Danielle Levy Business Growth Strategist & Founder of The Boardroom League.
No one dreams that unexpected hardship could disrupt their lives and businesses, but when those things happen, you can help protect your business with what is known as an in-case-of-emergency plan (ICE plan). As business owners and leaders, we know that being prepared is not just an option—it’s a necessity.
Whether you’re on vacation and fully offline, or something catastrophic happens and you need to act fast, having a solid plan can minimize the impact the issue has on your business and allow you to move forward quickly and efficiently.
I’ve seen businesses quickly adapt and pivot when the CEO knew what they needed in place to effectively maintain their business, cross-train their team and have an easy-to-find compilation of critical information. Since then, I’ve helped my clients make sure they had a complete ICE plan in place.
The Power Of Preparedness
As CEOs and business leaders, time is a precious resource. This is why it may be tempting to believe that damage control at the moment is enough, but the truth is that relying solely on reactive measures in the event of an emergency is simply not worth the risk of potential setbacks. By taking the initiative to create a comprehensive ICE plan, you demonstrate your commitment to the long-term sustainability and growth of your business, proving that your leadership extends far beyond day-to-day operations.
Compiling The Core Components For An ICE Plan
When it comes to developing an ICE plan, there should be no stone left unturned. While it may seem tedious, unexpected situations are just that: Unexpected. So, by preparing every area of your business, you can feel confident that you’ll be equipped to handle any curveball life throws your way and that you can easily access all of your key information.
Basic Business Information
I recommend that you begin by compiling essential details about your business such as its legal structure, registration documents and important identification numbers. Having these foundational pieces of information readily available can be crucial in moments of crisis.
Financials
Financial preparedness is at the heart of every successful ICE plan. Keep track of your financial statements, insurance policies and other critical financial documents. Understanding your financial standing can help you make informed decisions and secure the necessary resources to weather the storm.
Communication And Contacts
Maintaining open lines of communication during a crisis is paramount. Prepare a comprehensive list of key contacts, including team members, clients, suppliers and other stakeholders. Having a clear communication strategy can prevent misunderstandings and ensure that everyone is on the same page during challenging times.
Team Member Information And Directory
I’ve witnessed how your team becomes your greatest asset during a time of crisis. Therefore, create a directory that includes contact information, roles and responsibilities of each team member. Assigning specific roles and responsibilities can facilitate a seamless response when adversity strikes.
Operations And Standard Operating Procedures
A well-documented set of SOPs is the backbone of a resilient business. Within this SOP, you can look to outline standard procedures for critical operations, crisis management and contingency plans. This helps ensure that even in your absence, your team can continue to execute essential tasks efficiently.
Login Information And Social Media Accounts
In today’s digital age, access to online platforms and social media accounts is crucial for business continuity. Keep a secure record of login information and credentials for various platforms to avoid disruptions to your online presence during challenging times.
Implementing And Maintaining An ICE Plan
Creating an effective ICE plan doesn’t have to be overwhelming. Start by organizing all relevant information into a single, accessible location. You can utilize cloud storage or physical copies to ensure easy retrieval. Create a schedule to regularly review and update your plan to reflect changes in your business and industry landscape. As your business grows and evolves, so should your ICE plan. I highly recommend conducting mock emergency drills with your team to test the effectiveness of your plan and identify areas for improvement.
Six Steps For Creating Your Plan
Now that you have compiled all of your information, it’s time to create the actual plan. Here is a six-step process for creating your ICE plan.
1. Identify your company’s top priorities. You’ll want to think about every area of your business. Think about your revenue drivers and all of the tasks that the business performs daily, weekly, monthly and quarterly.
2. Brainstorm. Identify the types of situations that are most likely to happen. Go over your business plan and all of your business’ activities; ask yourself a series of tough “What if…?” questions.
3. Hold a team meeting to develop your plan. Come up with a plan for dealing with each situation. What are your next steps, what resources do people need to make it happen, and what is the backup procedure?
4. Establish and document your chain of command. If, for some reason, you’re not around when a decision needs to be made, you need a DPIC (designated person in charge).
5. Review your plan. Review what SOPs need to be updated and have team members practice doing their assigned tasks.
6. Review your plan every six months. A lot can change over the course of a year, so make sure you’re prepared by revisiting your plan at least every six months.
Protect The Business You’ve Worked So Hard To Build
An in-case-of-emergency plan is more than just a precaution; it’s a lifeline for your business when the unexpected occurs. With your ICE plan in place, you can rest assured that your business is well-equipped to weather any storm that comes its way. So, I recommend that you start building your ICE plan today and embrace the peace of mind that comes with being prepared.
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