Protect your business and your bottom line with a business continuity plan
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
Every business is vulnerable to unexpected disasters—whether it’s a natural catastrophe, a burst pipe, or a fire. The real question isn’t whether something will happen but whether your business is ready to handle it when it does.
Your best defense against the unexpected is a business continuity plan (BCP). A BCP is a strategic plan designed to help businesses continue operating during and after a disaster or unexpected event. It outlines the processes and procedures necessary to ensure essential functions can be maintained or quickly restored, minimizing downtime and financial loss. It addresses how to protect your assets, maintain communication with customers and external stakeholders, and prevent damage to nearby businesses.
The Four Ps of a BCP
A solid BCP covers four major areas, what I like to call the Four Ps: people, processes, premises and providers.
People: Your employees are your most valuable asset. Make sure they know how to respond in an emergency. A BCP ensures your people can navigate chaos with confidence. This includes routine training and clear protocols that empower them to act quickly. Don’t assume maintenance or security staff will handle emergencies on their own. While these teams are essential, all employees should be empowered with and educated on the continuity plan.
Processes: A BCP outlines the essential processes that must be maintained or quickly restored in a disaster. This includes everything from emergency shutdown procedures to critical IT and operational processes. For example, knowing how to quickly locate and shut off a water main can save you from tens of thousands of dollars in damages.
Premises: Your place of business, whether a storefront, an office or a manufacturing plant, needs to be protected. Your BCP should address what happens if your premises are damaged—what steps need to be taken to secure the building, prevent further damage and get back to business.
Providers: Don’t forget your vendors and service providers—those who supply you with the products and services you need to operate. You should have pre-arranged agreements with vendors for disaster scenarios, including fire departments, plumbing and electrical services. These relationships are a vital part of your business ecosystem, and their ability to deliver on time, even during a crisis, can make or break your recovery efforts. Include them in your planning process and set expectations for response times and costs.
Recently, we worked with a company whose fire suppression system malfunctioned, causing the pipes to burst after hours. Without a well-constructed BCP, the damage could have been catastrophic. However, because the business had trained its employees on emergency protocols, one worker knew exactly where to find the nearest water shut-off valve. Quick action minimized the water damage, and the company avoided what could have been weeks of downtime and significant financial loss.
A BCP is not a “set it and forget it” document. It needs to be reviewed quarterly and updated as your business evolves. Why so often? Because your business isn’t static; people come and go, new equipment is added and external risks change.
Preparing for the unexpected isn’t just about protecting your bottom line—it’s about ensuring that your business, your employees and your community can weather any storm.
A comprehensive, well-executed BCP can mean the difference between quick recovery and long-term shutdown. Are you ready?