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PARANOIA, HYPOCHONDRIA & FEARCan your business survive a shark attack?     WORST CASE     SCENARIOS     Can this thinking ...
Contingency Planning5 Reasons It’s Important.What   Keeps You Up at Night?Your Survival Guide          Karen Dworaczyk @IN...
Contingency Planning         5 Reasons It’s Important.   1. There are no guarantees; growth has its risks.   2. You are no...
Contingency Planning What   Keeps You Up at Night? capital        ?         competitors ? commitments            ?cash flo...
Contingency Planning      Your Survival Guide           5 Easy StepsIdentify    Prioritize         Plan               Exec...
TOOLS: ANNUAL AUDIT             Identify              13 Areas of Vulnerability 1. Customer or channels that if lost would...
TOOLS: PRIORITIZE                LIST  You can           Most Severe                    More Likely                       ...
TOOLS: PLAN & EXECUTETHINK                                              HOWD                                              ...
TOOLS:                 EXAMPLE RISK STATEMENT30% of all businesses that have a major fire go out of business within a year...
TOOLS:              THE COMMUNICATION PLAN 13 Considerations 1.    Have a Defined Crisis Communication Team & Process 2.  ...
TOOLS:        WE CAN HELP YOU PLANINSIGHTOVATION                                  TM   [ a marketing transformation compan...
DON’T WAIT u n t i l                   the      SHARKSa r e Circling,                Plan how            to survive sudden...
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5 Easy Steps of Contingency Planning

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What to do when the SHARKS are circling.

Published in: Business, Economy & Finance
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5 Easy Steps of Contingency Planning

  1. 1. PARANOIA, HYPOCHONDRIA & FEARCan your business survive a shark attack? WORST CASE SCENARIOS Can this thinking keep your business healthy?
  2. 2. Contingency Planning5 Reasons It’s Important.What Keeps You Up at Night?Your Survival Guide Karen Dworaczyk @INSIGHTOVATION 2
  3. 3. Contingency Planning 5 Reasons It’s Important. 1. There are no guarantees; growth has its risks. 2. You are not in control; you just think you are. 3. You are not alone; they are out to get you. 4. People make mistakes; all the time & more than they admit. 5. Everything will change; faster & faster.Ultimately, it is a matter of survival. Karen Dworaczyk @INSIGHTOVATION 3
  4. 4. Contingency Planning What Keeps You Up at Night? capital ? competitors ? commitments ?cash flow ? contracts ? commodities ? customers ? suppliers ?sustainable growth economy debt ? ? talent acquisition & retention ? Karen Dworaczyk @INSIGHTOVATION 4
  5. 5. Contingency Planning Your Survival Guide 5 Easy StepsIdentify Prioritize Plan Execute Review Karen Dworaczyk @INSIGHTOVATION 5
  6. 6. TOOLS: ANNUAL AUDIT Identify 13 Areas of Vulnerability 1. Customer or channels that if lost would send the company into a free fall. 2. Competitors that are your biggest predators. 3. Business segments that are on the verge of extinction. 4. Disruptive innovation or technologies that make you obsolete . 5. Raw material costs that blow up your value equation. 6. Suppliers that are not easily replaced. 7. Unique components sole sourced or made only for your business. 8. Natural disasters for which to be prepared. 9. Key personnel that are mission critical. 10. Business systems that are mission critical. 11. Catastrophic product failure or recalls. 12. Problematic regulatory, health, safety, legal, environmental, social, union issues. 13. Financial difficulties such as cash flow, debt, interest and capital requirements. Karen Dworaczyk @INSIGHTOVATION 6
  7. 7. TOOLS: PRIORITIZE LIST You can Most Severe More Likely You can’t control control 1 1 2 2 3 3 4 4 5 5 Less Severe Less Likely Karen Dworaczyk @INSIGHTOVATION 7
  8. 8. TOOLS: PLAN & EXECUTETHINK HOWD 1 TO AV O I Risk Mitigation StrategiesTHROUGH IT Execution Plan Vulnerability 2 Annual Risk Now If or When Review 3 4 WHO HOW DOES WHAT TO COMMUNICATE Karen Dworaczyk @INSIGHTOVATION 8
  9. 9. TOOLS: EXAMPLE RISK STATEMENT30% of all businesses that have a major fire go out of business within a year.70% fail within five years. (Home Office Computing Magazine)THINK HOWD Risk Mitigation Strategies PROTECTION part of EQUIPMENT TO AV O I STRATEGICTHROUGH IT PLANNING p r o c e s s DATA Execution Plan BACKUP CATASTOPHIC Annual FIRE INSURANCE Now If or When Review COVERAGE SECURE: temp. location COMMUNICATE to: customers employees FIRE suppliers SAFE stakeholders HOW TO COMMUNICATE Karen Dworaczyk @INSIGHTOVATION 9
  10. 10. TOOLS: THE COMMUNICATION PLAN 13 Considerations 1. Have a Defined Crisis Communication Team & Process 2. Define the Designated Spokesperson (No one else speaks publicly) 3. Be Consistent with your Brand & Positioning 4. Have Clear Media Policies & Procedures 5. Use Traditional Communication Methods as well as Web & Social Media 6. Issue Prepared Statements 7. Prepare for Media Interviews, Create Speaker Presentations & Scripts 8. Practice Tough Questions 9. Have a Sample News Release with Prewritten Components 10. Create Collateral Materials in Advance, SLT Pictures, Bios, “About Us” 11. Identify Key Stakeholders & Audiences 12. Create and Document a Contact Log 13. Track Digital Engagements (positive and negative) Karen Dworaczyk @INSIGHTOVATION 10
  11. 11. TOOLS: WE CAN HELP YOU PLANINSIGHTOVATION TM [ a marketing transformation company ] 200 E BROOK RD PITTSFORD, NY 14534 (585)820-7761 INSIGHTOVATION@gmail.com Karen Dworaczyk @INSIGHTOVATION 11
  12. 12. DON’T WAIT u n t i l the SHARKSa r e Circling, Plan how to survive sudden turns for the worse. Have the right stuff for those times when everything goes wrong.Imperiled businesses can execute immediate hands-on strategies for survival. Karen Dworaczyk @INSIGHTOVATION 12

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