Disasters can strike anytime, and businesses of any scale can also suffer the effects of it. In many cases, companies discover that they lack continuity and data recovery after things have gone wrong. Computer systems could have been crushed due to earthquakes, or fire has razed through the equipment in the production line. All these events can jeopardize the small business without the support of continuity and a solid disaster recovery plan.
According to studies, only 60% of today’s businesses can survive after going through various disasters, and the remaining 40% may never open again after the setbacks. For business owners, these numbers are chilling. Thus, they must find ways to ensure that their business is “disaster-proof.” Here are some ways to help you secure your business as you venture into the unpredictable future.
One of the simplest ways to protect your business is to practice regular backup of data and information. Many companies neglect to do this after doing it for the first time. Ideally, you can use off-site cloud-based data solutions to store or back up your data. This way, your business can easily access everything you need even after a disaster destroys your systems. Likewise, make sure that your data is backing up correctly and does not have any software issues.
Durability and Availability of Data
If you intend to fully recover your business data vital for your business, you have to ensure that you have these two critical components. Ensuring that your data is available and durable will help you recover the company’s website, accounting information, customer records, and more.
Data availability is about system uptime and technology that lessens disruption as it gives IT continuity via hardware and software redundancy. With this, you can still access data even when your system falters. On the other hand, data durability refers to the long-term data protection of your stored data. It ensures that essential information is protected from disasters and corruption.
The business’ physical and non-physical assets can be affected when disasters happen. Business owners need to secure data through “data vaulting.” This strategy ensures that data stored on the premises are secured because copies are sent to an off-site data bank. When you need it, you can easily and quickly recover it. Thus, business downtime and data loss are minimized.
Physical Equipment and Document Protection
Protection of business data is crucial in disaster-proofing your business, but you must also ensure that your physical assets, vital documents, equipment, and inventory are protected. It will take a single major disaster to damage your business assets and your business for a while. Thus, ensure that your assets, which are vital for the continuity of your business, are kept in a fireproof and waterproof facility.
Lastly, you should not forget to prepare your employees and help them manage your disaster continuity plan. Consider your employees as your assets, too. Giving them the right training and access to your recovery plans will ensure that they respond appropriately if any untoward events happen in the workplace.
Boost Your Insurance
If you are renting out a business space, it is also a good idea to review and boost your renter’s insurance. Often, your landlord policy will not cover disaster damages. Most business owners have insurance policies for their business. However, it is sometimes not enough, especially if the policy has not been updated for a while. Consider re-running the numbers to ensure that you have ample coverage to rebuild your business completely if a disaster strikes. Ideally, you can add “extended replacement costs” coverage as long as you can afford it. Your policy coverage will boost by up to 100 percent. This is a great move if your location is considered a disaster zone.
Emergency Access to Your Passwords
Experts also suggest that businesses utilize password managers to ensure that business accounts are secured using hard to remember and unique logins. With these tools, you can also have trusted persons access the account in case you are unavailable. There are also options for emergency access for other personnel in the business. But you can always keep a master password or keep copies of the passwords you use in your business through these tools.
Venturing into a business is not for the frail of heart. It takes so much hard work, time, money, and effort to build a business and see it grow. However, disasters can strike anytime, and they can hit your business badly.
Some businesses can no longer reopen because they did not prepare well for these unfortunate events. Ensure that you protect your business from potential disasters so that you will not start back up from zero. With the right contingency, continuity, or recovery plan, your business will experience minimal downtime, and you can get back up sooner than you know it.