| u, like most people, think that starting a business | | | | Let’s give you an idea of how to go |
| is the toughest part of entrepreneurship, allow us | | | | about that emergency action plan. |
| to change your view. Managing a successful | | | | I. A list of people responsible for assessing the |
| business year after year, while ensuring that it is | | | | degree of risk to the business should be clearly |
| protected from harm, is even more challenging. | | | | included. |
| Tense, already? Take it easy! … We are | | | | II. A list of names and designations of people who |
| here to give you some tips on how to prepare | | | | are responsible for making decisions, checking |
| yourself to face business disasters. | | | | response actions, and bringing the business back |
| It might happen some day. Despite not being | | | | to its normal operations should be incorporated. |
| located in a disaster-prone area, calamity like wind | | | | Make sure that someone responsible is in charge |
| storms, tornadoes and earthquakes can hit any | | | | of contacting emergency service providers. In |
| time with little or no warning, destroying your | | | | addition, nominate a person to act as a contact |
| entire business. Even if a flood doesn’t put | | | | point for outside parties, such as customers and |
| your business under water, it may distance your | | | | vendors. |
| customers and suppliers. Alternatively, lengthy | | | | III. Instructions about the proper handling of |
| illness, accident or unexpected death of one of | | | | various machinery and equipment must be |
| your business’ co-founders can also mean | | | | included. |
| the collapse of your company. | | | | IV. Guidelines on emergency rescue operations, |
| Hence, while running the business, you should have | | | | medical tasks, fire fighting and other activities |
| a plan of how you will handle catastrophe. | | | | must be provided. |
| Although, you cannot be hundred percent sure | | | | 3. Sit with your people: |
| that you have covered all the unpleasant | | | | Once you are through with drafting the plan, sit |
| possibilities, here are some simple steps that can | | | | down with your employees to discuss it. Your |
| help protect your business and its assets. | | | | people should be properly informed about all the |
| Let’s talk about them. | | | | threats that could strike, and what they are |
| 1. Find out what might go wrong: | | | | expected to do in the event of disaster. |
| First of all, list out what could go wrong with your | | | | If they seem to have no prior experience of |
| business. Once you have identified the threats, | | | | handling any type of business crisis, you had |
| you need to rank them in order of maximum | | | | better arrange a trial run for them. It might also |
| impact and likelihood. | | | | result in your employees devising a more efficient |
| Next, assess how vulnerable your business is to | | | | strategy of tackling a business disaster. |
| those calamities. For example, think about | | | | 4. Inform the people concerned: |
| whether the employees are properly trained on | | | | You are also supposed to inform the authorities |
| an appropriate course of action to be taken in the | | | | and other service providers about the identified |
| face of natural calamity. If you’re worried | | | | threats and the action plan you have prepared to |
| about security issues, find out whether the | | | | deal with them. During a crisis, the concerned |
| company’s security system is capable of | | | | people are typically the police, the local fire |
| thwarting insider theft. Other exigencies include | | | | department and the emergency medical service. |
| sudden power failure, an accident on the work | | | | It is a proven fact that those businesses that |
| site or incapacitation of key staff members. | | | | acquainted the authorities with this information lost |
| 2. Write down a plan: | | | | less in times of trouble. At the same time, being |
| Your next job is to create an ‘emergency | | | | experienced in handling emergencies, they can |
| action plan” . It is basically a manually | | | | provide you with valuable advice on how to |
| written document for dealing with the identified | | | | improve your preparedness. |
| threats to your business. The modules of your | | | | While these measures may help your business |
| plan must make sense, and also be in conformity | | | | recover from the ravages of disaster, it might still |
| with prevailing law. For instance in the United | | | | reel under the aftermath of calamity. Often, |
| States, it should contain an OSHA-directed | | | | injured parties might sue your business for |
| evacuation plan; must follow the Sarbanes-Oxley | | | | damages suffered on its premises. Another time |
| antifraud law; should not contradict the provisions | | | | we’ll talk about how you can save your |
| of the 1996 Health Insurance Portability and | | | | company from being dragged into court at the |
| Accountability Act, the National Fire Protection | | | | end of a business disaster, and how to come out |
| Association’s Life-Safety Code and so on. | | | | on top, should the worst happen. |