Have you ever thought of what would happen to your business if you were suddenly taken out of the picture? And that morbid thought doesn’t even touch yet on what would happen to your family.
Not to be a drag, but part of business continuity planning is thinking of worst-case scenarios so back-up plans can be established, and well, the sudden loss of the business owner certainly qualifies.
That’s where a well-thought out operations manual — the combination detailed instruction manual and Bible of your business– is priceless.
The ops manual can help keep the foundation, processes, work and structure of the business steady and strong even without you. On a much brighter note, if your business grows so successful that you can sell it, the ops manual would still be an integral part of your business’s success, and a necessary component of the transfer. And if you need a vacation, or have to take on a sudden trip to the hospital, the people left in your stead can readily cover for your unavoidable absence.
An operations manual simply explains how your business works.
It details all the aspects of the business (operations, finances, production, etc.) as well as covers the information that’s needed to make it– and keep it– running smoothly. Even the details like the account numbers for utilities, or contact numbers for your CPA, or lawyers, and your suppliers, etc. The ops manual is a controlled, concise data-dump of every detail of your business. The business is your baby, the ops manual is your guide to taking care of that baby.
Continue reading For The Worst-case Scenario: Do You Have An Ops Manual?