What Will You Do If....?

Most small business owners do not have contingency plans written down or even considered. But unpleasant things always seem to happen when you don't expect them or are prepared for them. Having a first line plan of defense and offense for you and employees will save you time, money, customers and maybe even the entire business when the unexpected occurs. Maybe it's time to consider what you would do if:

.Your business building burned down
.Sales suddenly dropped 50%
.A key employees left or died
.A main supplier closed down
.You got sick & could not work
.The electric was off for 3 days
.All your employees walked out
.Technology suddenly made your products obsolete
.A big competitor cut prices 50%
.Weather unexpectedly closed your business
.Bank called your loan/credit line canceled
.All your computers crashed
.Another 911 occured
.You got windfall business

Be prepared before it happens and you will recover much faster. Share your plans with another key person in case you can't get started right away. Don't panic and follow the procedure you planned in advance.

Barry is a business and franchise coach www.idealetter.com