You might think a business continuity plan is a luxury—something only larger organizations can afford or something you’ll do during a slow period. But planning for disaster is not just good preventative medicine. It contributes to a healthy business in three meaningful ways.

Culture

Being prepared is a state of mind. When your team knows you’re prepared for the worst, they can move forward with any business initiative with confidence.

Organizations that have a business continuity plan in place nurture employees that are adaptable and proactive when things to do go wrong. Planning for disaster becomes a subtle part of everything they do, making them adept at automatically assessing the levels of risk associated with new ventures and more agile. Small disruptions don’t phase them because the business already has a plan in place for the worst-case scenario.

Competitiveness

The confidence your employees have because you’ve got a rock-solid business continuity plan is picked up by your customers. Letting them know you’re proactively planning for disaster sends a message they can count on you, and so can your investors, business partners and other stakeholders.

Having a business continuity plan can also set you apart from your competitors and is something you can market to potential customers. They may not even consider that your planning is in their best interests, but it will help you stand out when it comes time for them to make a buying decision.

Compliance

In an era of privacy legislation that includes the Personal Information Protection and Electronic Documents Act (PIPEDA) and the General Protection Data Regulation, planning for disaster helps you stay compliant with government regulation and industry standards—yet another way to maintain competitive advantage.

Even if your industry isn’t heavily regulated, adhering to standards and best practices by keeping them in mind during your business continuity planning demonstrates a commitment to quality and accountability. Should new legislation be introduced that affects your operations, or you expand your business into a more regulated sector, having a mindset in place that guarantees business uptime will help you easily adapt to new realities quickly, giving both you and your customers peace of mind.

Business continuity keeps you ahead of the game

Planning for disaster is a must-have, not a nice-to-have. Don’t wait until the worst-case scenario hits before you start your business continuity planning. Making the upfront investment today will pay off in the form of confident employees and customers, and a healthy bottom line.

If you haven’t begun to think about disaster recovery planning or feel your plan needs an update, check out our Disaster Recovery Primer.