Why You Need a Business Contingency Plan Now

For leisure, I read apocalyptic fiction books. I am not sure why but maybe it’s the “prepper” in me. The current series I am reading says “No plan survives contact with the enemy.” This historically comes from the German field marshal, known as Moltke the Elder, who believed in developing a series of options for battle instead of a single plan was critical. He said, “No plan of operations extends with certainty beyond the first encounter with the enemy’s main strength.”

In a small business, what happens when Plan A doesn’t work out? What happens if you don’t have a contingency for Plan B, C, or D?

On The Small Business Radio Show this week, I discussed this with Mary Beth Simon who guides business owners to create contingency plans that prepare them and their teams for extended vacations or the unexpected so the business can continue to run successfully in their absence. She founded Niche Partnership Consulting after seeing the turmoil that a lack of contingency planning caused when a dear friend developed terminal cancer. Mary Beth is a national conference speaker, a continuous learner, and loves helping business owners find peace of mind since retiring from a 30 year career at Vanguard.

Here is what we discussed:

1. What exactly is a contingency plan?
2. Why do business owners need a contingency plan and what can happen if they don’t have one ready?
3. What holds people back from preparing for the unexpected and developing a contingency plan?
4. Is it possible for contingency plans to change the way people think and operate their business?
5. What are the first steps a business owners can take now to get started creating their own contingency plans in their business and their life?

Listen to the entire episode with Mary Beth on The Small Business Radio Show.

Image: Mary Beth Simón

This article, "Why You Need a Business Contingency Plan Now" was first published on Small Business Trends