Business Continuity Consulting and Business Continuity Planning - It’s important to have a plan when threats happen to your company. Those threats can come in many forms and sometime those threats can be predictable or market related, other times it can be beyond your control and affect global markets. These threats can come in different forms such as: pandemic, the loss of key employee, product, supplier or machinery or anything else that would disrupt the business substantially.
Our goal at Firebird Business Consulting Ltd. is to create a business environment that can withstand changes and still be able to be sustainable and functional. The business continuity strategy is not only about revenue or sales it’s about making hard decisions and having the proper framework to withstand drastic and immediate changes to your business. Assessing and understanding the risks is vital to having a solid continuity plan!
A few things that Firebird Business Consulting will assess and help guide the process are:
- Safety - What changes need to be made (if any) to ensure safety at all levels (employees, clients, suppliers, etc.)
- Communication Strategy - with customers, employees, trade partners, service providers, banks, suppliers, etc.
- Identify Priorities – Insurances, Legal, Accountants, HR (Human Resources), wages, cut-backs, etc.
- Cash Flow - banks - accounts payable - accounts receivable (understand which customers can pay and which customers cannot) - what revenue is secure and predictable - assess the situation and dissect it to the fullest extent
- Working Capital - what will be needed to get through an unprecedented time (during and after) of risk, update cash flow regularly and know where the business is at weekly. Let’s make sure we try and avoid any surprises.
- ***More than likely more issues than this may need to be assessed and addressed in the business continuity strategy
Having a plan might not eliminate the risk, but it sure can help in being able to tackle the issue and minimize the risk to the business and future of the business.
Please contact Firebird Business Consulting Ltd to discuss your business in detail as well as your business continuity plan. We can help you navigate through stressful times.