Preview
The first part of this article included the structure of your company as well as given power of attorneys. Recommended was to provide an organigram of your companies structure and how it operates, so that external people have a short hand-out to understand your company from that side fast. Second part was talking about the power of attorneys which you have given already and gave also room to rethink this subject once more. If all are up to date and if something is missing.
Both will form the first chapter of your emergency plan.
The second chapter we hit shortly on the end of the first part, which will be filled with list of all important assets of your firm. Such as bank accounts, credits, regular payments, credit lines and your balance sheet.
This second chapter of your emergency plan will be the second look for your personnel in charge during your absence. It should included all relevant information after the first shock is taken.
In this second part of the article we will follow up with the finishing of your second chapter, going on with chapter three contracts and other important documents over checklists and last but not least a couple of thoughts in the end of it.
Both will form the first chapter of your emergency plan.
The second chapter we hit shortly on the end of the first part, which will be filled with list of all important assets of your firm. Such as bank accounts, credits, regular payments, credit lines and your balance sheet.
This second chapter of your emergency plan will be the second look for your personnel in charge during your absence. It should included all relevant information after the first shock is taken.
In this second part of the article we will follow up with the finishing of your second chapter, going on with chapter three contracts and other important documents over checklists and last but not least a couple of thoughts in the end of it.
What does chapter 2 include else
Chapter two includes so far lists of your bank accounts, credits, insurances, Power of Attorneys, a timeline with most important deadlines and dates and a short summary of your financial situation.
It should also included information if you have any deposit box in the firms name and who has access to it. A summary of the most important regular payments and incomes, both are important as this will keep your company running.
If you entered any special agreements, ensure that non-involved persons will find a note from you in your emergency plan too. This point is very important if this agreement is one for example with your bank or any authority. Any form of a written note of your next plans and steps which you had in mind will help also the persons in charge to keep up with your firm. This has not to be in any specific form, just be sure someone will get it.
This was chapter two, which includes list of every essential detail of your firm to ensure that it keeps running.
It should also included information if you have any deposit box in the firms name and who has access to it. A summary of the most important regular payments and incomes, both are important as this will keep your company running.
If you entered any special agreements, ensure that non-involved persons will find a note from you in your emergency plan too. This point is very important if this agreement is one for example with your bank or any authority. Any form of a written note of your next plans and steps which you had in mind will help also the persons in charge to keep up with your firm. This has not to be in any specific form, just be sure someone will get it.
This was chapter two, which includes list of every essential detail of your firm to ensure that it keeps running.
Chapter 3
The next chapter is all about contracts, certificates and other important documents. The order of the chapter will symbolise a bit the required information sorted after the possible time when they will be needed. By this statement documents will have a lower priority then information has given by chapter one and two. Because the most important inside each document will be mirrored into the previous chapters.
Copies of the documents are then important when powers have to be enforced and the managers in charge have got control. Documents which have to be found in this section is such as partnership or company agreement, power of attorneys, copies of registration, patents, any other important document and a copy of your succession plan.
In your emergency plan folder should be found only copies with a link where the originals can be found or a person named which holds this information. Why? By the nature of an emergency plan several persons should be aware of its place and content. But it can be that not every person should have access to some original documents, for example your private will or the whole succession plan. Also it might be to recommend to keep some important documents storaged at a neutral person or organisation. A neutral person or organisation can be defined as one which has no interest, financially or personally, into that this document could be altered or disappear.
Such a neutral person or organisation could be a state one, your accountant or your attorney.
Copies of the documents are then important when powers have to be enforced and the managers in charge have got control. Documents which have to be found in this section is such as partnership or company agreement, power of attorneys, copies of registration, patents, any other important document and a copy of your succession plan.
In your emergency plan folder should be found only copies with a link where the originals can be found or a person named which holds this information. Why? By the nature of an emergency plan several persons should be aware of its place and content. But it can be that not every person should have access to some original documents, for example your private will or the whole succession plan. Also it might be to recommend to keep some important documents storaged at a neutral person or organisation. A neutral person or organisation can be defined as one which has no interest, financially or personally, into that this document could be altered or disappear.
Such a neutral person or organisation could be a state one, your accountant or your attorney.
Lists with most important contacts, chapter 4
The fourth chapter is another one which will included lists. Lists of your most important clients, business partners and deliverers. As also if you are involved in any legal disputes, keep a short summary in your emergency folder of each case, including next steps to do.
This kind of information can help after the first couple of weeks are survived and the management has the most important parts under control.
Into any ongoing legal disputes should be looked sooner then later, it can be time sensitive and from greater importance for the whole firm.
This kind of information can help after the first couple of weeks are survived and the management has the most important parts under control.
Into any ongoing legal disputes should be looked sooner then later, it can be time sensitive and from greater importance for the whole firm.
5. Keys and Passwords
Next chapter will give the management in your absence the chance to see who has which kind of key and will provide a list with all important passwords. An index of all keys in your firm will be quite helpful, especially during a longer or permanent absence from you.
Such an index can provide information such as, where to find stored a general key and also which kinds of keys you have. By knowing this any successor can check if your keys are still with you or came all back. The list should also included each person named in your emergency plan which is holding keys of your firm. This kind of information is important in the first days or if access is required on weekends or holidays.
Second part of this chapter is passwords, yes you should provide a list with your passwords to business accounts. Or actually this list should tell how is aware of your passwords or where they can be found. This gets more important as smaller your firm is, because it gets more likely that you will not have your own IT department more administrators. So make sure that others which will have to take over have the required access into all systems.
There is another way around having direct access such as to let open a new one through the provider, but this takes usually time and paperwork. Time which you might not have or you are simply in the situation in which you want to get things done one after another.
Such an index can provide information such as, where to find stored a general key and also which kinds of keys you have. By knowing this any successor can check if your keys are still with you or came all back. The list should also included each person named in your emergency plan which is holding keys of your firm. This kind of information is important in the first days or if access is required on weekends or holidays.
Second part of this chapter is passwords, yes you should provide a list with your passwords to business accounts. Or actually this list should tell how is aware of your passwords or where they can be found. This gets more important as smaller your firm is, because it gets more likely that you will not have your own IT department more administrators. So make sure that others which will have to take over have the required access into all systems.
There is another way around having direct access such as to let open a new one through the provider, but this takes usually time and paperwork. Time which you might not have or you are simply in the situation in which you want to get things done one after another.
Final chapter - checklists
Last chapter is all about checklists. Checklists are great you can take them out and you go one by one through them, ensured that you will not forgot something.
The checklists should be split in logical chapters and sub checklists, so it is possible to pass them along. But it should exist one main list which includes all the sub lists, this will allow one person to keep an oversight.
When setting up your emergency plan first time give the task of creating a checklist for emergency cases to each team-leader of your firm. They should have the task of creating a first checklist together with their teams. If done well it is a process which will take time. After that and passing the checklists back up, the firms head management will be in position of logical cutting back the lists.
As important each point will be, as unpractical it is if a checklist is tens of pages long.
When using main and sub checklists it is possible to handle larger lists by splitting them down and still holding control. After the first round of setting up the checklists and your emergency plan it is important to keep your lists up to date. For this an idea is to motivated each employee of yours to forward every idea.
The checklists should be split in logical chapters and sub checklists, so it is possible to pass them along. But it should exist one main list which includes all the sub lists, this will allow one person to keep an oversight.
When setting up your emergency plan first time give the task of creating a checklist for emergency cases to each team-leader of your firm. They should have the task of creating a first checklist together with their teams. If done well it is a process which will take time. After that and passing the checklists back up, the firms head management will be in position of logical cutting back the lists.
As important each point will be, as unpractical it is if a checklist is tens of pages long.
When using main and sub checklists it is possible to handle larger lists by splitting them down and still holding control. After the first round of setting up the checklists and your emergency plan it is important to keep your lists up to date. For this an idea is to motivated each employee of yours to forward every idea.
Summary
So far to your emergency plan, yours should included at this stage in chapter one a reduced overview of your company and structure. Also it is found power of attorneys and the size of given powers. In the second chapter are lists holding information about your assets, all important dates in a year and a statement of your financial situation.
The third chapter will provide all important documents, were suitable with a copy or if not a note where this document will be found. Next chapter, the fourth, is all about your most important clients, business partners, deliverer and if existing a summary of open legal disputes.
Chapter five is filled with an index of all your keys and passwords, or where they are found. Last section of your plan is about checklists.
Congratulations the set-up of your emergency plan is done.
Chapter five is filled with an index of all your keys and passwords, or where they are found. Last section of your plan is about checklists.
Congratulations the set-up of your emergency plan is done.
Last words
In the last words I want to share some thoughts. Your business will be in every stage of the life cycle dominated from changes, as this is happening we should keep your emergency plan up to date. For doing that I recommend to read your plan regularly, set yourself a fix reminder every year to read through it. Same counts of course for your private will and your succession plan.
If you have some mature changes business-sides as also in your private life, rethink your plans and consider any possible impact to them.
Include in the process of set-up and also in later regular reviews your advisors, such as accountant and attorney.
If you have some mature changes business-sides as also in your private life, rethink your plans and consider any possible impact to them.
Include in the process of set-up and also in later regular reviews your advisors, such as accountant and attorney.
