Exploding the Myths of Business Continuity

Most business owners today recognize the need for business continuity and disaster recovery, but there are several myths that prevent some businesses from using best practices to safeguard their networks.

Myth number one: Adopting business continuity measures creates a perception of vulnerability or has a negative impact on company reputation.

The fact is: The damage to a business’s reputation is much greater if there are interruptions of service due to technical malfunctions. Using best practices to keep services going creates a more positive perception of the company.

Myth number two: If your service is not vital, such as healthcare or banking, you don’t need a business continuity plan.

The fact is: You shouldn’t succumb to industry stereotyping. Most practitioners of business continuity are in other industries such as retail, manufacturing and broadcasting.

Myth number three: There is no return on investment for creating a business continuity plan.

The fact is: When factoring in the potential losses for even a short period of downtime, the financial losses from a disaster often far outweigh the costs of implementing business continuity measures. A more reliable service also leads to a competitive advantage and greater market share.

Myth number four: My business is small, so it doesn’t need or can’t afford business continuity solutions.

The fact is: from the Fortune 500 to the small retail corner shop, business continuity plans can be tailored to any size business at a reasonable cost. Also, small businesses are just as vulnerable when disasters occur, if not even more.

Myth number five: “It won’t happen to me.”

The fact is: Some business owners don’t take time to research best practices because they believe they will know what to do when disaster strikes – or they are just too afraid to contemplate such a scenario. They may also believe that, since they have operated for a long time without a disaster it must be too unlikely to consider or prepare for. Ignoring a potential problem won’t prevent it from happening.

Don’t let any of these myths prevent you from taking the proper measures to maintain the continuity of your business operations. It’s never too late to change your way of thinking and create a business continuity plan.

For more information on this and related topics, contact us.
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