Can Your Business Weather the Storm? The Five P’s of Preparedness
With Tropical Storm Bill headed for the Texas coast, Houston may find itself underwater yet again very soon. We can only hope that it passes quickly without doing much damage. Whether or not this proves to be a big one, however, this is a good opportunity to determine if your business is prepared to weather a storm. According to the U.S. Department of Labor, 40% of businesses “never reopen following a disaster” and over 60% say they’re “not well-prepared for a flood.”
If your business is not prepared, Agility Recovery (a partner of the U.S. Small Business Administration) touts the Five P’s of Preparedness:
- People: “People are your most important asset. Practice the plan, communicate regularly and empathize with their personal situations.”
- Property: “Back-up and safely store all physical, financial and inventory assets.”
- Processes: “Ensure all critical business processes are protected and can be applied in temporary environments.”
- Products: “Track and manage all inventory, keeping customers and suppliers informed, managing their expectations.”
- Partners: “Understand and confirm continuity plans with key partners and suppliers in advance.”
Visit PrepareMyBusiness.org for more information and tips on how to prepare your business for a severe storm, hurricane, or other natural disaster. Stay safe!
READ MORE FROM AMERICAN COMMERCIAL CAPITAL
Business Video Roundup: How to Motivate Your Team, Market Your Business in 2020 & More
In our latest business video roundup, Gary Vaynerchuk delivers a rousing 60-minute keynote that covers a variety of business topics (including developing a marketing edge against the competition in 2020), Brian Tracy discusses six ways to motivate your team to do their best work, and Goldman Sachs CEO David Solomon sits down for an illuminating View from the Top talk at Stanford Graduate School of Business. Plus, Shutterstock founder Jon…
Business Video Roundup: What to Do When a Client Says Your Prices Are Too High (& More)
In this week’s roundup of great videos for entrepreneurs and business owners, Sunny Lenarduzzi offers up some great advice on how to react when a client says your prices are too high, Brian Tracy shares a few quick productivity tips to help you reach your goals, and Patagonia CEO and president Rose Marcario advocates doing right by the environment, your employees, and your community while running your business. Plus, ThirdLove…
Business Video Roundup: Master Persuasion, Pursue That Fad & More
In this week’s roundup of great videos for entrepreneurs and business owners, Brian Tracy reveals four ways you can master the necessary art of persuasion, Gary Vaynerchuk talks shop with serial entrepreneur Jesse Itzler (Marquis Jet, The 100 Mile Group), and Evan Carmichael unveils the top 10 best pieces of success advice of the decade by folks like Elon Musk, Warren Buffett, and Bill Gates. Plus, Stanford GSB professor Susan…
