Large corporations and governments generally have a well-developed contingency plan or Plan B. However, most smaller enterprises do not have a formal contingency plan aside from an insurance policy or two. Typically, contingency plans are associated with risk management and focused on adverse risk.
This is an effective way of dealing with threats that can be a loss for the business.
The flipside of risk are the losses that a business can suffer when it fails to capitalise on new or undiscovered risk opportunities. As a business owner and seasoned consultant, I have come to know that most businesses are so focused on the operating plan and day to day business that it is little or no time and energy is left over to invest in thinking about Plan B.
My decision to switch to a business advisor from a consultant is natural the evolution of my services. It is a hard sell to most businesses on investing in plan B as most companies are not actively looking for the threats of opportunities that can upset the company. In almost all of my consulting roles, I was contracted to fix a known or precise problem. In the process of remedying I often discovered more complex challenges. Plan B's are essential for business, and I have made it my challenge to bring awareness and effective plan to these businesses in undiscovered need.
A Plan B contingency plan should be strategic and based on many scenarios. It needs to have actionable elements with specific details. Most importantly the program must have trigger points to set the plan in motion and a way to monitor the factors that set off the triggers. Other requirements for a good project are that it is clearly documented, tested and readily available when needed. It should also be monitored and checked and kept up to date. Permissions required to proceed should be established within the plan should the trigger point be met.
If we are engaged to help you with your Plan B goals, it will begin with a curious, open and honest review of your business.
The business check-up if an excellent tool to start the process. We will develop many options for your review. From there you can decide how you want to proceed. We work to keep this whole process aside from your day to day business and keep it aligned with your business and personal goals.
The goal is to put you at peace so that you can stay focused on the plan A knowing that you have a safety net.