How to Create a Contingency Plan for Your Business
What would happen to your business if something happened to you? As an influencer, it is important to create a contingency plan in order to protect your business. We’re talking with Colleen Kennedy about the importance of contingency planning for your online business.
Ever worried that no one would know how to take over your business in the event of something happening to you? Creating a sound contingency plan is a strategic way to get everything about your business down for someone to take over.
This can seem daunting and maybe you are thinking, “Well, where do I start?” This episode will illustrate the reasons for creating a business continuity plan and will provide you with a workbook for this succession planning in order to make the process easier for you.
EPISODE 005: Importance of Contingency Planning
ABOUT COLLEEN KENNEDY
Colleen Kennedy is the creator of the popular food blog, Souffle Bombay where she shares approachable yet creative recipes anyone can make to wow their family & friends. she is also the author of 3 cookbooks with the most recent being published in March 2020.
WHY DO I NEED A CONTINGENCY PLAN?
You may be wondering, “What is a contingency plan and why do I need it?” A business continuity plan is vital in the event that something happens to you, or even if you plan to sell your business in the future. As Colleen states, “What the heck would happen to all the moving parts of my business if I did not wake up tomorrow?”
There are so many moving parts to your business that no one knows about. Succession planning gives you peace of mind that in the event that something did happen to you, someone significant would be up to speed on how to handle everything in your business.
A contingency plan is basically everything about your business. This includes logins, files, backends, information about the people in your circle, etc. Most people would have no clue about any of this without a laid out contingency plan that encompasses all that your business embodies.
“It is like an insurance policy for your business.”
THE ULTIMATE BUSINESS VAULT: A SUCCESSION PLANNING TEMPLATE
Colleen and I have teamed up to create an easier method to get all your important business matters into one “vault.” This is known as the Ultimate Business Vault and it is essentially a business continuity plan template with worksheets and checklists for both you and whoever you hand your business over to.
Using a succession planning template gives you a hand to hold and makes walking through this process faster and easier. It is a handbook that refers people to the important and essential information about your business in order to continue its success and growth. A business continuity plan template is a smart investment of your time and money to ensure your business moves forward without you.
Linked below is a free sample of The Ultimate Business Vault where you can see if this is a good investment by providing you with a contingency plan example for your business. There is also an additional affiliate program which offers you a generous percentage when you refer our contingency plan to others. Click on the links below for more information!
ONE PIECE OF ADVICE FOR WORKING SMARTER, NOT HARDER
Aside from creating a sound business continuity plan, a smart strategy to utilize in your business is planning and visualizing what your necessities are, what tasks you want to do, and your wishes for your business. Just start off with a week or a month worth of tasks as visualizing and writing them down will display ways to make your business more successful.
“Focus on planning and visualizing,” as Colleen states.
Make sure you grab your FREE download >> Ultimate Business Vault Sample
You can connect with Colleen on her website.
Rate, Review, & Subscribe on Your Favorite Podcast App
If you liked this episode, please consider rating and reviewing my show on your favorite podcast app. As always, I’d love to know what you learned in today’s show – send me a DM on Instagram to let me know.
And, don’t forget to subscribe to the Smart Influencer Podcast so you don’t miss a single thing.