GOLDEN, Colo., April 24, 2020 /PRNewswire/ -- Companies who were planning for growth just weeks ago are now faced with bankruptcy, overwhelmed and making brash decisions to either furlough employees, conduct mass layoffs, defer vendor payments, and/or closing their doors forever. The government stimulus packages are not enough to sustain a once thriving business on the brink of bankruptcy.
OUTRIGGER ADVISORY GROUP is providing a Business Continuity Plan which follows their Core Business System encompassing Leadership, Culture, Structure, and Innovation. Within this core process is their Business Continuity Plan with a 4-step process.
Business Continuity Plan: 4-Step Process:
- Analyze the Situation
- Create A Strategy
- Evaluate & Measure
The free business continuity template at https://businesscontinuityplan.outriggeradvisorygroup.com/
allows team leaders to plan for their next steps during a crisis.
During a time of crisis, the leader may go into panic mode. They will be frantically researching options to cut expenses, drive promotions, or may sit and wait hoping it passes quickly. They are documenting processes, cross-training staff, and analyzing their most viable resources such as human capital and technology. They are challenged with a mandated remote workforce and need to develop urgent processes for telecommunication. They are realizing the risks of a swift transition to working remotely and with data breaches and technology requirements.
Mapping out a plan for threats is crucial. This plan needs to align with a company's Culture Code. What will your company do when faced with unchartered waters? Keeping your actions aligned with your original ethics are crucial to survival, yet may be hard to see in a time of despair.
Questions to ask your leadership team:
- How will your decisions affect the supply chain?
- What if you renegotiate terms with vendors and they go out of business?
- What if your customers delay payments?
- What if you furlough your workforce and they find new positions?
- How will your staff function with an increase in workload as you cut costs?
What challenges is your company facing?
Webinar: The State of Small Business: http://thestateofsmallbusiness.com/
FREE Business Continuity Template: https://businesscontinuityplan.outriggeradvisorygroup.com/
OUTRIGGER ADVISORY GROUP, LLC
Amber Pember is a Senior Advisor and CEO of OUTRIGGER ADVISORY GROUP, a progressive marketing and operations consulting firm in Golden, Colorado.
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