The Business Continuity Question Nobody Wants To Ask
I had two REX members end up in hospital recently. One in the US for nearly 2.5 weeks and the other in Australia for a week. Thankfully both are okay.
But it reminded me of the old question, “What happens if you get hit by a bus?”
Morbid? Maybe. Important? Absolutely.
Many businesses are way too dependent on the owner and the key people.
Let’s be realistic, you:
- Know all the passwords.
- Approve the payroll.
- Solve the problems.
- Hold the relationships.
- Know where and how to do everything.
And while that can make you or others feel important, it can also make your business incredibly fragile.
I remember years ago hearing someone say:
“If your business can’t survive without you, you don’t own a business, you own a stressful job.”
Writing the “Hit By A Bus” Manual is a critical task for every owner and manager. It’s simply a document or folder that answers:
“If I disappeared tomorrow, what does the next person need to know?”
We all have so much knowledge in our heads that weekly we need to start documenting this information, just in case.
Your Weekly Challenge
Answer this question, if I disappeared tomorrow what would happen and what would not happen?
Then start working on the list of what would not happen.
Justin is the Managing Director of Active Management, which he began January 2004. He offers coaching to businesses worldwide in everything from start up and design to marketing and sales systems. Justin also facilitates four Australian and New Zealand ‘fitness industry roundtables’ events, which allows him to see a huge cross section of business models.