Five steps to create your own contingency plan

A simplified guide to creating a contingency plan for your business.

The cleaning industry has many risks for both yourself and your customers. Cleaning is not just regarded as an expense, it is regarded as a vital part of your customer’s business, so as it is an investment for both yourself and your customer, it’s important that you protect this investment.

The importance of a contingency plan

With so many people relying on your business –  your customers, employees, and your family, it is important that just like having insurance you protect this asset (your business). The best and easiest way is to create and regularly update a contingency plan.

What is a contingency plan?

A contingency plan is your risk analysis of your business. It covers all scenarios and allows your business to pivot or adjust quickly.

It’s a plan that is shared with your customer so they are reassured that you are in control and the business isn’t solely reliant on you and also your management and staff are across this and can respond quickly without any disruption.

This plan will also allow you to manage your costs as you have accounted for all scenarios enabling you to pivot quickly, saving time, money, and your reputation.

Building a contingency plan:

It’s easy: below I have simplified the steps to take and a template for your analysis.  All you need to do is follow the steps and fill in the template, add your logo and once completed make sure it is visual for your management team and staff. It is important that they are trained regularly on how to respond.

Step one: List down all the possible risks that will have an impact to your business and bottom line.

Step two: Involve your management team or staff so you can make sure you have identified all risks.

Step three: Consider what needs to be done to resume normal operations after the impact of the event.

Step four: Make sure that this plan is quickly accessible to all employees and stakeholders.

Step five: Always keep this plan updated – it enables your business to pivot quickly in a crisis.

A contingency plan will add value you to your business, by protecting yourself and your customer’s business, allowing you to pivot and respond quickly to risks within your business. This way you are protecting your bottom line.

So, how would you rate the importance of a contingency plan now?

Susan Crane is a business coach and director of Susan Crane Consulting. She can be reached at info@susancraneconsulting.com  or go to www.susancraneconsultng.com

This article first appeared in the July/August issue of INCLEAN magazine 

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