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Common Business Continuity Myths

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What would your business due if a major catastrophe happened? This could be anything which disrupted your business. A flood comes through and damages your warehouse. A hacker attacks your main server and corrupts your client database. Your partner suddenly decides he no longer wants to be in business. All of these major events can disrupt or even close your business down.

Business continuity planning is critical for any SMB. Is yours ready?

Some Common Business Continuity Myths

There are certain misconceptions out there about the need for business continuity planning. It is important to know the reality behind these myths.

"Business continuity planning takes too much time." How much time is it going to take to recover from a major emergency? …show more content…

According to the Insurance Institute of Business & Home Safety, 1 out of every 4 businesses will not reopen after a major disaster. Do you want your business to be one of those businesses?

Making the Investment in Your Business

A smart business knows that business continuity planning is an investment in the future of the business, no matter what happens. It will ensure your company can weather any catastrophe that might occur.

The first step is to establish the need for business continuity within your organization. You need to make this kind of planning a part of your company culture, not just a task undertaken by management. Having a central coordinator is critical. That person is in charge of establishing and implementing this kind of planning and maintaining it in the future.

Next, you need to identify and document your company's key functions and related services. You need to understand the activities and resources required to deliver your core services. You need to decide if the function is minor, moderate, or significant. And if the need for that service will change over time. For example, payroll might not be something you consider significant during the first 24 hours after the disaster occurs, but it will be significant by the next

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