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What Is Your Plan B?

If you don’t sign that deal, what’s your Plan B? If your MVP flops, what’s your Plan B? If your developer partner leaves, what’s your Plan B?

Or if your city gets hit by a flood or a tornado or a hailstorm or a prolonged power outage (like what has happened to Canadian cities in the last six weeks), what’s your Plan B?

I’m a big believer in always having a Plan B.

Resilience is the ability to bounce back after an unexpected event. These unexpected events can impact lots of people or just you, but the impact is usually catastrophic.

A Plan B need not be fully running in parallel to your main strategic plan, but it should be ready to quickly ramp up should disaster strike.

Take some time during your summer break to think through your backup options and document them. Have a strategic reserve of untouchable cash. Or start building your network so you can replace a key member of your team.

Don’t put all your eggs in one basket. This is not Texas Hold’em. You want to build a business that is resilient and strong.

Now’s the time to put those contingency plans in place. If the unthinkable happens, what’s your Plan B?

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Image credit: Vincent Macaluso (nolageek) on Flickr
Direct link: http://www.flickr.com/photos/nolageek2/79944038/
Used under Creative Commons licence

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