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Hardwood Executive 

Building a Business Continuity Plan

In the event of a major disaster, what plan do you have in place to prevent business disruption? If your answer is “none,” the new OFB-EZ Toolkit (Open for Business-EZ), from the Insurance Institute for Business & Home Safety (IBHS), is simplifying the process of creating a Business Continuity Plan.

The OFB-EZ Toolkit is a step-by-step guide to managing business disruptions. Its Master Checklist covers ten areas of importance, complete with guidance forms, to get your Continuity Plan underway. For example:

Know your Risks, your Operations, your Finances

  • Identify the most serious threats to your business by focusing on the most likely disruptions and their impact.
  • Understand your business’s most critical functions and how to perform them, if there is a disruption.
  • Ensure that your business is financially resilient by starting an emergency reserve fund; establishing a line of credit; getting adequate insurance, etc.

Know your Employees – Document employee information so you can connect with them before, during, and after a disruption. And designate a phone number where employees can get status updates and leave messages.

Know your Key Customers, Contacts, Suppliers, and Vendors – Document contact information and establish ways to communicate about the status of your business operations, your product or service, delivery schedules, etc.

Know where to go for Help – Gather information on helpful resources and build ties with your community and outside agencies that can help you recover quickly from a disaster.

The bottom-line goal is to continue to perform your most critical operations, should the worst happen. Download the Toolkit today - - and get started on building your Business Continuity Plan.