It’s a sad fact that in the US, 8 out of 10 new businesses fail within their first year of operation. This makes those first 12 months of your new start-up company vital to its success, and if you can get past your first year, that’s a decent indicator of your business’s potential for success. Although – if you’re forecasting correctly – you’ll be able to spot some of the holes in your business plan before they have potential to damage your business, as there are bound to be issues that you could never predict.
It’s when problems like these strike that your business will really show what it’s made of. In a lot of cases, these circumstances require a lot of thinking on your feet, but there are some disasters that face all businesses that you can simply half with just a little bit of forward thinking. So without further ado, here are some ways to disaster-proof your business.
Implement a Process-Driven Structure
There are really only two kinds of business. The first is one that solely relies on the talent of its employees to ensure that jobs get done when and how they should. The other type of business is one that measures their talented team members, tracking processes and delivery to make sure that everything is as it should be.
By far and away, the second type of business is sure to be more disaster-proof, as you’ll be able to see a subtle decline in performance in one aspect of your business before it reaches a crisis point, allowing you to fix it before it does.
Physical and Digital Back-Up
Next, it might seem as though your office space, equipment, and digital files are all disaster-proof, but one electrical surge, one robbery or a single flood could be enough to cause your business to shut down.
Ultimately, this makes backing up your physical and digital assets essential. This even goes down to power, and thankfully it’s straightforward to do so thanks to the portable generators available from companies like Critical Power Supplies.
Limited, Controlled Growth
Finally, this might seem counterintuitive to success, but if you see your company expanding rapidly, try to stop some of the growth. The reason for this is that while the continued growth of a business is only natural, it is important that the growth is controlled and measurable.
If left unchecked, you might find that you’re growing your business beyond your control, and you’ll soon find yourself way in over your head.
Ultimately, all businesses are prone to various disasters, and your company’s survival is determined therefore by how well you can protect against these issues. Implement the above strategies to ensure your business’s continual success.