Make back-up plans for your business and business finances

Tree blocking street near Altadena Golf Course, Altadena, CA (Don Simkovich)

Recent weather around La Canada Flintridge, Pasadena and other foothill cities reminds us that businesses and residents need to have back-up plans for their finances and other mission-critical aspects of their operations.

High winds knocked out small businesses like the Coffee Gallery on Lake Avenue in Altadena and chain stores like Paneras in La Canada Flintridge. Both are favorite business networking locations.

While we can’t plan for any disastrous event, there are precautions to take. These are many of the same basics I mention in my post on

Back-up Critical Records

Make copies of information like your employee identification number, insurance policies, employee contact information, emergency personnel, and key vendors who provide services to keep your business functioning.

Back-up Plans

Spend a brief amount of time to consider how your business might function if hit by fire — as we saw with the Station Fire raging around La Crescenta and Tujunga — or where you might relocate if you have a home-based business along the 210 freeway corridor.

Back-up plans may include briefing key employees on a decision-making chain if you as the business owner are ever incapacitated or unable to be reached for a sustained period of time.

Back-up Information

Make sure financial records are properly backed-up in addition to customer information. Use flash drives or use web-based services like Zoho, Freshbooks, or other applications. This is where cloud computing and cloud accounting has advantages.

Have your bank’s information on hand as well.

We can’t plan for every emergency that might arise. There are natural disasters, man-made disasters like arson, 9/11, and the mortgage / banking crisis of 2008. Having at least a framework of a back-up plan will reduce the chance for panic and provide a platform for constructive action during an emergency.

This action can give your employees and your customers confidence in your abilities as a business owner.

One step to planning is to request the free spreadsheet template I use. Simply sign up for the blog. Also, follow me, Jackie David, on LinkedIn.

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