He who fails to plan, plans to fail.
Dear business owners (especially construction or interior design business owners):
On site with our Technical Director and Project Managers
I'm sure you know that running a company can be tough.
You work hard every day to create beautiful and functional spaces for your clients.
You create the best environments for your team and push the envelope on all fronts.
But slow down - have you ever thought about what would happen if disaster struck? What if due to a Black Swan event, your business was disrupted, and you couldn't deliver your services as promised? Or that your business could be threatened to shut down?
Here are some Potential Disruptions (to freak out about):
1. Natural disasters (or a pandemic):
One of the times we had to close our studios during the pandemic
Natural disasters can cause significant damage to your physical space and disrupt operations. During the Covid-19 pandemic, BuildBuilt was informed to shut down and halt all activities at our construction sites. Cashflow choked, and this threatened the existence of one of our revenue pillars.
2. Cyber-attacks:
Today, technology has been a critical ingredient for business operations. Cyber-attacks pose a significant threat to companies. A data breach or ransomware attack could compromise confidential client information or bring business operations to a standstill. (Think about your client's home layout plans and contact information sold to malicious organisations!)
3. Staff attrition or shortages:
BuildBuilt relies heavily on skilled designers and project managers to deliver near-perfect spaces. Staff shortages due to illness, injury, or unexpected leave can have a significant impact on operations.
We have creatives and professionals that will depart for many reasons (voluntary or involuntary). Clients' projects are threatened with work delays. Manpower gaps are the worse!
Disruption Leads to Destruction
When the above disruptions occur, gut-wrenching consequences will ensue. The collapse of your company will be in sight. Some examples of these threats are breaches of contract, contract termination, and legal disputes.
Start creating Business Continuity Plans
‘Worrying’ isn't the solution. Creating business continuity plans (BCP) would be a better way to sail through choppy waters.
Some examples of BuildBuilt's BCP's -
We've structured a system of accountability. Leaders or heads of departments stay on the balls of their feet and are ever-prepared. They ensure all aspects of the project and business are working within their respective safety zones.
Within our BCP, we have also drafted out workflows and trigger points that are both rigid and agile, depending on the context. In construction, a ton of mishaps could happen. Aside from insurance, BuildBuilt has created provisions for handling contract terminations, refund policies and communication protocols. All these to keep BuildBuilt and our clients safe.
Staying in close relationships with our legal counselors helps us keep a distance from legal disputes. When our heads of departments get a whiff of danger, we can access these legal experts for assistance, and get ahead of problems.
Our team of designers coming together fortnightly
When our colleagues depart, or go on a long sabbatical, we have systems that will close knowledge gaps, and bridge the customer experience - without impacting project objectives.
Other good BCP habits are regular data backups, password policies, and staff training on cybersecurity best practices. Our community manager is constantly upgrading and revamping BuildBuilt's hiring processes as well! She looks out for flexible work arrangements or staff inefficiencies to keep the entire company happy and resilient.
So, if you're looking to create a BCP, know that it is not a one-size-fits-all solution. The plan should be tailored to the specific needs and risks of your company. We find that without a sound BCP, BuildBuilt may struggle to fulfill its obligations to clients.
Creating a BCP is not just about protecting your assets; it is also about safeguarding your clients and employees. A well-executed BCP can help to reassure clients that their projects will be completed on time and to the desired standard, even in the face of disruption!
March on bravely, business owners!
Want to trade horror stories? Speak to us at hello@buildbuilt.co