Beauty Store Business

AUG 2013

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BE PREPARED Disasters—whether natural or otherwise—can occur at any moment. Protect your business with these hints from our experts. AN INDUSTRIAL PLANT EXPLODES IN TEXAS. A tornado ravages Oklahoma. A hurricane floods the East Coast with water. Bombs shut down the city of Boston. All those recent disasters caused tremendous human suffering. All of them, too, brought devastation to businesses large and small. From damaged buildings to wrecked inventory to disrupted supply lines, natural and man-made disasters can tear a huge hole through profitability. In many cases businesses close their doors for good. PLAN FOR RECOVERY What lessons can we learn from all this? Here's one: 76 August 2013 | beautystorebusiness.com Business owners must design and implement disasterrecovery plans designed to mitigate harm when bad things happen. With that in mind, now would be a good time to revisit your own recovery plans with a fresh look. Are you taking the right actions to minimize damage if you are hit with a windstorm, a lightning strike, a flood or a power outage? Your answer might well be "no." Too often the details of disaster planning get shortchanged for pressing matters such as issues with personnel or suppliers. That's a mistake. No matter how successful your operation, everything you do can come to a halt if there's no Plan B when Plan A gets derailed. "A bad event can take down a company forever," says Jeffrey Williams, president of Binomial International, a disaster-planning consultancy in Ogdensburg, New York. "That's why it's so dangerous for businesses to keep disaster planning on the back burner." In approaching a redesign of your own plan, experts advise taking a broad view, incorporating as many "what-ifs" as possible. "There are three types of disasters," says Williams. "The first is natural. Think weather. The second is technical—when equipment fails. The third is a human error—what people do to other people. That can be sabotage or a fire." Advice from Williams: Plan for all three. iStockphoto.com by Phillip M. Perry

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