This unique situation we're now in has made us think of how our businesses can adapt and survive. That's perfectly normal, and we should be able to get through this with our businesses relatively doing well—if we are prepared!
One of the many themes that this situation has brought to the fore is the importance of a solid business continuity plan (BCP).
Business continuity is your business’ capability to continue operating and fulfilling obligations even amid emergencies: Making sure you have all bases covered, like logistics, supplies, finances, and more. This will help you protect your business and minimize damage.
Your business must be adaptive, regardless of the situation. And if you've been wanting to have emergency plans in place but do not know how, don't sweat! Here are simple steps you can take:
First, recognize that every business, no matter the size, needs a business continuity plan. It may seem like BCP only applies to big corporations, but even smaller businesses need one too. You have employees who rely on you, you have clients to attend to, and you have already invested time, money, and effort into your venture. If you don’t have a plan in place, all these will be affected.
List down possible scenarios and identify potential problems. Generally, Filipinos do not think about worst-case scenarios, thinking we might attract them. It could also be because we are just optimistic by nature! But this situation has shown us that we need to anticipate all types of emergencies. Which aspects of your business would be affected? Will your staff be able to work remotely? Go through your business' command chain and list down solutions to every possible scenario.
From there, create the plan. What should be the immediate response? How will you recover? What would it take to get things back to normal? Taking a closer look at the potential problems will unveil loopholes you might have in your operations. Map out solutions. For instance, if suppliers will not be able to provide you raw materials, you may want to prepare a communication plan for clients who will not get their orders in time.
Get the whole team in on it. Adapting to the situation is the responsibility of not just one person, but the entire team! Everybody should understand what to do in an emergency—where to go, who to connect with, and how to continue with the business once things settle down.
Practice the plan and test the tools. The response of your team during these times should come naturally to them. Regularly review the plan and have drills. More importantly, make sure that tools like laptops and mobile phones work!
Find partners that can help. It’s important to recognize groups and individuals that could be your ally when preparing or dealing with a crisis. For instance, you can tap a safety consultant who can help you assess possible issues. An insurance advisor could help you look into financial concerns.
When it comes to ensuring that your products get to your clients, you can rely on Entrego’s business and logistics solutions.
There's no doubt that this quarantine will end at some point, and with proper planning and prep work, you will then be prepared for whatever will come next!