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Business continuity and your competitors: the dangerous lie

CrisisRecoverySometimes business continuity planning seems like a lot of hard work—especially when things seem stable. After all, BC planning involves an investment in time, technology, tools, consulting and training, and it’s an ongoing process, requiring regular evaluation, revision and practice.

But despite the ever-more-frequent news headlines about cyber-breaches, weather disruptions and violent attacks, management can still be notoriously reticent to invest in business continuity.

One of the reasons for that reluctance is the simple assumption that if your organization is affected by a disaster, your competitors’ companies will be as well.

That’s so wrong that it’s dangerous—because of course there are countless scenarios that could knock your business completely out of commission while leaving even the building next door unscathed.

Flooded parking lot. Power outage. Server failure. Fire in the building. The list—if you’re brave enough to draw one up—is nearly endless.

No matter the scenario, the businesses that have a solid business continuity plan in place are the ones with a competitive advantage.

Here’s what a company with a solid BC plan can do that others might not be able to:

  • Prepare for the inevitable before it occurs—and handle it with the least impact when it does
  • Tell staff exactly what to do the minute that business is affected
  • React as calmly and efficiently as possible to any interruption, no matter how big or small
  • Recover operations smoothly and quickly
  • Protect employees, assets and the bottom line
  • Keep staff focused on their jobs
  • Use the skills of all staff, not just a few
  • Reduce legal liability and keep the confidence of stakeholders
  • Meet service level agreements with customers and clients
  • Safeguard the company’s reputation and brand from threats
  • Keep, or even gain, a competitive advantage because of a quick response
  • Fix weaknesses in the business as soon as they’re discovered

Most importantly, those with a solid business plan have a much better chance of finding a way to serve their customers—even when others can’t. Do you want that to be your business… or the competition’s?

Don’t believe your company will get lucky, or you’ll be able to simply figure things out when disaster strikes.

Most importantly, don’t fall for the lie that if you’re affected, everyone else will be too. To start your business continuity planning today—and be better prepared if worse comes to worst—download the Definitive Guide to Business Continuity Planning.