How to Establish a Solid Business Continuity Plan

Having a solid business continuity plan in place will ensure that your company is better protected from
future emergencies or disasters. It can help reduce downtime, minimize financial losses, protect
critical business data and processes, and ultimately help sustain your business. Let’s review how to
establish such a plan

1. Identify All Potential Risks

The first step to building a successful business continuity plan is to identify and assess the types of
risks your business may face. These can include anything from natural disasters like floods or fires to
cybercrime, technical malfunctions, supply chain disruption, or network security concerns. Research
the risks most likely in your particular industry or geographic area as these can differ from place to
place. Once you have identified the potential threats, you can begin developing specific response
methods.

2. Create a Threat Management Strategy

Work on threat management strategies such as monitoring, containment, prevention, mitigation, and
recovery. Make sure to include specific steps for each threat you have identified and test them
regularly. Additionally, you should also assess your threat management strategy regularly to ensure it
is effective and efficient.

3. Implement Business Continuity Procedures

Develop an incident response plan that outlines the exact steps you’ll take if a threat occurs. It’s
important to identify the roles and responsibilities of each team member in the event of an emergency
and assign clear tasks to each one. Plan for possible scenarios, such as the loss of key personnel or
facilities. Consider the financial implications of a threat and ensure you have sufficient resources
available to address it.

4. Prepare for Data Recovery

Data is a critical asset of any business, so a recovery plan should include steps on how you will back
up data, store it securely and access it during an emergency. Additionally, consider the age and
condition of your servers. According to Statista, servers are more likely to fail as they age: they have
a 5% failure rate on average in the first year, and by four years of age, the rate increases to 11%. By
investing in up-to-date servers and regular threat management, you can reduce the risk of data loss
and ensure your business continuity plan is effective.

Ensure the Safety of Your Business

When you work hard to build and maintain a business continuity plan, you can ensure that your
business is better prepared for any threat or emergency. Make sure to regularly review your threat
management strategy and update it as needed. Contact our team for more information.