Most business owners don’t normally think they will be a victim of a natural disaster...not until an unforeseen crisis happens and their company ends up suffering from thousands or millions of dollars in economic and operational losses -- all because of the lack of thoughtful disaster preparedness. This post gives small or mid-sized businesses (SMBs) basic information on the vital importance of having a Disaster Recovery (DR) plan to help them survive any potential disasters.
As we all know, unpredictability is a fact of life. The aftermath of Tropical Storm Bill in Texas and recent floods in South Carolina are a grim and unfortunate lesson for many overconfident business owners who think their companies are spared from the likelihood of cataclysmic weather, technological malfunctions, or human actions. A 2014 survey by the IT Disaster Recovery Preparedness (DRP) Council reveals just how many companies worldwide are at risk: 73 percent of SMBs are failing in terms of disaster readiness. What does this mean? It means that 3 out of 4 companies aren’t prepared to handle emergencies and save their businesses from a worse-case scenario.
If it’s not clear and compelling enough for a business owner like yourself to consider putting a well-conceived Disaster Recovery (DR) plan into place, perhaps it’s time to give it some thought. Doing so can save you years of business loss. Here is some useful information about what DR is all about and how it can ensure your business’s survival in the wake of unforeseen circumstances.
For SMBs particularly, any extended loss of productivity can lead to reduced cash flow through late invoicing, lost orders, increased labor costs as staff work extra hours to recover from the downtime, missed delivery dates, and so on. If major business disruptions are not anticipated and addressed today, it’s very possible that these negative consequences resulting from an unexpected disaster can have long-term implications that affect a company for years. By having a Disaster Recovery plan in place, a company can save itself from multiple risks including out of budget expenses, reputation loss, data loss, and the negative impact on clients and customers.
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