how you will achieve your goals. Involve key employees in this part of the planning process.

5. Create a set of milestones or benchmarks. This is very important so that you can measure your progress.

6. Share the plan with your employees, and anyone else who will be involved in the process. Your annual strategy is the roadmap that will make sure everyone ends up at the same destination — but to be effective, everyone needs the same map!

7. Put the plan into action. Now that you have the roadmap, it’s time to begin the journey.

8. Check your progress. Just like any trip, you need to check the map every now and then; to be sure you are still on the right road. If something is not working, the sooner you figure it out and make the necessary adjustments, the sooner you’ll be back on track.

9. Follow the same cycle next year. (Dream, Plan,  Do, Check, Act).

Creating a business strategy and following it will ensure that you enjoy the journey as much as getting to your final destination.

Recommended Reading

Good Strategy/Bad Strategy: The difference and why it matters