Given that I have counseled with quite a number of small businesses in Pratt City Ala who suffered damages, first of all I strongly encourage a business insurance policy that covers contents and building (if you own).  Make sure the contents matches by 20-30% more of the cost of what you have.  Business continuity is another coverage that is needed.

If you are in business, even a home based business, which many are these days, buy insurance.   Paying that premium is as important to you  business as paying the light bill or buying inventory. You have to have it to stay in business in the event of a disaster.

Use an online computer back up service and back up your system nightly.  At the very least, use and external hard drive you back up daily and carry home with you.  Do not back up on a flash drive or external hard drive and leave it sitting by the computer where it could be damaged as well.

I could go on and on as in my past life I was a records and information management consultant.

I use an external hard drive to back up and then store that in a fire safe.  (Home and office are same location)

I also have a record of all my passwords (safely stored, of course).  This is the “in case I get hit by a bus” list so my husband can deal with the hundreds of online accounts I log into.

@trudy – unrelated… I traveled down to Alabama in July to help with the continual clean up efforts.  We cut and moved a lot of trees… very big trees.  I was amazed at the amount of damage that still existed three months later.

I keep all of my information stored on my laptop and an external hard drive that I ALWAYS have on me wherever I go. It would be a devestating nightmare for me if I lost either of them because I do keep personal information like passwords and account numbers on them. I have been looking for an online password protection site but not sure what site I should choose…any suggestions? I looked at Passpack that was suggested by Jim Belosic under his post “5 Ways to Keep Your Facebook Page Secure” on Dec 28th, does anyone use this?

What do other small businesses suggest for sole proprietorship’s for contingency planning?  The owner has been burned before and so everything is in his name and protected.  In the event of his death, the business would be left with all assets non accessible including all finances.  What sorts of contingency plans do you all have?

You are the best! leader, Rich! @rich-brooks Hope your daughter is feeling better. This is a great question and the answers are so helpful.  @trudy @casmccullough @jessicasmith @debbielynnava

Very thought provoking thread @rich-brooks  

I do have everything backed up on external hardrives and online.   Of course, first I had to lose everything to appreciate the value in that.  I had a computer completely reformate itself this past year…   lost YEARS of information.

I would say my issue is that I have spent so much $$$ getting to this point that I did not leave enough in reserve for an emergency.

So, I have been focusing on more ways to create passive and instant income which is probably exactly what I need to do anyway.
 

Along with backup, I recommend doing a “fire drill” of what you have in place.  My husband works with several small businesses as IT support and you’d be surprised how many he’s had to go in only to discover the “backup” process they thought they had didn’t allow them to recover what they saved.  So I say schedule some time to actually do a “fire drill” and test your ability to recover and access all critical items.

I am ashamed to say that I don’t have too big of a ‘disaster’ plan right now besides everything being backed up on an external HD. I love the insurance idea, though. I guess I’m not so alone with just having everything backed up on an external hard drive. This post has got me thinking, though! Thanks!