Contingency Planning

Contingency planning is an often looked over aspect of planning and structuring an online and/or offline business operation.

Some of you may ask:

What the heck in mickey mouse's name is Contingency Planning?

Quick Answer:

Contingency planning is the planning and analysis of any risk management plans and procedurs that are implemented into the running of a business.

Some of you may ask:

Why do we need this?

Quick Answer:

While businesses run smoothly 90% of the time, the other 10% is crucial to retaining some of your customers, your reputation, and your time in business actually making a profit. If this 10% is apparant without any form of physical back-up motive in place, your business is likely to fail. This will become visible in your latest company cash flow report.

A contingency plan should include the following aspects:

• Risk Management Realisation
• Backup & Alternative Methods (prevent business failure)
• Careful Detailed Management Analysis

You may also want to consider some fictional scenarios, in order to manage and plan your strategy to a higher more efficient level.

Remember, a better business can be created and evolved from a business without options. A contingency plan simply helps provide the opportunity for change and expansion within a business, by covering those nasty little pitfalls which some companies often incur.

I hope this has been helpful to some, if not all of you

Thanks