It would do well for us to start out with some statistics. According to recent data by FEMA, 93% of businesses that suffer a major disaster without adequate Disaster Recovery in place tend to go out of business within as little as a year. Unplanned data recovery attempts can also prove very costly for businesses with downtime losses hovering between $10K to $5M per hour depending on the size and the nature of the business. A recent report from Verizon reiterates that even a minor data breach can end up costing nearly $35,730 for small businesses – an amount that can easily put them out of business for good. This is why disaster recovery planning is such a critical component of any business but can prove to be a literal lifeline for small businesses. Data Backup and Disaster Recovery Lafayette offer DRAAS – Disaster Recovery As A Service to local businesses.
Why is a Disaster Recovery Strategy Important for Small Businesses?
Small businesses often make the mistake of assuming that they can fly under the radar of malicious actors. However, the ease with which hackers can gain access to the systems of small businesses makes them an easy target that hackers love to capitalize on. This is especially relevant as large organizations have started to really clamp down on all security vulnerabilities and toughen up their security stance and the numbers of amateur and rookie hackers are growing every year. In such a scenario, small businesses with the bare minimum of security frameworks in place present a very tempting target.
Also, if the damage from the attack does not take the business down – all of the attendant losses from downtimes, damage to physical assets, business opportunity, sales, brand loyalty and productivity losses, regulatory fines, and mandatory RCAs can set a business back for years – if not destroy them completely.
If your business operates in an industry where putting client data at risk can be debilitating for your business, you must have a backup and disaster recovery plan in place to keep client data safe. In such cases, your brand reputation is at stake and you cannot afford to take any chances. Having a backup and disaster recovery plan can help mitigate part or all of the impact of cyber-attacks and risks. The right disaster recovery solution should offer a mix of scalable pricing, hardware compatibility, and great customer support.
Successful Disaster Recovery Plan for Your Small Business
Create the Process for a Disaster Recovery Plan
In disaster recovery, the effectiveness of your planning determines the degree of success of your end results. That is why it is important to start your planning by knowing exactly who and how to contact according to priority in the immediate aftermath of a disaster. You could even guide your employees to take preventative measures against damage to property, assets, and inventory. You could also contact the authorities if required. Setting up the process enables businesses to allocate smaller chunks of responsibilities to specific employees, ensure that they know exactly what they have to do, and conduct simulation and training exercises regularly to ensure retention. IT Support Lafayette offers an exhaustive range of Disaster Recovery Solutions and Disaster Recovery Backups.
Have a Disaster Recovery Strategy?
The measure of success of any disaster recovery strategy is in how quickly it allows the business to resume normal functions. However, the critical part of building an effective strategy is to always prepare for the worst-case scenario(s). You need to take into account all your current applications, data storage requirements, potential physical damage to servers and also figure out all the manual access to the system network. You should also carry out a business impact analysis (BIA) for an in-depth understanding of the true impact of different disaster scenarios on your organization and sales. This will also help you understand the deficits between your current capacities and what you will need in case of a disaster – helping you to prepare better.
Conduct Insurance and Budget Analysis
One way to be prepared for an insurance check is to know the actual cost of your current infrastructure. This means calculating the replacement cost of all critical pieces of equipment. If you have existing insurance coverage, you should also ensure that there are no discrepancies in paying for direct and indirect costs.
Collect Store Supplies
This sounds commonplace but can prove essential in the immediate aftermath of a disaster. This covers everything from medical kits for your employees and other essentials. This can also include investing in backup systems that help you resume business operations at the earliest.
Post-disaster Communication Plan
You should have a communication strategy in place to effectively communicate with all users and employees. This can involve both traditional as well as new-age digital marketing tactics. Also, you need to ensure the safety of all vital contact information such as details of clients, customers, vendors, insurance agencies, and more. In addition, having access to all relevant information about the disaster can also prove useful to your business in the long term.
Align Logistic Goals
You should account for supply chain disruptions in the immediate aftermath of a disaster event. The best way to manage this is to have backup options for your supply chain providers that are aligned with your logistical goals.
Have adequate backups
The only way to remain unscathed from a disaster is to have effective and up-to-date backups in place. You need to ensure that your backups have adequate redundancy and a high degree of availability. You should also invest in some combination of onsite, offsite, and cloud storage for your backups. If you are a small business owner, you need to ensure that you duplicate all sensitive documents such as records of contracts, etc. For the most effective disaster recovery strategies and Disaster Recovery Plan For Small businesses, please contact Managed IT services Lafayette.