And ‘recovery' - does it mean back trading again, or being as profitable as you were?
You must plan for all likely eventualities, because they have different consequences.
And loss of your whole business is different to loss of stock, for example.
The gold standard is being able to recover without customers even knowing something bad has happened." RH: "If you've established a good relationship, customers will show some goodwill in the short term.
As time goes on, you may lose some if you're still recovering." KK: "Yes.
Better to contact a valued supplier and tell them what has happened, rather than letting them read about it in the paper or find out from one of your competitors.
Good suppliers will also want to work with you to protect the relationship." RH: "Essential.This might include a fire, hurricane, flood, tornado, earthquake, shooting, theft, computer hacking or shooter.Prepare security measures to help monitor potential weather disasters and to prevent events such as theft, hacking or a shooter.Then, you need to develop your recovery strategies, determined by the previous two steps.There needs to be hierarchy; understand what's most critical for your business, as well as essential and complimentary.Creating procedures to minimize the effects of and recover from a man-made or natural event revolves around preparation, communication and documentation.The first step in creating a disaster recovery plan is to list possible disasters that could severely damage your business.See how Microsoft Office 365 can protect your business as well as improving productivity.From a fire started by a carelessly tossed cigarette to a building demolished by a hurricane, physical damage to could either mean the end of your business or be a temporary bump in the road, depending on your disaster planning.That way, you don't have to make critical decisions under crisis, stress or distress.You must focus on critical issues first and execute a series of well-considered actions.