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Tag Archive: employees

Ensure A Rewarding Experience When Hiring Others

Ensure A Rewarding Experience When Hiring Others
Hiring an employee can be a big step for many small business owners. It means the end of doing EVERYTHING yourself and passing off some of the work!

In order to make the experience rewarding for both you and your employees there are a few things that every boss and leader should do…

1) Reward people for a job well done.  Its frustrating working for someone who enjoys all the financial rewards of the efforts put forth by the entire team, especially if they don’t recognize what everyone has accomplished and contributed.

It doesn’t take much to acknowledge the effort of your staff. It makes a HUGE difference in the working atmosphere when you take a few moments to acknowledge your team. People like to know that they’ve done a good job.

2) Always provide a balance between positive and negative comments. Your job as a leader is to recognize the talents of those around you and feed them with the motivation and positive energy to take YOUR ideas to entirely new levels. Help them serve you better by building up their confidence… not tearing it down.

3) Step up and accept responsibility for your projects. At the end of the day if things don’t go according to plan, in my opinion, the responsibility falls onto the leader’s shoulders. Stand up and accept the responsibility should anything ever go wrong.

If your staff always bear the burden of projects gone bad, it will drag people down and destroy your working environment. Start contributing to the emotional bank account of those around you.

If you acknowledge the behavior you want to see more of, you’ll start seeing more of it. Be positive and accept some responsibility when things don’t go according to plan.

4) When you have good people it’s your responsibility as a leader to hold on to them. People with talent will take your company to entirely new levels but if they keep leaving, the growth of your company will be stinted.

People with skills know that they have options. Hanging the carrot of a potential big pay day will only work for a certain period of time. After a while it wears off and they start looking elsewhere. The last thing you want is for them to end up with your competition.

So the moral of the story is find good people, train them, treat them well, and your business will take off.

March 29, 2014 Today's Business, , , , , , , , 1 Read more >

Building A Successful Business

Building A Successful Business
Starting a business and becoming successful is often part of the American Dream. But there is a difference between starting a business and building a successful business. Many businesses fail within the first few years of existence due to the lack of planning for the long-term. There is not enough vision and there is not enough done to strengthen the business properly from the ground up.

If you want to start a business there is an easy way to get a better understanding of why some businesses fail and others don’t. When starting a business think about it similar to building a house. If done right it is protecting you against any kind of storm or danger of the outside world and will last for a long time. It offers shelter and protection. For you and your business that could be translated to that you want to have a business that is able to weather economical ups and downs (=storm) and that will provide income to pay the bills (shelter and protection).

When building a house there are several different steps you need to follow to have the house build. You know you want a house, but you got to pick a location and get an architect to plan everything out. In the business world that would be: you know you want to start a business, but you have to come up with a business idea and work out a business plan. The next thing for the house would be to build the foundation (and eventually the basement) for the house. In the business world – you got to build the initial infrastructure (example: connecting with vendors, find a manufacturer for your product, create a sales team, rent office space, get a delivery truck, etc.). Once that is in place you able to actually do business and earn some money. But you are not completely done yet. You need to build a frame, put in windows and you also need a roof on house. For your business this means that you pay off debt, improve business processes and get professional help when needed (example: find a tax accountant, select a payroll service, etc.).

Once the house is build you probably want to fill it with furniture and make it livable for the future. Nobody wants to sleep on the floor, right. Again translating this to the business world it could mean that you invest money you earned back into your business. You buy machinery instead of leasing it. Eventually you buy a building, hire more staff, develop more products, move into new markets, build up a high cash reserve, and buy other businesses and so forth. This is often the step where winners and losers separate. Re-investing money into the business is a key factor for success. If you go and spend all the money on your own salary to buy things you have nothing to go back to when the economy slips into a recession or if disaster strikes.

The successful business owner has build up a cash reserve or can borrow money from bank – securing loans with the assets of the business. Going back to building a house this pretty much matches the same efforts. You pay off your mortgage and have equity available to eventually borrow against when emergency arises. Emergencies do not include paying off credit cards to use them again or to buy a car. Financially responsible you should be looking at the long term and not finance short-term goods with long-term debt.

January 10, 2014 Today's Business, , , , 0 Read more >

Think Before You Leap: Seven questions to ask before making a big decision

Think Before You Leap: Seven questions to ask before making a big decision
by Heather Chaet.

When deciding to use a beautiful photo of Mount Fuji or that funny cat picture as your screensaver or to have the Cobb salad or a turkey sandwich for lunch, a simple coin flip will do. But, for big decisions that affect the direction and success of your company, navigating which way to head when you reach that fork in the proverbial road means you need something more than the quarter in your pocket.

LookBeforeLeap_PQ.jpgWhat is your decision-making GPS system? Small business owners are confronted perhaps daily with large dilemmas or issues to resolve—having a method to make a smart choice streamlines and focuses those often daunting determinations you need to make. Here’s a checklist of seven questions to ask before making that big decision.

1. What is best in the long term?

When making a big decision, thinking beyond the “right here, right now” is a vital first step toward avoiding a big stumble. “It’s easy to make decisions based on what’s [simple] at the moment or what makes my ego feel good. But those are rarely the right decisions,” says Ian Ippolito, founder and CEO of vWorker.com, which connects employers and entrepreneurs with virtual workers. Sometimes it helps to add a specific time frame on that question, as Paige Arnof-Fenn, 
founder and CEO
 of Mavens & Moguls, a global marketing strategy consulting firm, suggests. “[One of] the main things I think about is
 will it matter six months down the road,” says Arnof-Fenn. Thinking in terms of a finite time horizon often provides better insight to the right solution.

2. What is the return on investment?

For any small business owner, evaluating how this choice will impact your bottom line is essential. Christy Cook, president and founder of Teach My, the maker of award-winning learning kits for children, agrees. “I am not a ‘numbers’ girl, but over the years, I have trained myself to ask 
the same question every time: What is the return on investment? If small business owners don’t measure
the ROI, decisions will be made that could put the business into serious
 financial jeopardy.” Fred Deblasi, cofounder and CEO of HooplaDoopla.com, the online money saving site, says ROI goes beyond just finances, “I think this is a very common question for business at any stage, as it can cost money and time to not get a return on something—[whether it is] a marketing decision or even hiring a new employee.”

3. Are there any other decisions that need to be made before this one?

All too often when running a small business, many issues must be dealt with at the same time. Prioritizing which one needs your immediate attention is as tough and as important as figuring out the right answers to those decisions. “For the last year, we’ve been implementing a raft of changes, and we
 always need to weigh the pros (and any cons) of the change and see if
 anything else is needed more urgently,” says Sandip Singh, CEO and founder of the fundraising website GoGetFunding.com.

4. What’s the worst thing that can
happen if I make a mistake (and can I live with it)?

Just as fundamental as exploring the benefits to any change, looking at the worst-case scenario can provide a prime perspective. “We use the same advice in running our [own] business as we give to the business
owners we work with,”
offers 
Jim Stewart, founder and CEO of ProfitPATH, a strategy consulting firm, “For them and us the main question is ‘What’s the worst thing that can 
happen if this goes wrong?’”
 Being able to evaluate how your company will handle a situation if projections are incorrect or unexpected additional funds are needed to complete an expansion is crucial.

5. What will happen if I don’t do this?

Stewart often asks this after tackling the doomsday situation. Envisioning the alternative—doing nothing—can lead to a more definite outlook on the issue, perhaps even providing alternative choices not considered before or a totally new path your company could take to achieve a similar result.

http://smallbusinessonlinecommunity.bankofamerica.com/community/running-your-business/generalbusiness/blog/2012/10/04/think-before-you-leap-seven-questions-to-ask-before-making-a-big-decision

January 2, 2014 Today's Business, , , , , , , , 0 Read more >

4 Tips in Rewarding Experience When You Hire

4 Tips in Rewarding Experience When You Hire
Hiring an employee can be a big step for many small business owners. It means the end of doing EVERYTHING yourself and passing off some of the work!

In order to make the experience rewarding for both you and your employees there are a few things that every boss and leader should do…

1) Reward people for a job well done. Its frustrating working for someone who enjoys all the financial rewards of the efforts put forth by the entire team, especially if they don’t recognize what everyone has accomplished and contributed.

It doesn’t take much to acknowledge the effort of your staff. It makes a HUGE difference in the working atmosphere when you take a few moments to acknowledge your team. People like to know that they’ve done a good job.

2) Always provide a balance between positive and negative comments. Your job as a leader is to recognize the talents of those around you and feed them with the motivation and positive energy to take YOUR ideas to entirely new levels. Help them serve you better by building up their confidence… not tearing it down.

3) Step up and accept responsibility for your projects. At the end of the day if things don’t go according to plan, in my opinion, the responsibility falls onto the leader’s shoulders. Stand up and accept the responsibility should anything ever go wrong.

If your staff always bear the burden of projects gone bad, it will drag people down and destroy your working environment. Start contributing to the emotional bank account of those around you.

If you acknowledge the behavior you want to see more of, you’ll start seeing more of it. Be positive and accept some responsibility when things don’t go according to plan.

4) When you have good people it’s your responsibility as a leader to hold on to them. People with talent will take your company to entirely new levels but if they keep leaving, the growth of your company will be stinted.

People with skills know that they have options. Hanging the carrot of a potential big pay day will only work for a certain period of time. After a while it wears off and they start looking elsewhere. The last thing you want is for them to end up with your competition.

So the moral of the story is find good people, train them, treat them well, and your business will take off.

 

December 27, 2013 Today's Business, , , , , , , , 0 Read more >

More Small Business Cost Saving Through Safety

More Small Business Cost Saving Through Safety

Business Cost Savings Through Safety

Setting a health and safety program in place will reduce costs. Having a program will reduce accidents and will lead to lower company worker’s comp premiums; further business insurance companies prefer their customers to have health and safety programs. These insurance companies might even discount the premium if a program can be proved to exist. The average cost of an accident is $68,000. Direct costs in accidents such as worker’s comp and fines levied can close a business. Indirect costs such as low morale of employees, legal fees, and retraining can be as costly if not more. More Small Business Cost Saving Through Safety

A working program will:
1) Improve employee morale – Shows care in their well being
2) Reduce revenue loses – Fewer accidents keeps all employees at work
3) Give a boost to the customer – Makes sure business is operating optimally
Small businesses that have a voluntary health and safety program in place have fifty percent less accidents and reported insurance claims than that of their counterparts according to OHSA stats. Most small businesses fall below the legal requirements for having a formal health and safety program in place due to number of employees on staff. Sixty eight percent of reported accidents are in the service industry which shows even businesses such as retail establishments are not free of accidents. More Small Business Cost Saving Through Safety
A health and safety program can be started by writing a health and safety policy; this is simply values that a company wishes to convey in its work processes. Secondly, is how communication between all employees and owners will function. And lastly, put procedures in place to ensure safe practices. More Small Business Cost Saving Through Safety

To find unseen hazards and unsafe practices, an audit needs to take place. Take a hard look at the workplace and record all factors that may lead to injury. These hazards might be dangerous chemicals or as simple as a letter opener. Identifying these hazards will lead to procedures to controlling them. Controls such as “Don’t run with scissors in your hands” are effective. Write all procedures in a manual.

Implementing these health and safety procedures will be done with behavioral change. Some programs become weak and non effective because of:
1) No definition of safety practices – No written processes
2) No teamwork – Safety is communication from the top to bottom and vice versa. A well written plan will describe what roles everyone plays in safety policies.
3) No effective goals – The “accident free days” poster will come as a result of sound safety processes. More Small Business Cost Saving Through Safety
4) Wrong incentives – Money as a reward does not work well. Health and safety should be fun and worth employees effort. The right incentive plan can be cost effective and have obtainable goals. Incentive plans can include movie passes or simply “free coffee on the boss.” The insurance industry reports for a dollar spent on health and safety yields four to six dollars in savings.

Once all of the hard work of developing and implementing the health and safety program is done, set aside some time each month to review the workplace. Record what is found; this is a good practice to see dangerous trends that might occur such as a fire exit constantly being blocked. On the quarters of the year post a meeting with employees. These meetings are a great way to get vital feed-back from employees and keep them involved. At least once a year, do an audit to make sure your health and safety program is current with present business operations. More Small Business Cost Saving Through Safety

December 7, 2013 Today's Business, , , , , , , , , , , , , , 0 Read more >

How Background Checks Can Help Your Business

How Background Checks Can Help Your Business

How Background Checks Can Help Your BusinessHow Background Checks Can Help Your Business. If you are running a business, you probably know that the people that you hire can either make or break your business. This is why it is so important to make sure that you hire only the best employees to work for you. However, it is easy to accidentally hire an employee that is a “bad apple” and you’ll definitely end up paying for your mistake. If you want to make sure that you hire only the best employees, then it’s time to start running background checks on employees before you hire. How Background Checks Can Help Your Business

There are many employers today who are turning to employee screening to make sure they get the best employees possible. If you’re not sure that background checks are the right choice for your business, here are a few of the main benefits that may change your mind.

Benefit #1 – Lower Turnover – One of the main benefits of using background screening on your potential employees is that it can actually lead to lower turnover. It can be quite expensive for your company to have a high turnover of employees. However, screening before you hire can help you avoid this.

Benefit #2 – Better Attendance – Attendance is important to your company as well. Your company cannot function well when employees are constantly absent from work. Employee screening can help you week out people that have a bad attendance history at work .How Background Checks Can Help Your Business

Benefit #3 – Reduce Incidents of Theft – You’ll also find that background checks can help you reduce incidents of theft at your company as well. They allow you to take a close look at the criminal record of potential employees to decide whether or not they are trustworthy or not.

Benefit #4 – Experience Productivity – Another great benefit of using background screening before you hire is that your company will experience better productivity when you do this. You won’t end up with people who slack off on the job or who don’t want to be there. You’ll have quality employees who really make your company better.

Benefit #5 – Find Qualified Employees – Having qualified employees is very important if you want a profitable business. So, take a look at their background checks to see how they have performed in the past and if they really do have the qualifications that they say they do.

Benefit #6 – Make Sure the Person is Who They Claim to Be – Last of all, employee screenings allow you to make sure that the person you are considering for hire is really who they are claiming to be. This makes sure that you are protected and that you really know who you are hiring. How Background Checks Can Help Your Business

 

November 13, 2013 Today's Business, , , , , , , , , , , , , , , , , , , 0 Read more >

How to hire a CEO for your small business

How to hire a CEO for your small business
by Susan Caminiti.

How to hire a CEO for your small business. It may sound counter-intuitive, but the skills needed to start a small business—perseverance, patience, and passion, to name a few—aren’t always the same ones necessary to take a company to the next level. Sure, as the founder you’re the person who came up with the brilliant idea for your product or service, and can zealously promote it to potential customers better than anyone. But if you can’t (or don’t want to) deal with the day-to-day functions of running a growing enterprise, it might be time to consider bringing in a chief executive officer.

Charley Polachi, a partner at Polachi & Co., an executive search firm in Framingham, Mass., works with many small companies as they’re entering their early growth stage. He says the first step he recommends for any founder looking to hire a senior manager is to define the pain they’re trying to address. “Usually it’s a matter of too much or too little,” he says. “The small business owner is either too busy and can’t keep up with all aspects of the business adequately, or the business has stalled and he or she needs someone who can come in and move it ahead.” How to hire a CEO for your small business

Know what you want

Regardless of which scenario is driving the decision, the experts we spoke with all agree on one thing: define the CEO job thoroughly before you start your search. It’s not enough to say you want someone with financial or organizational skills. As you draw up a detailed list of the attributes and qualities you’re looking for, go a step further, suggest Polachi. What functions will this person be responsible for every day? What are you able to pay? And of course, as the founder, what roles and duties are you willing to realistically delegate? “Very few small businesses need a clone of the owner,” explains Dan Bowser, president of Value Insights Inc., a business valuation and exit strategy consulting firm based in Summerville, Pennsylvania. “When you’re drawing up the specs for this new person, you want to hire someone with skills and abilities that you don’t have.” How to hire a CEO for your small business

Evaluate the person, not just the resume

Once the job has been defined, don’t rush through the interviews. “There should be no fewer than three interviews when you find a promising candidate,” says Polachi. Each time you bring them back, the conversation should delve deeper into determining if you’ve found a good fit. “Ask them if they’ve ever scaled-up a business and how they did it,” he adds. “When you’re bringing someone into a small business in a senior position, his or her management style is absolutely critical.”

That’s because the skills and style that worked wonderfully in a billion-dollar corporation with thousands of employees doesn’t always translate well into a million-dollar organization with dozens (or fewer) workers. “There is a huge difference in support and responsibilities between a big and small company,” observes Bowser. “Everything from having to make your own travel arrangements to the ego boost that comes from working for a big company—all those issues have to be considered before bringing someone into your small business. I’d have real concerns about an otherwise great candidate if all they have is big business experience.” How to hire a CEO for your small business

HireaCEO_PQ.jpgDon’t expect perfection

What if you do everything right to find a CEO for your company and the person still doesn’t work out? For starters, don’t panic. Experts say most small business owners aren’t terribly good at (or even like) the hiring process, so the chances of getting it wrong—even when looking for a senior person—are pretty high.

John Brown, president of the Business Enterprise Institute (BEI), agrees. He recently worked with a couple that was routinely clocking 50 hours to 60 hours a week at their small business and hadn’t taken a vacation in 15 years. They hired a senior manager to relieve some of the burden, but when he didn’t work out they moved him into sales and contacted Brown about selling the company. “They were so burned out and so sure they’d never find the right person that they just felt they had no choice other than to sell the business,” he says. How to hire a CEO for your small business

To avoid that sort of draconian response, set 60- and 90-day performance reviews once you’ve hired someone into a senior position. “You’ll probably know within the first 30 days if this person is going to work out, but after 90 days you should certainly have a feel for whether this was a smart hire,” says Brown. And if it’s not, Brown says he likes to remind his clients of management consulting guru Peter Drucker’s advice: Hire slow and fire fast. How to hire a CEO for your small business

Understand your new role

“Someone can be an ex-CEO of a company or an ex-president, but no one ever introduces themselves as the ‘ex-founder’ of a company,” says Polachi. “Once you’re the founder, you’re always the founder.” That doesn’t mean, however, you’re going to play the same role if you’ve decided to bring in a CEO. How to hire a CEO for your small business

Bowser advises clients to take the time to introduce the new manager to existing staff, outline his or her responsibilities within the organization, and then clearly state that this new person has your full support. Do not tolerate end-runs around your new hire by employees who say they’re more comfortable working with you. “That will only confuse people even more and undermine the person you’ve brought in,” Bowser says. “Calmly explain that the new person is now handling some of the duties you had been and ask them to work directly with him or her. Eventually employees will get the message.” How to hire a CEO for your small business

June 7, 2013 Today's Business, , , , , , , 4 Read more >

Interns Can Grow Your Small Business

Interns Can Grow Your Small Business Interns Can Grow Your Small Business

by Susan Caminiti.

Interns Can Grow Your Small Business Remember when you were in college and couldn’t wait to get some work experience out in the so-called “real world”? Well, there’s a current crop of college students who feel the same way, and when utilized correctly, they can be a big help to your small business. Interns Can Grow Your Small Business

 

Contrary to what you might think, college interns aren’t just for Fortune 500 companies. Whether for the summer or during the fall and spring semesters, hiring an intern enables you to influence the next generation of professionals that will soon be out in the workforce—and gives you valuable insights from young, enthusiastic men and women who are interested in your industry. In fact, in a survey of their members, the National Association of Colleges and Employers (NACE) reports that employers last year planned on hiring 8.5 percent more college students for internships than they did the prior year. Interns Can Grow Your Small Business

 

Before you rush out to your local college or trade school to find students to hire, however, there are some basics do’s and don’ts of internships that are important to understand. Some are simple common sense, but others, if violated, could run afoul of the Fair Labor Standards Act. Interns Can Grow Your Small Business

 

Define the job

The first thing to understand is that these opportunities are more for the benefit of the college student than your small business. Think of internships as a smart way for you to take your experience and success and pay it forward. That’s not to say, however, that there can’t be an upside for your company. Interns Can Grow Your Small Business

 

That’s why it’s important to take the time to define what you really expect from any intern you bring in—the same as you would a full-time employee. Decide on the job functions, how he or she will benefit from the internship, and who will supervise the intern.

 

Crissy Koehler, vice president of sales and marketing for Parties That Cook, a San Francisco-based firm that stages hands-on cooking parties and corporate team-building events, says that her company hires interns for its marketing department and for its kitchen management functions. “The students we bring in for our marketing department need to be proficient in social media and communications,” she says. The students in the kitchen management program need food- and cooking-related skills.  “We make it very clear in our job descriptions what the candidate will need for a specific internship,” Koehler adds. Interns Can Grow Your Small Business

 

Hiring-Interns_PQ.jpgGet your staff involved

Tara Goodwin Frier, founder of the Goodwin Group, a public relations firm based in Walpole, Mass., has two to three unpaid interns working for her at any given time. She typically finds them by attending college fairs or through the connections she’s developed as a guest lecturer at Boston University. Interns Can Grow Your Small Business

 

While she always makes sure to interview each candidate herself, she also has her younger employees interview the college student as well. These “peer interviews” as she calls them, often reveal more than what Frier will be able to glean. “It’s amazing what a college student will say—or reveal—to someone closer to their age,” she says, noting that some candidates have admitted during the interview process that they’re not even sure what they want to do with their lives. “As much as we value transparency in my company, I do tell these students that that’s something they probably don’t want to repeat in other job interviews,” Frier says. Interns Can Grow Your Small Business

 

Decide paid or unpaid

Given that most small businesses are not flush with money, many opt to offer unpaid internships. In most cases, the student will receive college credits for the hours worked in lieu of a paycheck. While hiring an unpaid intern is perfectly legal, there are some guidelines established by the Department of Labor that must be followed. Among them: The intern’s training should be centered on the skill they’re pursuing in college—writing, accounting, culinary trade—and not something unrelated to their studies. In other words, having an unpaid intern around as a source of cheap labor to pick up office supplies or fetch your dry cleaning would likely be frowned upon by the Labor Department. Interns Can Grow Your Small Business

 

Frier doesn’t pay her interns, but she does cover expenses related to any events she has them attend on behalf of the company and its clients, and does offer a stipend of several hundred dollars at their end of their internship. “They are getting college credit for the time they’re spending with the company, but I also think the stipend shows that we value their contribution,” she says. Interns Can Grow Your Small Business

 

Be ready to offer feedback—and patience

Though some interns will shine brighter than others, it’s important to keep in mind that they’re still college students and will likely need some gentle course correcting—or sometimes more—while they work at your company. Interns Can Grow Your Small Business

As a public relations firm with several high-profile clients, including the NFL’s New England Patriots, Frier often needs her interns to interact with reporters. “One of the things I noticed was that college students lack telephone etiquette,” she says. “They’re so used to simply texting or emailing.” To break them of that habit, Frier says she’s written out scripts for what they need to say on the phone when they reach a reporter to figure out if they’re interested in covering a particular event or client. “We work in a multi-generational world,” she says, “so it’s important that we stay aware of the skills that each generation brings with them—or doesn’t.” Interns Can Grow Your Small Business

June 3, 2013 Today's Business, , , , , , , 0 Read more >

Small Businesses Should Prepare for the Worst Case Secenario: Business Planning Is Key

Small Businesses Should Prepare for the Worst Case Secenario: Business Planning Is Key

A disaster striking your small business and the community in which it operates is a scenario no one wants to think about. Yet not thinking about what you will do in the event of a hurricane or flood can end up costing you much more than just rebuilding costs. Michael Bremmer, CEO of TelecomQuotes.com, likens disaster preparedness to planning for a funeral: “You know it’s going to happen, you just don’t know when, but you’re much better off if you’ve taken the time to have a plan.” In fact, as the recent devastation caused by Hurricane Sandy on the east coast so clearly demonstrated, preparing your company for a disaster, natural or otherwise, needs to be an integral part of your ongoing business planning. Beyond buying insurance, having safeguards and continuity procedures in place are among the most important actions you can make for the health of your company.

 

 

Get set up virtually and remotely

Virtual storage and remote desktop systems have transformed the ability of businesses to continue to work even if their physical location is unavailable. It is essential to develop daily and weekly procedures for all of your employees utilizing these capabilities. Having data backed up via off-site servers (preferably in a location far from where your company is), as well as on a cloud storage system that can be accessed remotely allows your employees to work from home or a temporary location should the situation arise. Though you may have minor delays and slower output, you can still meet the needs of your customers if you invest in the technology.

 

During and after a disaster, your company will not only need access to data, but also to assets. Richelle Shaw, entrepreneur, author, and president of the National Association for Moms In Business, says one of the ways she prepared for a disaster was to have a relationship with two banks—one local and one national. “My cousin was located in Louisiana during Hurricane Katrina,” she recalls. “Her local bank was flooded out, and she did not have access to money. When I heard her story, I immediately opened an account at a national bank.”

 

 

ContinuityPlanning_PQ.jpgDouble (or triple) up

Though you have copies of your important documents protected off-site, other elements of your business should also be duplicated. Jan Decker of Crisis Management Consulting suggests having alternate suppliers and ways to deliver your products. “If shipping is interrupted or specific products are not available, strategize alternatives and keep in contact with [your] customers,” Decker says, “Small business owners that depend on a single source [of] suppliers should have replacement or contingency providers.”

 

Justin A. Meyer, an attorney with Meyer and Associates who works with small businesses on Long Island, New York, takes the idea of doubling up one step further. “There should be at least two people with keys to the front door and at least two people who know the passwords to the computer systems,” Meyer notes, “Small business owners, because they may only have a few employees, are in a more precarious position. The most important thing they can do is to have some redundancy.”

 

 

Know who to call and who’s in charge

Whether your company has three employees or 300, the same priority holds true during a disaster: communicate with employees. “Have a current, updated list with contact information for each employee,” says Jeff Garr, founder and CEO of HR Knowledge. “It could be a chain of phone calls where the supervisor alerts his team, or it could be a website with centralized information. Whatever the plan is, be sure to communicate where the information can be found and how
it will be communicated.”

 

If the main person in charge is unable to resume control after a disaster, designate in advance  who will step into that role. “Small business owners need to have a power of attorney agreement with a trusted surrogate in the event the owner is unable to take care of business,” says Decker, “Good candidates are attorneys, CPAs, banking officers, trusted family members, or friends. This is to keep the business in operation until the owner can return or other suitable arrangements are
made.”

 

 

Make a detailed emergency plan and review it

Having a specific, written emergency plan is key for every business, and being sure everyone knows that plan is vital. “Review the plan with everyone in your company and trusted advisors, [and] confirm everyone knows their roles in case of an emergency,” says Bremmer. “Bad things happen, but confusion and fear make them much worse.” He adds that, just like your annual budget review, look over your disaster plan at least once a year. “Review your plan as appropriate for your business. Last year’s plan may not be viable any longer,” he says.

 

December 2, 2012 Today's Business, , , , , , 0 Read more >

Business Continuity Planning: Why small businesses should prepare for the worst case scenario

Business Continuity Planning: Why small businesses should prepare for the worst case scenario

Posted by SBOC Team in General Businesson Nov 19, 2012 9:44:36 AM

ContinuityPlanning_Body.jpgby Heather Chaet.

 

 

A disaster striking your small business and the community in which it operates is a scenario no one wants to think about. Yet not thinking about what you will do in the event of a hurricane or flood can end up costing you much more than just rebuilding costs. Michael Bremmer, CEO of TelecomQuotes.com, likens disaster preparedness to planning for a funeral: “You know it’s going to happen, you just don’t know when, but you’re much better off if you’ve taken the time to have a plan.” In fact, as the recent devastation caused by Hurricane Sandy on the east coast so clearly demonstrated, preparing your company for a disaster, natural or otherwise, needs to be an integral part of your ongoing business planning. Beyond buying insurance, having safeguards and continuity procedures in place are among the most important actions you can make for the health of your company.

 

Get set up virtually and remotely

Virtual storage and remote desktop systems have transformed the ability of businesses to continue to work even if their physical location is unavailable. It is essential to develop daily and weekly procedures for all of your employees utilizing these capabilities. Having data backed up via off-site servers (preferably in a location far from where your company is), as well as on a cloud storage system that can be accessed remotely allows your employees to work from home or a temporary location should the situation arise. Though you may have minor delays and slower output, you can still meet the needs of your customers if you invest in the technology.

 

During and after a disaster, your company will not only need access to data, but also to assets. Richelle Shaw, entrepreneur, author, and president of the National Association for Moms In Business, says one of the ways she prepared for a disaster was to have a relationship with two banks—one local and one national. “My cousin was located in Louisiana during Hurricane Katrina,” she recalls. “Her local bank was flooded out, and she did not have access to money. When I heard her story, I immediately opened an account at a national bank.”

 

ContinuityPlanning_PQ.jpgDouble (or triple) up

Though you have copies of your important documents protected off-site, other elements of your business should also be duplicated. Jan Decker of Crisis Management Consulting suggests having alternate suppliers and ways to deliver your products. “If shipping is interrupted or specific products are not available, strategize alternatives and keep in contact with [your] customers,” Decker says, “Small business owners that depend on a single source [of] suppliers should have replacement or contingency providers.”

 

Justin A. Meyer, an attorney with Meyer and Associates who works with small businesses on Long Island, New York, takes the idea of doubling up one step further. “There should be at least two people with keys to the front door and at least two people who know the passwords to the computer systems,” Meyer notes, “Small business owners, because they may only have a few employees, are in a more precarious position. The most important thing they can do is to have some redundancy.”

 

 

Know who to call and who’s in charge

Whether your company has three employees or 300, the same priority holds true during a disaster: communicate with employees. “Have a current, updated list with contact information for each employee,” says Jeff Garr, founder and CEO of HR Knowledge. “It could be a chain of phone calls where the supervisor alerts his team, or it could be a website with centralized information. Whatever the plan is, be sure to communicate where the information can be found and how
it will be communicated.”

 

If the main person in charge is unable to resume control after a disaster, designate in advance  who will step into that role. “Small business owners need to have a power of attorney agreement with a trusted surrogate in the event the owner is unable to take care of business,” says Decker, “Good candidates are attorneys, CPAs, banking officers, trusted family members, or friends. This is to keep the business in operation until the owner can return or other suitable arrangements are
made.”

 

Make a detailed emergency plan and review it

Having a specific, written emergency plan is key for every business, and being sure everyone knows that plan is vital. “Review the plan with everyone in your company and trusted advisors, [and] confirm everyone knows their roles in case of an emergency,” says Bremmer. “Bad things happen, but confusion and fear make them much worse.” He adds that, just like your annual budget review, look over your disaster plan at least once a year. “Review your plan as appropriate for your business. Last year’s plan may not be viable any longer,” he says.

 

http://smallbusinessonlinecommunity.bankofamerica.com/community/running-your-business/generalbusiness/blog/2012/11/19/business-continuity-planning-why-small-businesses-should-prepare-for-the-worst-case-scenario

 

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