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The Advantages of Disaster: Self-Reliance and Preparation

The first images that come to mind when people hear the word “disaster” are often pictures of Mother Nature wreaking havoc. But disaster can arrive in different ways. Chemical spills, fires, hackers, tech failures, and network infiltrations can all cause major disruptions in business, too. Now we also have viral pandemics. The global coronavirus crisis has shown us that disaster can come in forms we’d never imagined. Perhaps most importantly, it has shown us that, when planning for disasters, we have to consider events that were previously not on our radars. The last pandemic approaching similar proportions happened in the early 20th century, and the way businesses operate has changed a lot since then. As a result, the COVID-19 pandemic has proven to be uncharted territory for most. Even if we can’t foresee every possible disruption, though, we can still plan proactively and try to ensure that our businesses are protected. Self-reliance and preparation can go a long way toward safeguarding operations; they can help your business continue operating and providing reliable customer service until things return to normal. Here are some steps you can take: 1. Conduct a risk-assessment and business-impact analysis Disasters can’t always be averted (or as COVID-19 has shown, predicted), but you can mitigate their effects if you’re armed with knowledge and a plan. Understanding your risks can help you decide what to do to avoid the devastating effects associated with all disasters. List every possible vulnerability your business faces and define each as an internal or external […]