“Everyone has a plan until they get punched in the mouth” – Mike Tyson
Every business will eventually get “Punched in the mouth” and needs to know what the plan is for when that happens. Sometimes that plan goes right out the window, as Mike Tyson explained, and sometimes it’s followed to the letter, though not often. Having a plan in place gives your business a fighting chance when things go wrong. Succession planning, crisis planning, disaster planning, it all needs to be done because it can happen to any business any time. As Dwight D. Eisenhower said, “Plans are worthless, but planning is everything.” Sometimes the plans don’t hold up but since the resources are gathered and ready you can adapt the plan to suit the situation. If you have no plan you not only don’t know what to do, but you have no resources to do anything about it. My tip? Look at the worst-case scenario and be ready for it, just be glad when it never comes.