What's Your Contingency Plan?

This topic has popped up a lot lately...in conversations with my clients, in my coaching group, and most recently, this morning in my Business Network International (BNI) meeting. And let me tell you, it's surprising how few business owners have back-up plans in case of an emergency!

Do you safeguard against a computer crash or theft? I know a photographer who lost portrait photos that he had downloaded for his clients when his laptop was stolen out of his office in broad daylight. Lost forever. And a lot of explaining to do to an angry client.

What happens if you misplace your schedule or leave your cell phone at home?

What happens if the power goes out?

Can you still run your business?

Something to think about....Identify the worst case scenarios that can literally put you out of business, at least temporarily. And then design a plan to save the day.

Risk Management is something we'll be working on at the Results Mastery Club in the near future.

An E-Myth Moment: What Is the Franchise Prototype?

According the Michael E. Gerber in his book, The E-Myth Revisited, our Back-to-School featured book of the month, the Franchise Prototype model follows 6 main guidelines:

1. The model will provide consistent value to your customers, employees, suppliers, and lenders, beyond what they expect.
2. The model will be operated by people with the lowest possible skill level.
3. The model will stand out as a place of impeccable order.
4. All work in the model will be documented in Operations Manuals.
5. The model will provide a uniformly predictable service to the customer.
6. The model will utilize color, dress, and facilities code.

Even if you aren't remotely interested in duplicating your business and selling it as a franchise, pay close attention to numbers 2 and 4 above. If you ever desire to step away from your business without it falling apart, say for a vacation, business trip, or an emergency, you will need to have written rules to pass along to someone else.

If you are unwilling to get it all out of your head and onto paper, be prepared to stay chained to your business for life. Is that why you got into business in the first place? To actually have less time off to live your life?

Get the book. Hire a consultant or a coach. But whatever you do, get it in writing in such a way that anyone can understand it.