There is no point in having a plan A unless you have a plan B when it comes to business. Plan A might be the route to profits. Still, plan B is the means to surviving any potential challenges because every business is at risk of minor/major interruptions from potential natural or human-made disasters. Your plan to recover from disaster and get back on track to plan A and the plan to continue running your business during lesser disturbances - your disaster recovery and business continuity plans will ensure that your business and you are not caught off guard.
The Road Best Not Taken
Among the common pitfalls that can increase a company’s risk of disaster is the lack of a business continuity plan, risk assessment, business impact analysis, prevention, and recovery plan.
Potential Disruptors: Natural & Human-Made
Your list may include data loss, cyberattacks, malware & viruses, network & internet disruptions, hardware & software failures, fire, natural disasters, inclement weather, flooding (including pipe bursts), terrorist attacks, office vandalism/destruction, and workforce stoppages (transportation blockages & strikes). There could be umpteen other unique elements that can potentially disrupt your business. Add them to your list.
Cover all Bases
Detail each one of the elements that could land you in a grind-to-a-halt situation if it is missing: people, premises, power, internet, hardware, software, and water, to name but a few. Look at your list of essentials and list down all the reasons your critical systems and functions might stop working. People: could a virus have struck down a number of your staff, or could you have received resignations from crucial members? Although it sounds pessimistic and defeatist, preparing for many catastrophic eventualities is a positive exercise. Rank the disasters based on their likelihood as well as the level of impact on the business.
Put pen to paper, conjure up the various probabilities, and put in place a viable Plan B, which may involve inputs from your core suppliers. E.g., even if you have seemingly fool-proof cloud systems, establish whether you have both central and emergency power supplies for your computer to access the cloud environment. Set your recovery time objective. How long can you cope in the absence of departing staff before replacing them? Knowing just how long you can last in plan B will help you prioritize the importance of putting new systems in place to preserve plan A or continue in a robust plan B mode.
Assign roles and responsibilities. Ensure you have calm and quick-thinking key personnel to initiate the plan in case disaster strikes. Who will take their place in case they are not available at the time? Save precious time by having at hand a directory of emergency contacts such as your bank’s fraud report line, localized emergency services, utility providers, and professional indemnity insurer.
Ensure your business continuity plan covers a range of preventative and detective measures, from SSL encryption and anti-virus software to CCTV surveillance and fire alarms. Map out the various contingency phases - response, resumption, recovery, and restoration - in your disaster recovery plan. A coordinated effort between all parties involved will help you figure out how to resume mission-critical operations within the shortest time frame.
Regular and rigorous testing will enable your plan to stand up to the most disruptive events. Record the dates, scenarios, and outcomes of each major operational undertaking so that you can analyze and address any shortcomings in the plan.
Maintain and update your plans every time an element within your working environment or infrastructure changes and people with assigned responsibilities leave or join your business. Cultivate a third-party managed services provider to provide the business continuity and disaster recovery plans if your business lacks the essential resources to do so in-house.
Data - The Lifeblood of Business Operations
Data encompasses all the emails, files, software, and operating systems that companies depend on regularly. A significant loss of data caused by ransomware, human error, or some other mishap can be disastrous to a business of any size. Backing up data via hybrid cloud technology, instant virtualization, ransomware detection, and automatic backup verification ensure business operations are minimally impacted.
Freelance Vs. Full-Time Work
A freelance Business Continuity Planner enjoys freedom with regard to flexible schedules, working hours, and location. They have full ownership of the business and can afford selectivity in terms of the variety of projects and clients presented. While it has unlimited earning potential, freelancing also has less stability and security, with inconsistent work and cash flow. There is more responsibility, effort, and risk involved. There are no paid holidays, and sick/maternity/paternity leaves are almost unaffordable. There is the added pressure of a self-employment tax and no eligibility for unemployment benefits.
However, a full-time Business Continuity Planner has access to company-sponsored health benefits, insurance, and retirement plans. They have job security with a fixed, reliable source of income and guidance from their bosses. Despite the above benefits, they are susceptible to potential boredom and inability to pursue passion projects due to their lack of time or effort. There is a lack of flexibility, ownership, and variety, compounded by the need to set aside funds for commuting and attire costs.
When deciding between freelancing or being a full-time employee, consider the pros and cons to see what works best for you.