Five Things to Have Just In Case You Are Not Around

There is great joy in finding a passion and working hard to get a business off the ground. Every business owner knows the blood, sweat and tears it takes to get a business running smoothly and profitable. It can take years to move from concept to creation and profits. Owners know their businesses inside and out. Sharing that knowledge and storing it is essential to ensure that if, for any reason, the brains behind the operation is not around, the operation will still function.

This article addresses five pieces of information that, when documented, will allow the company to succeed without you.

Operations Manual: A solid operations manual can function as your company’s emergency plan. An operations manual will be the guide that allows the company heads to gain focus in a time that will require them to think quickly and remain effective. An operations manual can directly address each department’s logistics while keeping an eye on the bigger picture.

Contact Information: “It isn’t what you know, it’s who you know.” This stresses the importance of documenting the current and historical contact information necessary for the business to continue to operate with minimal downtime. Although it’s imperative to include all client contact information, the master list should be broad enough to contain the full scope of people the business is dependent on. This includes a section dedicated to lawyers, accountants, website host, and any other outside resources your company utilizes on a regular basis.

Financial Records: It is crucial that a financial surrogate is created and given permission to act as the financial officer as needed. This surrogate can focus on any financial issues that may arise, including paying the business loan, using the business’ line of credit, and dealing with any potential crisis that may arise. The IRS doesn’t care about who is at the helm of the ship when they want to come aboard.

Business Plan: The owner may have a very good grasp on where the company is supposed to be headed over the course of the next year. Documenting the vision will provide a road map for the rest of the company. This direction will allow departments the guidance necessary to stay on task and on budget.

Technology Records: Technology is a key component of business. Keeping accurate records of domain name, logins, hardware/software inventory and backup file host and locations will ensure that if the infrastructure fails, the company will have the appropriate information to get back up and running as quickly as possible.

Documenting these key components using the Smart Business Company Manual will ensure you’ve covered all bases and that nothing is left out. You’ll be confident knowing your can maintain a “business as usual” approach even when you are not able to manage as usual.