#30 | A Contingency Plan Could Save Your Business

Contingency Plan

The Struggle is REAL!

Yep…we got hit. And we got hit hard! But we are small and nimble here at Chill, so we were able to pivot quickly and keep going. And you can bet we are drafting a contingency plan for this exact scenario!

See, we use a third party tool to do our posting work for our clients. When we were shopping for a tool, we chose this one because they were listed on Facebook’s website as an approved Marketing Partner.

And now, that third party posting tool lost its privileges with Facebook to use their API. Which means they no longer can provide the service to their clients (ie: us) to post on the platform. Ok, so we pivot and find another tool.

The bigger tragedy in this situation is that not only can we not post to Facebook and Instagram, but ALL historical posts that were made on Facebook (no matter the account) are gone. Poof! See ya bye!

[Update: As of 1pm on 8.27.19 the historical posts were back!]

And that my friend, is the BIGGEST tragedy in this scenario. It is also the reason that contingency plans are so important for businesses. When something goes wrong in your business (even when it’s out of your control), you should have a plan in place.

Creating a Contingency Plan

Once you feel the pinch of needing to create a contingency plan for hiccups in your business, then you should not only create one for that scenario, but for all facets of your business that could be affected one day.

Risk Assessment

Determine the most critical operations in your business and see where they are vulnerable. I share some examples in this episode of areas you should look at for your business.

Then rank the operations from most critical to least critical as you want to get a contingency plan in place for each of your most critical operations.

What will the Contingency Plan cover?

For each critical operation in your business, determine what some of the scenarios are that could cause you to need to use a contingency plan. What will be the triggers? Who will have responsibilities to implement the plan? Determine the timelines for the plan. I go into these areas more in the episode.

Involve Your Team

Get input from all parties that would be affected by a crisis this contingency plan is covering both at the planning phase and once it’s created. You may even want to run some drills to practice what needs to change when the contingency plan goes into effect.

Review Your Contingency Plan

Be sure to mark off your calendar to review your contingency plans at least once a year. Things change, so you want to make sure you are as prepared as possible during a crisis.

Make it part of the Hiring Process

You may even want to consider having new hires go over all contingency plans as part of their on boarding process.

Review any Client Contracts that are affected

Once you create your contingency plan, then go over any client contracts you may use to see if the policies you set forth in these plans are mentioned in the contracts.

Further Reading

Here is a list of articles we have curated for you if you want to read about more on this topic:

Until next time…

Dianna

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