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Preparedness Lessons Learned

Did anyone get the license plate of the truck that just hit the world economy?  I think it was Covid-19!! Which makes this the time to make sure your company has a thorough business interruption/disaster plan in place.  This weekend I stocked up disaster supplies for the house; toilet paper, tuna fish and extra beer!  Having all the details covered for your business will require more planning.

Learning From Experience

Last year our company was unlucky enough to use are emergency preparedness plan twice due to storm damage.  The second business interruption event was much less stressful having made corrections and changes to our original plan.  An important lesson was discovering that our cloud-based accounting software was not cloud based!   Now our accounting software is now truly cloud based, making our remote connectivity much simpler.

Most service companies that are just a few years old are already well prepared for business interruptions since they run their business off smart phones and laptops.  Always remember to back up to a secure third party every day!  Have all employees cross trained so that your customers won’t notice an employee’s absence.

Manufacturing companies are more vulnerable to business interruptions by their not being mobile.  A back up generator capable of running all critical equipment is a necessity with today’s violent weather.  Again, the more employees that are cross trained in all aspects of manufacturing, shipping, sales will be valuable if there is a widespread health crisis.  Have extra inventory and finished goods on hand in case there is an interruption of supplies.

A Source for Emergency Funding

However, for some businesses, there can be great cost in the event of a disaster. In these instances, its not just the need to get everything back up and running but making sure that there is available capital. Needing money fast to cover necessary expenses can be the difference between getting back on your feet and continuing to flounder. Quick cash funding and invoice factoring can be a lifeline in these emergencies and alleviate the burden of covering any expenses in an already stressful time.
Lastly, two helpful websites for disaster preparation are fema.gov and ready.gov .  These sites will be helpful to come up with as thorough a plan as possible to keep your business in business!  And lastly, Popular Mechanics recommends 3 items for your emergency kit: heavy duty trash bags, duct tape and lots of beer.  The beer is to attract neighborhood volunteers to clean your property first!